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by Laurie 10 Comments
This week while driving down the road my 14-year-old-almost-soon-to-be-driving-yikes-son asked out of the blue if you would have to call the insurance company or police if you were in an accident that involved only your own car and no one else.
Y'all, why does he ask stuff like that? Is it to make this already-going-to-be-crazy-when-he-drives-momma worry a year sooner about his driving future?
I have no idea where that question came from, but it started a big conversation as we drove along.We've always done all we can to keep our car insurance premium low (meaning our deductible is usually high), and in general avoid claiming minor incidents to our home or automobile to reduce the chance of our insurance premiums going up.
We explained that by not having accidents and keeping a good driving record without any tickets, your car insurance costs can be reduced.We then let him know that we fully expect him to keep that same plan in mind for himself. (Just figure the kid will also be fully bubble-wrapped before he's given keys to the car.) 😉
Have you looked at ways to save on your car insurance?If you've got a teenager who'll be driving soon (ugh?) ~ or if you're just hoping to eek out an extra penny by getting the best price on car insurance for yourself, here are a few tips to help keep you saving:
- Consider a plan with a high deductible.If you've got an Emergency Fund in place, you should be able to handle the cost of a higher deductible if you ever are in an accident, and your premium will be reduced. (Do you have an Emergency Fund and written budget? If not, get started.)
- Pay your car insurance bill twice a year rather than in monthly payments.This won't save you a ton of money, but most insurance companies charge a small fee for making monthly payments. If you're able, pay your insurance bill in lump sums twice a year to save more.
- Before purchasing a new car, contact your insurance agency to find out if your insurance will be higher on one kind of car than another.Certain car models have lower insurance rates, so you'll want to consider purchasing a car that offers the best insurance prices.
- Bundle your insurance savings.By using the same provider for all your insurance needs, you'll save more on your home and car insurance.
- Ask your current insurance provider if you're getting the best price.A phone call to your insurance provider is free, and it may be that there are savings that you can get just for asking. Take a minute to check in and make sure you're getting all the discounts you can (a five minute phone call may save you a few dollars!)
- Make sure you're getting the best coverage available at the right price. There are so many different companies that offer car insurance, however you can contact an Endorsed Local Provider through Dave Ramsey's ELP program, to find an insurance professional in your area who will make sure you're getting the right coverage for your family at the best price. They'll look at your insurance needs (for both home and auto insurance), and make sure you're getting the very best insurance coverage by searching policy prices and coverage options from several different companies for you.
Checking in once a year with your insurance company to make sure you're getting a good rate is a great way to make sure you're getting the most savings you can while maintaining good coverage. AndDave Ramsey’s Endorsed Local Provider (ELP) programis a great place to start looking for an insurance provider in your area.
Dave Ramsey's ELPs understand insurance, and most importantly they have the same financial goals that you have. They can help you find the best price on insurance for both your car and home, and there are even providers you can use for investing options, tax help, realtyand more.Find out how to get in touch with an insurance providerwho’s partnered with the Endorsed Local Provider program in your area.GoHEREto learn more!
This is a sponsored byDave Ramsey’s Endorsed Local Providers, however all opinions are (of course!) my own.
