Finding The Cheapest Auto Insurance
Drivers will usually complain, no matter where they live
, that auto insurance is one of their most expensive bills each month. In many states that's the case for almost everyone. In some locations, the car insurance can be equal to or greater than the car payments themselves. Finding the cheapest auto insurance available can be quite a challenge, but it's not impossible.Cheap could mean a number of things. You can try to find something that covers nothing more than what your lender and your state absolutely requires as a bare minimum. This might mean only PIP or personal injury protection. However, many locations demand that if you are still paying for your car, you need much more than that.
If you are looking for super cheap, don't even think about leasing a car. Leasing can let you drive a much nicer car than you could afford with a long term loan, but it also increases your mandatory car insurance. The leasing company, who always retains ownership of the car you are driving, wants to make sure that if there is a total loss of the vehicle they will be able to recoup their entire investment. And that kind of insurance is anything but cheap. You'll need to decide what's more important: expensive fancy car or cheap insurance. They don't go together.
Insurance can get cheaper if you increase your deductibles and decrease your limits on comprehensive and compulsory. Increasing a deductible from $100 to $1000 can save you over $200 a year in many instances.
Make sure you don't have riders on your policy that you are paying for somewhere else, too. Frequently credit cards or your original car sales contract will provide benefits like free road side assistance. If so, you don't need to add this to your auto policy.
Check for discounts you can qualify for. Some companies consider anyone 55 or over a "senior citizen" and will steeply discount policies based on that. If you aren"t sure what discounts your insurance company offers, call and ask. Sometimes they have discounts that no one else does. Are you insuring two or more cars? Are you retired military? College graduate? Is your car equipped with an active GPS locator if it is stolen? Is there a discount for paying yearly rather than monthly?
All these things can bring your premiums into a more affordable range in many instances. Many companies will even prorate your current bill in order to give you a larger discount.
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