Are you ready for what happens after the storm?
When extreme weather hits a community, the fallout stretches far past flooded streets and broken windows. According to the National Oceanic and Atmospheric Administration, Americans lose billions every year to natural disasters — costs that show up fast in household budgets through emergency expenses, surging insurance bills, and lost income. The Federal Emergency Management Agency warns these…
Car insurance isn’t cheap — and it’s getting more expensive. As of June 2025, the average cost for a full coverage policy in the U.S. is $2,680 per year, according to a Bankrate analysis. That’s a hefty price tag, especially if your car mostly just chills in the driveway.
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If you’re working from home, retired, or just not driving much these days, pay-per-mile auto insurance might fit better. You pay a small base rate, then a few cents for each mile you drive.
Here’s when pay-per-mile insurance makes sense, and how to shop around for the best rates.
Pay-per-mile policies still give you the same protection options as regular car insurance (liability, collision, comprehensive, etc.). The only difference is how the billing is calculated.
You pay a small monthly base rate, then a few cents for every mile you drive. The fewer miles you rack up, the less you pay.
Here’s a quick example:
Total cost that month: $30 + (500 × $0.06) = $60
The base rate is largely decided by your driving history, location, car type, and more, but it’s way cheaper than a regular policy.
As for mileage, this is usually tracked by a plug-in device connected to your vehicle. Some insurers also offer built-in tracking if your car already has the tech. It’s automatic, secure, and more accurate than guessing your mileage on a form.
As with any insurance policy, shopping around is super important. Two insurance companies offering the exact same coverage could have two completely different prices.
You might be able to save hundreds of dollars per year just by switching car insurance — and it only takes a few minutes to find out. Check out this free tool to compare rates from the top insurance companies.
If you drive fewer than 10,000 miles per year, you should at least run the numbers.
Here are a few groups that might benefit most:
Note: Some insurers cap your daily charges. So if you take a weekend road trip or vacation drive, you won’t be penalized for going over.
If you drive a decent amount (say, over 12,000 miles per year), then a traditional auto insurance policy might be cheaper. Same goes if you drive in areas with higher accident rates or live in a state where per-mile policies are limited or unavailable.
Also note: While the tracking tech is usually hassle-free, it’s not for everyone. The device that tracks your mileage might also send your location, speed, and other data points to your insurance company.
So if you’re not cool with a device or app monitoring your mileage, it’s probably best to stick with a traditional policy.
If you’re not clocking a lot of miles behind the wheel, there’s a good chance you’re overpaying for car insurance. Pay-per-mile policies offer a smart alternative, especially in today’s flexible work world.
They won’t be the right fit for every driver — but for the right person, it’s a low-effort way to put money back in your pocket.
And in this economy? Every little bit helps.
Explore the best car insurance companies in 2025. You could save hundreds by switching – and retain the exact same coverage types you already have.
This credit card is not just good – it’s so exceptional that our experts use it personally. It features a 0% intro APR for 15 months, a cash back rate of up to 5%, and all somehow for no annual fee!
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We’re firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers.
Motley Fool Money does not cover all offers on the market. Editorial content from Motley Fool Money is separate from The Motley Fool editorial content and is created by a different analyst team.Joel O’Leary has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
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A lesser-known auto service chain beat out the big dogs for customer satisfaction.
Make the hefty car maintenance bills worth your while. One company ranks highest for customer satisfaction with full-service maintenance and repairs — for the sixth year in a row. J.D. Power’s 2025 U.S. Aftermarket Service Index Study ranks service providers based on feedback from a poll of over 10,000 vehicle owners. Specifically, customers were polled about the following factors: The…
Jamie Dimon warns of trouble ahead. Can you protect your finances?
Jamie Dimon, chief executive of JPMorgan Chase, recently warned that the U.S. economy could soon face trouble, according to CNN. Dimon highlighted rising government deficits, persistent inflation, and geopolitical tensions as risks that could hit the economy soon. He stopped short of predicting disaster, but raised the possibility of stagflation — when prices increase while growth stalls.
The rules are shifting. Miss the signs, and it could cost you.
Borrowing money used to follow familiar patterns. You applied, compared rates, and signed on the dotted line. But today’s credit landscape is more complex and less predictable. From rising rejections to unexpected rate shifts, subtle changes in how lenders assess risk could affect your financial options in ways you might not expect. If you’re not paying attention, you could end up paying more or…
The Federal Reserve is meeting next week, and while no immediate rate change is expected, there’s a bigger question on the horizon: What comes next?
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If the Fed starts preparing markets for rate cuts later this year, it could mean that CD rates will fall as well. CD rates have been relatively high for the last few years, but that won’t last forever. In fact, they could start dropping soon.
Here’s why you may want to get ahead of a possible rate cut by locking in your CD rate now.
As of now, futures traders see a 99% chance that the Fed will keep rates unchanged at its June 17-18 meeting, per the CME FedWatch Tool.
But that doesn’t mean cuts definitely aren’t on the horizon. If Fed officials mention planned rate cuts for later this year, banks could react by trimming their CD rates in advance.
In fact, some have already started — which is why now may be the time to act.
CD rates are closely tied to the Fed’s benchmark rate. As that rate rises or falls, CD yields tend to follow. And right now, top CD rates are still near multiyear highs, with APYs as high as 4.60%.
Once you open your CD, your return is locked in for the duration of the term, which is the main advantage of a CD. That’s why you’ll want to lock in a high CD rate while you still can.
Want to start earning guaranteed returns today? Check out our expert-curated list of the best CD rates available now.
Put simply, a certificate of deposit (CD) is a type of savings account that locks in your money for a set period, usually anywhere from a few months to a few years, in exchange for a fixed interest rate.
You can open one in just a few simple steps:
One popular strategy involves building a CD “ladder” — splitting your money across different term lengths. This creates staggered maturity dates, so a portion of your money becomes available at regular intervals to provide flexibility.
You’ll also want to avoid early withdrawals, which usually come with penalties that can reduce your overall return. Discipline is key.
There’s a chance CD rates hold steady through the summer. But if you wait too long, you could miss your chance to lock in a high yield. Some banks are already reducing CD offers based on what they expect the Fed to do.
And while alternatives like high-yield savings accounts offer competitive returns, their rates are variable. If you’re sitting on extra cash you don’t need right away, putting it in a fixed-rate CD now could give you peace of mind.
Want to lock in a great rate while you still can? Compare top CDs and open one today.
This credit card is not just good – it’s so exceptional that our experts use it personally. It features a 0% intro APR for 15 months, a cash back rate of up to 5%, and all somehow for no annual fee!
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We’re firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers.
Motley Fool Money does not cover all offers on the market. Editorial content from Motley Fool Money is separate from The Motley Fool editorial content and is created by a different analyst team.The Motley Fool has a disclosure policy.
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