Company that I'm with for the last 7-8 years is widely considered to be the best and one of the most affordable in my state (NJ) The entire time they have been great, and everyone close to me is with this company. Their insurance has gone up too, but not as much as mine. And I don't have any serious violations and I never had an accident in over 25 years.
My renewal is around the corner, and my insurance is going from about $2500 to $3900 for a year for a single vehicle, and single driver.
That got me wondering what if I can save money elsewhere, and since I haven't shopped for insurance for a while I wanted to see what is frugal community doing.
What are your favorite frugal tips and tricks when shopping for car insurance?
byu/hopopo inFrugal
Posted by hopopo
3 Comments
A company I was with raised their rates by a lot, enough so it was worth shopping. I saved a ton of money by switching. I should not have been able to save that much money. My theory is that some companies raise their rates for their current customers more than they should, maybe to make up for lowball quotes to new customers.
Always get a quote from an insurance broker. It saves time and they may have access to a company/companies you didn’t consider.
Always be shopping for less expensive insurance and be ready to pull the trigger.
I was brought to my attention that people think you can’t cancel insurance policies at any time. People, people, people due your due diligence.