The 15-Minute Insurance Checkup That Could Save You $500 a Year

You probably don't think about your car insurance much — until the bill comes due or something goes wrong. But here's the thing: your policy might not match your current needs anymore, and those mismatches could be costing you more than you think.

The good news? A quick checkup can reveal savings opportunities hiding in plain sight. You don't need to be an expert or spend hours on the phone — just a few smart questions and a 15-minute review could leave you with a lower premium and better coverage.

Here's where to start.

Make Sure You're Not Overpaying for Old Coverage

Your life changes — and your insurance should, too. If your commute is shorter, you've paid off your car, or you're driving less overall, you might be carrying more coverage than you actually need.

Take a look at your current limits and deductibles. Still paying for rental car coverage even though you work from home? Carrying collision on a car that's worth less than $2,000? These could be areas to trim without sacrificing peace of mind.

Ask Yourself: When's the Last Time You Compared Rates?

Even if you're happy with your current insurer, loyalty doesn't always equal savings. Rates can fluctuate year to year — and some companies offer better deals to new customers than renewing ones.

It doesn't hurt to get a few comparison quotes. You might find a better rate with the same (or better) coverage — especially if your driving record has improved or your credit score has gone up.

Look for Discounts You Might've Missed

There are more auto insurance discounts out there than most people realize — and many aren't automatically applied. A few to double-check:

• Bundling with home or renters insurance
• Low-mileage or pay-per-mile driving
• Defensive driving or driver safety courses
• Good student or safe driver programs
• Discounts for safety features like anti-lock brakes or anti-theft devices

You could already qualify for some of these without doing anything extra — you just have to ask.

Check That All Your Info Is Up to Date

Insurance companies base your premium on the information they have — and if it's outdated, it could be costing you. Make sure your policy reflects your current address, mileage, and usage. Even something like changing where you park your car at night can make a difference in your rate.

Also worth checking: any drivers listed on your policy. If someone no longer drives your vehicle regularly, it might be time to remove them.

Don't Forget to Review Your Deductible

Your deductible is what you pay out of pocket before insurance kicks in. If it's been a while since you adjusted it, take a moment to make sure it still fits your budget and comfort level.

Raising your deductible can lower your premium — as long as you're confident you could cover it in an emergency. Just don't raise it too high in the name of saving money short-term.

The Bottom Line

A lot can change in a year — and your insurance policy should keep up. By setting aside just 15 minutes for a quick check-in, you could uncover ways to save money, simplify your coverage, or both.

And if it's been more than a year since you've compared quotes? This is the perfect time. Shopping around, updating your info, and asking about discounts could lead to real savings — sometimes even $500 or more per year — without sacrificing the protection you need.