Ideally, you should re-shop your insurance every year, when the policy comes up for renewal, said Victoria Fillet, a certified financial planner and a co-founder of Blueprint Financial Planning in Hoboken, N.J. That's easy found money to stretch your budget, pay down debt or boost savings for other financial goals.
"These kinds of expenses have a tendency to inch up on us," she said. "If you don't pay attention, you wind up paying more than you really have to. Even if you can afford the higher rate, why pay more than you should?"
You should also look to re-shop when you undergo a life change that could influence that rate or make you eligible for difference discounts, Fillet said. For example, if you move or switch jobs, get married or divorced, buy a new car or add a teen driver to the policy.