Would you like to reduce expenses in your monthly budget? Cut your car insurance bill once, and the savings is repeated — automatically — month after month. Here are Six Simple & Practical Ways to Save Money on Car Insurance.
As a working mom, my time is spread pretty thin. There are several things I don’t love doing, but they have to be done anyway. And one of the major ones is shopping for car insurance. These are some of the tips I use to stay sane while doing this.
Determine Your Budget
Look over your monthly budget and determine how much you can afford to spend. Between different companies, deductibles, payment options, and coverage amounts, you should be able to find something in your budget.
Decide on Coverages
In Virginia, in order to purchase license plates or decals, we must certify that the vehicle is covered by the minimum insurance requirements by a company authorized to conduct business in Virginia or pay an uninsured motor vehicle fee.
Virginia requires the following minimum coverage:
- Bodily injury/death of one person $25,000
- Bodily injury/death of two or more persons $50,000
- Property damage $20,000
Based on these minimum coverage requirements, I can get quotes, select an affordable payment plan, and choose a reasonable deductible.
Gather Your Info
I don’t know about you, but whenever I am facing an overwhelming project, I tend to put it off. Take my advice – set aside an hour and just do it. Your budget will thank you.
You might need to give permission to the insurance company to review your motor vehicle report and credit reports. When you start to shop around, you’ll need to share your information, which may include:
- Name and address.
- Date of birth.
- Type, year, make, and model of your vehicle.
- Primary type of use for your vehicle.
- Zip code where your vehicle is kept overnight.
- Ownership status of your vehicle.
- Marital status.
- License status.
- Social Security number.
- Highest level of education.
- Auto insurance history.
- Information about other drivers to be included on the policy.
When you are shopping for car insurance, I would suggest you start your research online. You might have quite a few questions and things you’re a little bit unsure of. Lucas Velez from Comparaencasa suggests you take the time to compare insurance to get the best possible deal.
The more you compare insurance policies, the better the deal you can find.
Get Multiple Quotes
When I was reviewing my monthly expenses, I requested online quotes with three other insurance companies. My current rate is better than all of them. I am not willing to drop the comprehensive coverage on my car, since deer seem to be attracted to cars I drive.
As an added bonus, I added renter’s insurance to my plan, which results in a discount that covers its cost. SCORE!
These sorts of things can be highly intensive. The longer you drag something out, the more stressful it might be. So I would advise that you try to get your car insurance taken care of as quickly as you can.
Try to get everything done in one sitting and you will be thankful for it in the end. I would suggest you set aside an afternoon and dedicate it to finding the perfect insurance plan. Comparing and contrasting insurance can be mentally taxing, so try to take plenty of breaks.
While I don’t love the process of reviewing my car insurance, it has to be done. So, here’s a recap of the process: determine your budget, decide on coverages, gather your info, shop online, get multiple quotes, and don’t procrastinate.
By using these strategies, it makes the whole process little more bearable.
What tips do you have for saving money on car insurance?