How Often Should You Shop Around for Car Insurance?

Most personal finance experts recommend shopping around for car insurance at least once a year.

The best time to do this is just before your annual policy renewal, when your premium is likely to increase.

Changes to your customer profile can also lower your risk level, leading to a lower premium. These include:

Your personal circumstances.

Adding a spouse to your policy or bundling your car and home insurance can also be more cost-effective than having separate policies.

If you work from home, your auto insurer may be happy to reduce your rate. Alternatively, you can switch to a mileage-based insurance policy.

You’re driving less.

Many insurance companies use credit scores as one of the factors in determining an individual’s car insurance rate. You could qualify for a reduced rate if your credit score improved.

Your credit score has improved.

If you moved to a safer neighborhood or a home with more security, your premium is likely to drop.

You moved to a new location.

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