As the holiday’s come closer and the end of the year approaches, you’re probably finding unexpected end-of-the-year payments and all of your extra money going toward traveling and gifts. One way to help save money is shopping around for auto insurance. My 6-month premium will expire at the end of December, so I went shopping for new auto insurance to see how much I could save. I ended up switching from Geico to AAA and saved $200 off of my 6-month premium! That’s $400 per year!
How to shop for insurance:
1. Research. Google search auto insurance. Request quotes from several auto insurance companies to see which can offer you the cheapest price for the same coverage. WARNING: You WILL receive tons of e-mails, phone calls, and mail regarding insurance plans.
2. Professional Affiliations: Make a list of organizations that you are a part of that can provide discounts. Also, if you’re in school, some insurance companies provide a discount for your stellar GPA’s :-).
3. Education: Take a defensive driving course. These courses can lower your insurance in the short term and over time.
4. Buy in bulk. Pay your 6-month premium in one payment. Usually you can save $5-$10 per month by paying your entire premium at once. I like doing this because I can pay for it up front and forget about it for the next 6 months. I prefer to make 2 big payments vs. 12 smaller payments.
5. Ask Questions. If you like the insurance you currently have, call and tell them you’re looking into other insurance plans or tell them about a cheaper quote you received from another insurance company and they may be able to find you discounts that you didn’t know existed.
Tell us how you save on your bills!