Friday, September 26, 2008

How I saved $680 dollars this year!

I’m starting to take advantage of my newlywed status and I thought I’d start with my car insurance. Since my coverage is up in October anyways, I thought I’d shop for new coverage for both of us. It's one of those tips to save money that I always see in blogs, but I always think it is not really worth the time and effort. However, being unemployed means I have time to do things like this, so I did.

I have an old full size car and my hubby has a nice zippy commuter car. We both wanted Bodily Injury Liability of 25K person/50K accident, Property Damage Liability of 25K, Medical Payments of 1K, Uninsured motorist bodily injury of 25K person/50K accident, Comprehensive deductibles of $500, and he needed Collision for his car with a $1000 deductible (my car isn’t worth enough money to get Collision).

Boy that’s an ugly string of information- isn’t it?
Well, after I typed that information into eight different carriers this is what we came up with:

Premiums for six months for both of us:

State Farm-Couldn’t get the site to work, and after five tries I gave up.
All State-$1,038.99
California Casualty-$862.5
21st Century-$741

I thought there would be a difference, but Oh-My-Gosh a $339.99 difference! Talk about a way to save money! That’s a savings of almost $680 for this upcoming year; all for about an hour worth of time in front of the computer. $680 an hour- now that’s a well-paying job!

I had no idea that this would be such a smart thing to check out! Have other people had similar experiences with their car insurance quotes?


BeThisWay said...

Rates can vary greatly from one company to the next.

I was an insurance agent for many years before I retired, and though State Farm's website may not be great it might be worth calling an agent and getting a quote. Having an agent can be a great asset, as they often can act as an advocate for you and get things done that a voice on the other end of the phone, who just happened to get you in the queue, would have no reason to do.

Also a little unsolicited advice - your limits are very low. I know you're young and just starting out, but you do have savings so your assets are at risk. I'd recommend getting a quote for 50/100 liability and 50k property damage liability and just see how much more it would be for double the protection. Price them separately, too, because if the 50/100 is out of reach I'll bed the property damage increase is just a few dollars...

I wrote a series on my blog about shopping for auto insurance, if you are so inclined.

You and your husband are making some very smart moves, which will only set you up to win. Very smart indeed.

FruGal said...

Awesome. And you've reminded me I have to check mine out, too. I've been putting it off for ages cause it just seems too boring. Now I'm inspired! :)