Insurance: Not All Options Are Created Equal
Insurance: Not All Options Are Created Equal
You’re Probably Overpaying On Your Insurance
If you or a family member have done any time in the armed services, you can get a basic liability insurance package with a $2 towing add-on for like $25 a month, sometimes less—at least that’s the case on certain vehicles. As you doubtless realize, different cars will have different associated insurance rates.
If you’re not able to go with USAA, you may end up spending as much as $74 for a liability package—that would be the cost through a traditional outlet like Farmer’s Insurance. Specifically, a compact 2015 Chevy is being used in conjunction with a thirty-four year old male’s driving record to give these stats.
Here’s the point: if you just called one insurance agency and went with them, you might be setting yourself up for hundreds of dollars in annual losses you could totally have avoided. The problem is, calling each agency up individually tends to take a little time. Following we’ll outline how to more swiftly compare and contrast differing insurance options for the cheapest rates.
1. Use A “Catch-All” Option To Explore What’s Out There
Nerdwallet.com offers an article which asks your zip code, whether you’ve got a home, your age, and whether you’ve got more than one vehicle. Enter that information and you can compare and contrast rates with ease.
However, you’re still going to have to answer all the questions on the “home” sites. So basically, you're just getting a list of the most popular insurance options.
2. Manually Explore Differing Agency Options
What makes a lot of sense is just doing the dirty work yourself. Have your Vehicle Identification Number (VIN) readily available, your driver’s license, and two or three hours’ free time. Then just enter the information in and explore the rates that pop up. You should be able to narrow it down to one or two agencies within a few hours.
Don’t scoff at the work involved. Spending two hours searching for insurance could save you hundreds of dollars throughout the year; think of your time as being paid by such rate exploration in terms of long-term savings. Going the quick and easy route could cost you hundreds of dollars. Taking your time saves that money.
3. Get A Little Advice, See What Discounts You May Qualify For
Ask around among friends or family to determine who is paying what with whom. Also, consider your deductible. A higher deductible means a lower overall insurance rate. The deductible is how much you pay after an insurance incident.
4. Explore Local Laws To Determine Insurance Requirements
New Hampshire and Virginia do not legally require car insurance. That means you’re out of luck in Wyoming—unless you’re wily enough to get your vehicle licensed in NH or VA. Hey, if you’ve got a relative who will let you use their address, it’s an option; but God help you if you get in an accident without proper funds to cover the cost.
Pay attention to local laws, though. There could come a time when those on the books now change. That’s unlikely, but it’s not impossible.
Getting The Best Deal On Auto Insurance
Know local laws, get advice, shop around, explore sites that compare and contrast rates, increase your deductible, and determine if you qualify for any discounts like those available through USAA owing to military affiliation.
These are just a few ways you can reduce your monthly insurance bill. For more tips on vehicular ownership, acquisition, and sale, be sure to explore our blog at Anybody’s Autos!