Stop paying too much for car insurance

These poor decisions could be costing you hundreds of dollars in extra premiums each year.

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Sometimes when I look at a body’s budget and I see what they’re paying for car insurance I gasp. The biggest monthly premium I’ve come across was $535 a month. How did the premium get so high? A couple of accidents, a charge of driving with a suspended license and other idiotic moves.

But you don’t have to be a bad-driver to see your insurance premiums high-step to new levels. A mistake or two, combined with rising rates across the industry, can throw your budget out of balance.

My advice is to trade that expensive, foreign car in for a less-expensive domestic model. Sports cars cost more to insurance because they scream: I’m going to speed. And avoid cars that tend to attract thieves. Years ago my then-husband’s high-end Jeep was stolen right off our parking pad. Several months later they came back and took its replacement. The lesson: no more Jeeps. Two-door Integras are stolen far more often than are four-door CSXs. And Audis are ripped off far more frequently than Buicks. You can check with your insurance broker to see what the “hot” models are so you steer clear of higher premiums.

Increase your deductible. If you take your deductible from $500 to $1,000, and add the difference to your emergency fund, you’ll see a drop in your premiums. And if you eliminate coverage you no longer need–think collision and comprehensive coverage on older models–you’ll save even more.

Stop getting tickets. For each moving violation you get, your premiums inch up, until you hit three when they take a giant leap. Accidents and tickets stay on your driving records for years and ratchet up your rates.

Make sure your loyalty counts. While some companies reward loyal customers with lower premiums, don’t let a loyalty discount stop you from saving money. If you think you may be paying too much for insurance, shop around. If bundling your home insurance with your car insurance will get you a better rate, do it. And if making your kid take a driver’s education course means you won’t have to pony up your second-born, spend the money to save even more.

24 comments on “Stop paying too much for car insurance

  1. Yeah, Car insurance also take so much money. My brother have so much idea about this because He works in insurance company. Last week, he had told me about this topic.Now, I become anxious to learn about it more.

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  2. It is better to have a insurance for our car as it supports all types of car accident coverage. And the insurance will help us to claim our accident coverage. But if the insurance amount gets more than the expectation then we need to look after our insurance amount and stop paying insurance bill more than the limit. This information is quite helpful.

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  3. "Stop getting tickets." Now that's advice I wish my kids would have followed back when I was still paying for their insurance. Increasing your deductible however can be a dangerous game of pay me now or pay me later. The wise way to make it work is to put the money you save aside for emergencies. But how many people will actually do that?

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  4. Yeah, car insurance is SO EXPENSIVE these days….. I'll try to follow your hints and see what I can get. thx for posting

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  5. SMART folks raise their deductible for 3 reasons:

    1- It saves money each month

    2- YOU only pay out of pocket the money you saved each month!

    3- You don't risk having your rates go up if you file a small claim. (and they probably will)

    Why not even consider a $2500 deductible?

    You might be surprised at the savings each month.

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  6. The comment about the deductible is great! If you're a safe driver anyway and do not expect to have an accident then that would work great.

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  7. More concern about several things and less paying the car insurance. If you more car insurance then this will be somehow loss of your money. Don't do such things which cost you more. It means don't make the cause of paying more insurance monthly. So certain things need to be taken care. Don't make any accidents or irregular things which is one of the more insurance premium. So be careful if you are car user to minimize the insurance premium.

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  8. Car insurance is most precious to all of us. But some times we've paid extra for our car insurance. but your concept gives me a vital knowledge about the car insurance which helps me to reduce my extra payment for the car insurance.

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  9. It certainly helps to shop around for car insurance. Insurance companies also have standard fees that can be eliminated from your policy that will help lower your monthly insurance payment. So be sure to ask the underwriter exactly what your policy covers and get rid of the stuff that you can do without. However, things like your credit score can keep you from getting good rates as well.

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  10. if you not insured your car properly , how do you claim accidents ?

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  11. Getting the ideal car insurance is always a frantic job. Before holding the insurance policy, you have to choose the reputed company which suits your needs. Read and understand all the terms and conditions of the insurance company which you chosen. Taking car insurance would be a once in your life time, so be wiser when choosing the best. Important part of choosing car insurance policy is all forecast ed coverage should be fulfilled. Through comparing the quotes with other insurance companies you can narrow down the car insurance policy. Many insurance companies offer the various deductions in insurance policy so visit their websites. Best policy can be narrow downed only if you have a detailed checklist. Get a clear idea within yourself about the coverage details and what you require from the insurance company.

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  12. I found this post I couldn’t stop until , even though it wasn’t just what I had been searching for, was indeed a great read though. I will instantly take your feed to stay in touch of future updates 

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  13. Car insurance very essential for every car users. If your car damages in any accidents or breaks for any reason then you will get the benefit of it. But you have to pay less if you are making a insurance police for your car. Don't need to pay too much money as policy premiums. So minimize your expenses or premiums for insurance.

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  14. Hey! Do you know where can we get good car insurance quotes?

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  15. Now car theft becomes a common crime in our society for why peoples like to do insurance for future safety. For that they paid lots of money in an installment manner, but now it is the time to pay a less amount of money for car insurance. I think it is better for a car owner. I thank to this blog for giving us such wonderful and useful information.

    Reply

  16. This is a nice article posted. I have gone through this article entirely and come to know how to make car insurance properly. Because of some obvious reasons we have to pay a high amount of money to tax companies for our car insurance. .

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  17. I recommended your thoughts thanks for sharing this info – See more at:

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  18. It would need a lot of work to link tax exemption to classic car insurance and would be wide open to fiddling! It looks as if Mr. Osborne is aiming for 40 year old cars and I hope he is able to move it each year.I am very grateful for his help as my classic car was built in 1973, so I may be a little biased by this. If I am right, Ken, you only have another seven years to wait. Chris

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  19. For car owner car insurance is essential because accidents are become very common phenomenon. No one can give grantee in life. Many people's life come to end due to road accident and many got injure.

    But there are many cheated insurance company present they took much more money for car insurance. after reading this article no one can go for paying more for car insurance. Thanks for such wonderful and useful information.

    Reply

  20. Car stolen becomes very common and usual crime now day. For why everyone prefers to do car insurance or any other vehicles, at the time of insurance the person should have all knowledge about the insurance.
    There are many cheater insurance sectors are there, in such case it is our duty to do inquiry about that sector for our safety. I think this article gives brief ideas about insurance sector and car insurance.

    Reply

  21. Now-a-days, we have to pay a huge amount of money to car insurance companies. But, it is worthless. Another reason for money wasting is Car repair. The car repair centers are charging a lot of money to re[pair our car but providing low class services. So, its better to maintain and take care of our car rather than to repair it. If we have some functional issues we can go for good repair centers that charge reasonably and also provides good services. .

    Reply

  22. Insuring a car is mandatory as long as it is being driven on the road. This measure was undertaken to protect both the drivers and the users of the road. The above tips will be extremely helpful at the time of choosing insurance police by which one can save money on car insurance.

    Reply

  23. You can get classic car insurance as well. If you do some shopping around you can find some good deals.

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  24. Car insurance is one of the important aspect for every car. We can make control over our car insurance by doing small and very very important things. We have to follow the traffic guidelines while driving our car or any personal vehicle. It will surely help us to avoid any accident that might be happen with us any time. We have do some basic works that need to be done by a car owner. We need to park our car off the road always. We have to park our car in proper parking places or in a garage, but not in public places or roads. Less expensive and less mileage cars will help to reduce the car insurance.

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