One of those expenses that we hate to pay when we don't seem to need it is auto insurance. But, it is great to have when we do need it. Further, in many states, it is against the law to drive without auto insurance. That does not mean that you should pay too much, however. Consider how much money you could save per year, if you paid just $50 per month. That is $600 for the year. You could save that money and earn interest on it. The results can be staggering.
I recently turned 25, so I am awaiting the great savings that occur when you reach that milestone. Whether you have reached that milestone, or not, you might be paying too much. There are a couple of things you can do to lower your auto insurance costs:
- Have a better driving record (don't speed, don't get in a wreck)
- Take a defensive driving course
- Bundle homeowners insurance with auto insurance
- reduce your coverage and/or raise your deductable (this would be your decision, not mine)
- Shop for better insurance
The choice is up to you; you have options. Following are some links to various places that you can receive free quotes for auto insurance. Who knows, maybe you could save some money.
- Insurance Price War
- 21st Century Insurance Company (CA, AZ, IL, IN, OH, and TX Only)
- Online car insurance quotes (CA Only)