An hour of my time saved me over $375.00 on six months of auto insurance. The quotes I received surprised me. I didn’t expect to see such a difference in premiums. We’re all one phone call away from saving a lot of moola.
Before searching for quotes, I needed to determine how much coverage I need. My Honda Civic, Justine, is pretty old. She’s part of the family to me but she’s not worth a lot of money. She’s only worth $2600 according to Edmunds and $2500-3600 according to Kelly Blue Book. Is getting collision and comprehensive coverage on her worth it? I decided to take a pass on collision and comprehensive. Two agents suggested that I just get liability coverage. Many of us are paying for double coverage. Check your other insurance (health, home, etc) to see if you and your car is already covered by it.
There are a ton of insurance companies out there I could have called. To make it easier on my time and sanity, I contacted two additional companies, State Farm, and Geico. I called State Farm because they are a reputable company that’s headquartered in Bloomington, Illinois. Geico is known for great rates and good customer service.
Below are quotes of what my current coverage is:
- Allstate – $575.60
- Geico – $265.90
- State Farm – $412.63
These are quotes for only liability coverage:
- Allstate – $377.66
- Geico – $156.40
- State Farm – $298.17
Geico is the clear winner on price.
My Allstate agent made did her insurance magic. She knew my situation and was familiar with my parent’s insurance so she started tapping on her keyboard. My insurance premium became $200.48. How was she able to accomplish this feat? She added Justine to my parents insurance now that I live with them. That enabled her to include other discounts (save driver, multiple policies, and muliple cars). I ended saving over $375.00 on my car insurance.
I decided to stay with Allstate. They are based in my backyard (Northbrook, IL), and my parents has had a long relationship with this particular insurance agent. If I lived on my own, I would have jumped on the deal from Geico.
A few minutes of my time saved me hundreds of dollars by choosing the right amount of insurance, shopping around, and an agent that knew my situation based on a long term relationship. I can use the money saved to pay off my credit card debt, to save for another car, or put it towards a trip. It’s money that I don’t have to earn. Hmmm… Spending $750.00 can pay for a pretty sweet trip to London. I think I’ll spend it on financial well being.
How much money can you save on your auto insurance and what would you do with the money?
Summary
- Determine how much insurance you need.
- Call for quotes on coverage.
- See if you qualify for any discounts.
- Choose the best insurance for your needs!
I have geico too…a 15 minute call did save me a bunch of money. It was like $850 with one company, and $542 with Geico. I love them too…they’re very nice!
Yup! Super nice! I tried getting my parents to switch but they are hesitant to switch over because they want to talk to the representative face to face. Funny thing is that I think I’ve talked to our Allstate agent in person than my parents have in the past two years!
Based on the rates, I will be switching to Geico when I move back into Chicago unless Allstate does something with their rates.
Miss you Thom!
–mark–