The Annual Percentage Rate (APR) is the approximate yearly cost of borrowing money from a financial institution. It reflects the interest and/or fees assessed in conjunction with your balance and serves as a basis for choosing between similar financial products (e.g. between multiple credit card offers or mortgages).

Many different types of financial products have APRs, including credit cards, auto loans, mortgages and personal loans. As you’ll see below, APRs function a bit differently for open-ended financial agreements such as credit cards than they do with closed-ended agreements like mortgages.

We all dread the counter at the car rental company. Confusion over coverage causes many travelers to either buy expensive, duplicate insurance or to drive away without adequate protection. Checking all the insurance boxes on a rental contract can easily add $300.00 to the cost of a week’s car rental. But wrecking a rental after declining the insurance would trigger a much bigger bill. Faced with aggressive sales pitches, it pays to know your options before you rent.

Do You Need Rental Car Insurance? The Quick Answer

If your personal vehicle is insured and you pay for your rental with a credit card – or if you are taking a business trip -- you don’t generally need to buy extra insurance when renting in the United States or Canada.

Non-owner car insurance is coverage for licensed drivers who don’t own a car but drive using rental cars, car sharing services, or borrowed vehicles. Drivers are eligible for non-owner insurance if they have a valid driver’s license and do not own a vehicle. Many insurers will not write a non-owner policy if a driver has access to a vehicle in their household.

Key Things to Know About Non-Owner Car Insurance

• Non-owner policies provide the minimum coverage required by the state, as well as some optional add-ons.
• Most major insurers offer non-owner car insurance.
• Non-owner car insurance costs between $200 and $500 per year.
• Consider getting non-owner car insurance if you don’t own a car but plan to frequently rent or borrow one.

Military car insurance policies are coverage options that provide discounts and special benefits to military personnel, veterans, and members of certain military associations. The best military car insurance companies are USAA and Geico, as they offer the largest discounts for military members.

Key Features of Military Car Insurance

• Direct discounts of up to 15%
• Additional discounts through military associations
• Perks including payment deferrals and military-specific customer service
• Policy flexibility during deployment

Best Military Car Insurance Companies

• Geico
• USAA
• Armed Forces Insurance
• Progressive
• State Farm
• Farmers
• Travelers
• Liberty Mutual
• MetLife
• Allstate
• Nationwide
• American Family Mutual

The U.S. is dealing with a fall surge in the COVID-19 pandemic, and different states have reopened at different rates. Some states have paused their reopening plans or have even reversed course and issued new restrictions. The U.S. experienced a slight increase in new unemployment claims week-over-week, which shows that we’re in a saw-toothed shaped recovery.

There are currently 12.6 million Americans unemployed due to the COVID-19 pandemic in total. Last week, there were 898,000 new unemployment claims nationwide, which is a lot fewer than the 6.9 million during the peak of the pandemic (an 87% reduction).

You can get car insurance online, over the phone, or in person with an insurance agent. The best way to shop for car insurance is to compare quotes from different insurance companies online. That way, you can quickly find the lowest price for the coverage you need.

The way you choose to buy insurance is entirely up to your personal preference. Some people want the personal support of an agent, while others like the convenience of purchasing insurance online. No matter which method you choose, remember to verify your state’s car insurance requirements before purchasing a policy. Nearly all states have a minimum liability coverage requirement, which you are obligated to meet. You can also buy additional liability coverage if you want it.

Few things are as important to your insurance rates as your driving record and the points against you. Michael Barry of the Insurance Information Institute points out that your driving record is an important factor in how much you pay for auto insurance, and he advises drivers to periodically obtain a copy. A driver’s license check is easily obtained, often for about $10 or less. It’s usually accessible online, and checking your record may reveal errors.

Below, we’ll help you understand why it’s important, what to look for, and what you can do if you find problems.

EDITOR’S RATING

3.8 / 5

PROS

• 60K bonus points (worth roughly $480) for spending $4K in the first 6 months
• 4 points per $1 spent at restaurants worldwide
• 4 points per $1 spent at U.S. supermarkets (up to $25K spent per year, then 1 point)
• 3 points per $1 spent on eligible flights
• No foreign transaction fee

CONS

• $250 annual fee
• Points worth less than 1 cent, on average
• Limited ability to carry a balance from month to month
• Credit card with no preset spending limit

The Verdict: American Express® Gold Card offers lots of rewards, especially on travel and dining purchases. But it costs a pretty penny, too.

WalletHub’s insurance company reviews are designed to help consumers efficiently find the best car insurance, home insurance and other types of coverage by providing impartial, data-driven ratings for insurance companies across the country. More specifically, WalletHub evaluates insurance companies in seven key areas – ranging from cost and customer service to claims and transparency – in order to demonstrate each company’s suitability for a variety of different types of people who may be shopping for insurance coverage.

Each category in WalletHub’s review framework has a certain maximum point value attached to it, reflecting WalletHub’s estimation of its importance in the process of choosing an insurance provider. Each category also has a list of criteria and benchmarks that companies must fulfill or hit to earn a certain number of points, which reflect WalletHub’s definition of a 5-star insurer – based on market conditions and what we believe are reasonable terms.

Energy is expensive. In fact, it’s one of the biggest household expenses for American consumers. According to the U.S. Department of Energy, the average U.S. family spends at least $2,000 per year on utilities, with heating and cooling of spaces alone accounting for more than half the bill. In 2019, the average consumer spent another $2,094 on motor fuel and oil. This year, many Americans can expect their home energy costs to go up, considering the widespread closures of businesses and public places that took place due to the COVID-19 pandemic. Residential electricity use has increased during the pandemic.

The Department of Energy estimates that adopting energy-efficient measures in the home could reduce a family’s utility costs by as much as 25 percent. It pays to conserve, especially during a time of increasingly warmer temperatures. As for transportation, the agency found that a more fuel-efficient vehicle could save the average driver about $545 per year.