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Certain life events and milestones can not only mean a big change in your personal life, but also your financial life. There are a number of milestones that can greatly affect your auto insurance policy. Here a few you should be on the lookout for as you navigate the road called life.

Turning 25 - It's generally common knowledge that your age has an effect on how much you pay for auto insurance. We all often get excited when we turn 16, 18 and 21, but turning 25 can actually be one of the more significant milestone ages in terms of auto insurance. That's because statistically, drivers tend to be safer once they turn 25. As a result, your auto insurance policy can actually become cheaper when you hit this critical age. That's also the same reason it can be more expensive to rent a car before age 25, and some companies don't even allow drivers under that age to rent a car. Kiplinger's reports daily surcharges can quickly run up the costs for under-25 drivers renting a car. At the same time, experts caution your rates may not drop if you turn 25 and have a history of accidents or auto insurance claims.

Getting Married - Marriage comes with plenty of perks, not the least of which is normally cheaper car insurance. Many auto insurance companies will charge you less if you insure multiple cars and drivers under the same policy, so getting married could actually save you money, assuming your partner has a solid driving record.

Getting Divorced - If your marriage has come to an end for one reason or another, it's time to reevaluate your insurance needs. Sometimes the rates you were getting as a married couple aren't as affordable as what you could get on your own, so consider shopping around and switching your policy.
Your Kids Leave the House - If your child is ready to head out on his or her own and purchase their own auto insurance policy, drop them from your own in order to keep your policy current and affordable.

Retirement - Another meaningful milestone, retirement, also presents yet another time for us to consider our auto insurance coverage. The website, New Car Buying Guide, suggests evaluating your car needs at retirement - do you need multiple vehicles or can you sell one? Since you're no longer commuting to work, you can probably get a low-mileage discount from your company, and many policies even offer discounts for retirees and seniors.

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