9 Ways Retirees Can Whittle Down Their Car Insurance Costs
Remember those partial refunds auto insurers issued policyholders during the pandemic because fewer people were driving? It’s payback time. Now, car insurance rates are soaring, up 11.3% this past June, compared to the same month in 2020, according to the Consumer Price Index.
With more Americans on the roads, insurance rates have rebounded to where they were before the pandemic struck. Rising inflation will only pressure insurers to raise rates even more. Overall, consumer prices are up 5.4% compared to a year earlier, the largest 12-month increase in more than 13 years, driven by an economy in full throttle.
Like most Americans, you may be eager to spend after a year of lockdown-induced depravation, but splurging on car insurance wasn’t exactly what you had in mind. Fortunately, there are plenty of ways to cut your car insurance premium, including these nine tried-and-true methods.
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