An Unacceptable Quote!
Many times when you buy a new car, your car insurance company will raise your quote. At-least that’s what happened to me. My bill that was once only $1,200 a year suddenly skyrocketed to $3,500.
Maybe it’s because of the new car I bought, but if there was one thing that was for certain, it’s that it wasn’t a quote I was willing to accept.
I created this post because without the advice of a few friends, I’d probably still be stuck with that same hefty annual bill that I’d more than likely struggle to pay off. Following you’ll learn a few tips and pieces of advice you can use to lower your monthly car insurance bill if need be.
Contacting My Agent
The first thing I did to try and lower my car insurance payment was contacting my agent. They went out on a search and while they did that, I began looking at more generic type companies myself. You know the ones you usually see on TV and the kind of policies that you can’t get through an agent.
These are known as captive insurers and direct writers, which typically have very cheap quotes as a result of the direct competition. These are companies you’ve probably heard of already such as Geico, All State, Progressive, and so on and to my surprise, I was shocked at how much lower my monthly insurance bill already ended up being.
For the record, the old car insurance I had was through a company called Safety Insurance, which I already wasn’t the biggest fan of for a few reasons. But most namely, I was disappointed in the fact that they felt like they could just up the price on me without any kind of dispute on my behalf.
I believe the reason they do this is because a lot of people purchasing brand new cars might feel like there is nothing they can do about it and so they just accept the new quote. But I don’t recommend doing that and if you’re going through the same thing as me, well then it might be time to begin searching for a new agency.
What I Did To Lower My Monthly Payments
So here were the steps I took and to be honest, it wasn’t all that difficult. I searched online for the best car insurance companies out there, or at-least the most affordable ones.
I started with progressive.com and as soon as I entered in my information, it knew exactly the type of car I had and how long I’ve had it.. Technology these days!
Nevertheless, the process was extremely easy and in no time I was taken to a page where I would then begin to decide on my deductibles and various coverage policies.
I proceeded to enter in the same exact coverage policies I had with my old Safety Insurance policy (just to compare), and by the end found that I had already reduced my bill by nearly $1,500!
As you can imagine, this really made me wonder why and how a company such as Safety Insurance could suddenly be charging me over $3,000 a year.
I thought to myself.. How crazy, and knew they were merely trying to rip me off. Even with the same $500 deductible on collision, I was still able to lower my payment.
I ended up bringing my monthly payments down even further by taking off some of the coverages I felt I didn’t need. For example, $100,000 in property damage, felt a little bit too excessive to me..
I’m not sure how one could even damage that much in somebody else’s property unless they were to.. ram into someone else’s garage?
My Final Quote From Progressive
The final car insurance bill from Progressive came out to be $1,700 for the year with an option to save 25% if you were to pay 6 months in advance. I believe it was something like $780 for 6-months, which I was totally fine with. In-fact I couldn’t have been more relieved to bring down my car insurance quote by half of what it originally was.
It honestly had my heart rate going quite a bit as it was not something I would have come to expect. Tripling someone’s car insurance out of the blue didn’t feel right. I understand that some of it is merely the result of buying a new car, but the final quote just felt way too inflated.
Anyways, I haven’t canceled Safety’s Insurance policy just yet, as I’d still like to compare some of the other quotes as well. But all in all, I’m quite happy and relieved to see how there are so many other options out there that are worth taking a look at..
Moral of the story? Never settle, until you’ve found what you want!