Shop insurance annually instead of auto-renewing

Get quotes from 3-5 insurance companies every year for auto, home, and renters insurance. Rates change constantly based on risk models, and loyalty is rarely rewarded with the best price. A 30-minute comparison session can save $200-800 per year.

Why It Works

Insurance companies adjust rates annually and often raise premiums on existing customers while offering lower rates to attract new ones. Switching or threatening to switch resets your pricing.

Tips

• Use comparison sites like Policygenius, The Zebra, or Jerry to get multiple quotes quickly
• Bundle home/renters and auto with the same company for a 5-25% multi-policy discount
• Raise your deductible from $500 to $1,000 to lower premiums — only if you have an emergency fund to cover the difference
• Ask about discounts: safe driver, good credit, home security, professional affiliations