Smart Strategies for Young Adults to Cut Car Insurance Costs
Hugh suggests reviewing coverage limits to match actual needs, especially for older vehicles. "Comparing quotes, increasing deductibles, and bundling policies can reduce costs." Discounts for safe driving or multiple policies are worth exploring. He advises keeping coverage simple and considering good student discounts or usage-based programs. Adding young drivers to existing policies often yields better rates.
2025 Auto Insurance Rates: Weather and Trade Tariffs to Drive Changes
Hugh predicts that 2025 will see insurance carriers adjusting rates due to "extreme weather risks and trade tariffs affecting auto parts." Key indicators include vehicle costs, part availability, and environmental factors. These elements will shape the landscape of auto insurance pricing.
Navigating Flood Insurance: NFIP vs. Private Plans
Hugh highlights differences between NFIP and private flood insurance. NFIP offers standardized coverage, while private plans provide higher limits and flexibility. Pricing varies, with private insurers often cheaper for low-risk properties. Basement coverage is limited, focusing on structural elements, not personal property. Hugh advises, "It's crucial to shop around and compare NFIP and private options to determine the best fit for your needs."