BATON ROUGE — When was the last time you checked your car insurance rates? Experts say many drivers are paying more than they need to simply because they haven’t shopped around. But knowing when to look for a better rate could save you hundreds of dollars every year.

And in Louisiana, there’s good news. Auto insurance rates are finally falling. According to the Louisiana Department of Insurance, average rates dropped 2.3% in 2025, with more than 20 insurers filing for rate decreases statewide.

We turned to Kim Chapman, Financial Wellness Director at Neighbors Federal Credit Union, for smart money strategies on the best times to review your policy and what changes could help you save.

Smart Money Tip: Shop Around After Major Life Events

“It’s more predicated around those life events,” Chapman said. “So if you have something significant that’s changed, then that would be a good time to look for new insurance rates.”

Life changes like birthdays, an improved driving record, or a jump in your credit score can all impact how much you pay.

“If you’re no longer in that young and risky category, or if a wreck has dropped off your record after a few years, that’s the time to check rates,” Chapman added.

Smart Money Tip: Fix Your Credit, Lower Your Premium

“Your credit score is always overlooked,” Chapman said. “A lower credit score is going to lead to a higher insurance premium, so you want to make sure you’re taking care of it.”

If you’ve been working to raise your credit score, that improvement could be your key to a lower car insurance payment.

Smart Money Tip: Don’t Get Caught in a ‘Bundle Trap’

Bundling your home and auto insurance can save money — but not always. Chapman says it’s important to compare quotes carefully.

“You just want to make sure that you’re comparing apples to apples,” she explained. “If you call Insurance Company A and bundle your mortgage and two cars, make sure Company B is quoting you on the same thing. One mismatch can be a little distorting.”

Smart Money Tip: Neighbors Can Help You Find Your Best Fit

Neighbors Federal Credit Union offers a free financial tool called the Blueprint for Financial Success, designed to help members better understand their full financial picture.

“Whether it’s your auto insurance premium or your home, Blueprint is that one stop where we can customize and tailor your financial needs,” Chapman said. “If you don’t even know where to start — how much you can afford, what your credit looks like, or how much debt you have — we can help you navigate all of that.”

Click here to start your Blueprint for Financial Success.

Editor’s Note: This article is part of a sponsored segment paid for by Neighbors Federal Credit Union.

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