Widow Penalty

I’m Miriam Neff, and I’m Valerie Neff Hogan, with Wise Women Managing Money.

M Did you know that a common penalty for widows is higher premiums for car insurance?  It’s documented in my city.  For three major insurers the increases were 8%, 20%, and 7%.  Typically, our income decreases and this is just one of the expenses that increase. 

V Compare, vigorously and every year.  There are groups that specialize in researching which insurance policies meet your needs and are fairly priced.  Remember that the insurance companies’ goal is profit, not honoring your loyalty. 

M Fun?  not necessarily.  But saving money and comparing are good practices for everyone.