Money Talks News: Year-End Review: Car Insurance

As one year ends and another begins, it's time to look back, look forward, and look for savings.

Insurance is a great example. This stuff's expensive: you've got to review it. What I do is review my health and home one year, life and car insurance the next. Today I'm reviewing my car insurance. The goal?

Save 20 percent.

Fastest and simplest ways to save? Raising deductibles. Going from $250 to $1,000 means saving 10-15 percent on your comprehensive and collision.

That I've already done. But here's something I could consider: letting my insurance company monitor my driving. It's a concept called Pay As You Drive Insurance.

The way it works is that you would share your driving data with the company. And with this data we'd have the ability to see if you're a particularly safe driver or if you drive less often and it would end up in a personalized discount which could be as much as 30 percent."

This I could do, but I won't, for two reasons: first, there are restrictions for this type of coverage, like no driving after midnight.

Second, I hate the whole idea of my company in my car. But here's something I can easily do:

I can go online, shop around, and see if the rates I'm paying are reasonable.

I can also call company and make sure I'm getting all the discounts I'm entitled to, from safe driver to over 50.

But here's the bottom line: You need to review expensive stuff like car insurance, and the end of the year is a good time to do it. It takes minutes, and could save you hundreds.

I've got more things you can look for - a lot more.

Just go to Money Talks and do a search for "insurance."