According to a survey conducted by the personal finance website NerdWallet.com, 38% of motorists haven’t bothered to compare or otherwise evaluate their car insurance costs within the last three or more years; 17% haven’t checked at all. Ironically, 28% of the survey’s respondents, and a third (33%) of millennials queried already believe they’re paying too much for car insurance. That’s because the so-called actuarial formulas used to compute car insurance rates are moving targets that can vary significantly among companies. Even if you’ve already paid for six months or a year of car insurance, you’ll be reimbursed for the unused coverage if you decide to switch companies. The most significant discounts include:Insuring more than one vehicle on the same policy, and/or bundling car and home insurance with the same carrier.

Source: Forbes June 22, 2017 17:11 UTC