If you’ve had a birthday since you’ve signed up for car insurance, good news! In many cases, the older you get, the lower your insurance rates are. This is a prime opportunity for you to shop around for new insurance rates. You can do it either at the company you’re at already or at another company. Studies show that rates often drop more than 50% for drivers between 20 and 25 and continue to decline up until age 60.

Take advantage of the annual or bi-annual renewal term to see whether you qualify for a lower rate.