Daily Juice 026 – Is your auto insurance policy costing you too much?

Daily Juice 026 – Is your auto insurance policy costing you too much?

We are 6 months into 2016. If you haven’t paid attention to your finances that much this year, now is the good time to make so adjustments to make 2016 your best year yet! I am still looking for more ways to reduce the waste of money!

Shop your Auto insurance

When was the last time you reviewed your auto policy? Oh, yeah! Many of us think that once you bought a policy, you don’t need to periodically review it. But things change.

Let’s start with getting your Auto policy.

1. Take a look at declarations page

2. How old is your car?

3. What is your collision deductible? (If your car is damaged or destroyed in an accident, collision insurance coverage will typically pay to fix or replace it.)

4. Increasing your deductible for example from $250 to $1,000 could save you up to 20% on your premium.

5. You need to be able to afford this expense. This comes down to having a “Healthy Emergency” fund, 3 to 6 months of living expenses.

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Anna Sergunina
Anna Sergunina

I'm Anna Sergunina, CFP®, President & CEO at MainStreet Financial Planning, Inc. My passion lies in serving others through financial planning, helping clients achieve their dreams like buying a home, saving for education, or retiring early. With over two decades in the industry and a CFP designation since 2009, I'm dedicated to excellence and continuous growth. Beyond work, I cherish moments with my son Liam, prioritize self-care, and engage in content creation for my Money Boss Parent Podcast and Money Library blog.

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