Financial Freedom

2 Lessons I Learned About Car Insurance

I recently had a learning experience with car insurance. Sometimes there are things in life that we just don’t think about because they aren’t significant. This is one of those times when it was in fact significant.

Check Your Zip Code

I recently moved to a new zip code and had to update my car insurance. Apparently the zip code can make a big difference in the amount you have to pay. How significant. My 6th month premium went up $1000. That was a big shocker and was a little scary since I have a wedding coming up and that wasn’t exactly in any budget. So the lesson is, when moving, be sure to get a quote with your new location so you can budget for any changes.

Ask Around

With that sticker shock I decided to shop around a little bit and they all pretty much had the same pricing. So I was just about to bite the bullet and continue with the same company. That’s when my fiancé came home and said she mentioned our little problem to a few co-workers and one of them mentioned to try the company they have their car insurance with. I thought I did get a quote from them but tried it nonetheless and low and behold it was $700 cheaper than what my current insurance company had quoted me. The lesson is to ask around to see other peoples experiences and shop around more than you think is enough.

So now I have more money in my pocket and a wedding on budget. What could be better? Now I need to start looking into life insurance.

Comments (5)

  • Details are important! I routinely shop my insurance policies every year or two.

    Reply
  • And if you get into an accident call your agent. We had 2 accidents, both were clearly the fault of the other drivers, but since we went through our insurance instead of waiting for the other insurance our premiums doubled! Entirely not fair, but that’s insurance for you.

    Reply
  • WOW! You changed the layout of your blog. I love it.

    Another thing to consider when purchasing car insurance is bundling with other offers (or staying on your parent’s insurance until your 25).

    Reply
  • Yeah, there are times in life that we could not predict what happened. Better to secure car insurance because we don’t know even if we try to be make things safe. That’s why I have to update my insurancies.

    Reply
  • I always call about 3 companies at least once a year regarding car insurance rates.

    Reply

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