walletcanvas walletcanvas
Search
  • Home
  • Wealth Solutions
  • Financial Planning
  • Mortgage
  • Insurance
  • Housing Finance
Reading: How did you adjust your automatic policy when you turned 26?
Share
Wallet CanvasWallet Canvas
Search
  • Home
  • Wealth Solutions
  • Financial Planning
  • Mortgage
  • Insurance
  • Housing Finance
© 2025 All Rights reserved | Powered by Wallet Canvas
Wallet Canvas > Insurance > How did you adjust your automatic policy when you turned 26?
Insurance

How did you adjust your automatic policy when you turned 26?

April 2, 2025 7 Min Read
Share
How did you adjust your automatic policy when you turned 26?
Woman smiling in front of cash fan-outed with car key

Photo by Getty Images. Illustrations by bankrate

Turning 26 isn’t a big milestone birthday that would make you 18 or 21, but it was accompanied by personal and financial adjustments. I’m going to bake all my bread from scratch now (18 years old I’ll roll her eyes). I also looked at my insurance carefully, as I am not a youthful operator in the eyes of car insurance companies. Here are some key steps I’ve taken in reporting after blowing up this year’s candle.

1. I checked my coverage and deductible choices

If you don’t start a story by reviewing existing policies thoroughly, you ignore your role as an insurance agent. I had an insurance contract for my parents in my early 20s, and they set up coverage restrictions and deductions that I mimicked in my first independent auto policy. Now that I’ve become a licensed agent, I know how to have a more informed view of my reporting. There are several ways to change (and not) the policy.

  • I kept my coverage limit high: It feels like the world is constantly becoming more expensive. This means that accident costs are higher than ever. I could have put in compensation limits to save a few dollars, but the potential out-of-pocket costs are not worth it to me. So I decided to maintain the liability limits with the best options my career offers.
  • Reduced the deduction to $500: My collision and comprehensive deduction were both $1,000, but I live in Montana, where animal collisions on the road are very common. After firing $1,000 to file a comprehensive claim when struck a bear last year (don’t worry, the bear was fine), I decided to pay a little more at the premium for a lower out-of-pocket cost if another charge arises.
See also  Hosting season is here. What the Insurance Adjuster wants you to know about social host responsibility

2. Comparing quotes from other carriers

Age is my state’s permitted auto insurance rating factor. All airlines define youthful operators differently, but 26 is usually a significant age that brings lower rates for some drivers. After turning 26, I set aside time to compare quotes online from a few insurance companies. I shopped, switched my career to progressive at age 25, saving over $30 a month with my premium. Given how much I saved last year, I wasn’t surprised that most of the fees I saw this year were closer or higher than the interest rates I had already paid.

We are conditioned not to talk about money with friends, but as a nosy generation Z insurance agent, I absolutely ask what they pay for car coverage. Although auto insurance is highly personalized, chatting with friends and family can help you determine whether the fees you are paying are standard. This also helps you identify potential local carriers that you may not know. These carriers usually don’t offer online quotes, but it’s worth pursuing a quote over the phone knowing that local carriers and someone can get a big fee.

Ultimately, my only friend, significantly less than I do for coverage, drives 90’s trucks without collisions and no coverage. This, combined with the actual quotes I got, made me believe I’m working with a proper career for now.

3. I looked up the discount

Discounts are one of the easiest ways to save on car insurance, and your eligibility can change with your age and lifestyle. We quickly scanned Progressive discounts and completed our policy review. Most of the low-hanging fruits – paperless billing, secure drivers, electronic payments – had already been explained, but there was one easy get I had avoided. If you agree to pay my six-month premium in full, you save $11. I wish I had been there as a manager who takes advantage of all my savings opportunities, but for now I have chosen to stay in my financial comfort zone and maintain my monthly payments. I’m probably 27 years old and I’ll pay in full.

See also  Liberty Mutual RightTrack Review | Bankrate

4. I tried to change the duration of my policy – and failed

In most cases, car insurance companies cannot raise rates until their policies are updated. So, if you get into an accident or a carrier file due to a rise in the state rate, it won’t increase until updates.

Auto insurance premiums have been high over the last few years, and many airlines have quietly switched to a six-month policy as the default option rather than the classic one-year policy. When I switched my career last year, I was automatically given a six-month policy. With more know-how this year under my belt, I confidently called Progressive and requested that I switch to a year-long policy when the following month’s policy was updated.

Customer Service Representatives should tell us that policies sold through Progressive Agents are subject to the yearly policy terms. However, this is not the case with online purchase policies. It’s no exception. I’m not complaining about just encouraging people to switch careers, but I made a mental note to check this out the next time I change my career. You can also connect with local agents in my area to adjust the policy in that way.

Conclusion

While major changes in situations like milestone era, tickets, moving, marriage and more are all good reminders to review your policy, all the steps above can be taken at any time even during the policy period. If you’re a young adult who is still learning to manage your own insurance policy, chatting with an authorized agent with your insurance options, discounts and deductions is a useful way to ensure you don’t overlook any aspect of your coverage.

See also  When to file a homeowner's insurance claim

TAGGED:Insurance
Share This Article
Facebook Twitter Copy Link
Leave a comment Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

HOT NEWS

pexels karolina grabowska 4386367

7 Tax-Efficient Strategies to Build Long-Term Wealth in 2025

Tax efficiency plays a crucial role in building long-term wealth, but it’s often overlooked. Without…

April 5, 2025
What is the actual cash value of my car?

What is the actual cash value of my car?

If you need to know the market value of your car insurance to buy or…

March 17, 2025
Why American Express is not universally accepted

Why American Express is not universally accepted

Thomas Trutschel/ Getty Images If you're traveling abroad quickly, you American Express Card It may…

March 17, 2025
How to fill out FAFSA if your parents are same-sex partners

How to fill out FAFSA if your parents are same-sex partners

Tetra Images/Getty Images If you have same-sex parents, you have completed the FAFSA. It's easier…

March 17, 2025
City Double Cash: A great cashback card to pay off your debts

City Double Cash: A great cashback card to pay off your debts

Hispanoristic/E+/Getty Image City is an advertising partner. If you're looking for a way to reduce…

March 17, 2025
VA Rehabilitation and Renovation Loan

VA Rehabilitation and Renovation Loan

Alistair Berg/Getty Images What is a VA renovation loan? VA renovation loans are a type…

March 18, 2025

YOU MAY ALSO LIKE

How speeding tickets affect South Carolina insurance

In South Carolina, leadfoot comes with a permanent price tag. A simple speeding ticket may seem like a big deal…

Insurance
May 6, 2025

How to prepare your home for summer to avoid damage

The summer of 2025 is beginning to become a scorcher. With a three-month outlook for July, August and September 2025,…

Insurance
June 4, 2025

National Smartride Reviews | Bankrates

Customers across the country are encouraged to consider signing up for the company's telematics program called Smartride. According to Nationwide,…

Insurance
May 7, 2025

How many vehicles are there in the US?

Over 90% of US households own at least one car, and this required cost could represent an increasing burden for…

Insurance
April 28, 2025
walletcanvas

Welcome to Wallet Canvas, where we bring clarity to your financial journey. Our mission is to empower individuals with the knowledge and insights needed to make informed financial decisions.

  • Wealth Solutions
  • Financial Planning
  • Mortgage
  • Insurance
  • Housing Finance
  • About us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms of Service

Follow US: 

© 2025 All Rights reserved | Powered by Wallet Canvas
Welcome Back!

Sign in to your account

Lost your password?