How does car insurance help to save money?

On a whole car insurance does not “save money” because insurance companies have to pay their people and make a profit. Insurance is valuable when a bunch of individuals say “I would like to reduce my risk of a big financial loss in exchange for paying a relatively small fee each month”.

Bad accident claims can be over $100,000. Most car insurance is around $1000 a year. So you reduce the risk of having to pay $100,000 all at once by paying a much smaller amount every year.

Hey. As far as I know, the insurance policy is renewed annually or once every three years. Before choosing an insurance company, if you have nothing in mind, you need to read the reviews and figure out in detail what you need. I use Porsche verzekering, before buying the policy, they calculated the different cost of insurance options, this allowed me to make the right decision.

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