My mother was paying $147 per month to insure here 2006 Corolla that she put 84k miles on over the life of the car. That's less than 6k miles per year. She recently asked me to get involved in her finances as she is approaching 80 years old.
I was shocked at the amount she was spending on auto insurance, particularly since her income puts her at under 130% of the federal poverty line. She was paying over 10% of her income on car insurance. When I asked the agent about this apparently inappropriate coverage, he offered a new policy at less than half of the original amount.
Clearly this agent did not have the best interest of my mother in mind. She was in tears when I showed her how much she would save per month. Don't expect this agency to have your best interest in mind. read more
