Before I continue with this article, let me say this: Most car insurance agents are good guys. They want to help you get the coverage you need at a price you can afford to keep your car safe and secure when you’re on the road. However, they too want to make a sale and want to keep their company profits in the black so they can keep their jobs! You can’t blame them for that. However, you need to know so you can recognize what they’re not telling you when it comes to saving money on your insurance.
 
First of all, it is important to recognize that not all auto insurance companies are created equal. Everyone has their own policies when it comes to discounts and saving money on their coverage, which means something that might save you 20% or more with one company might not even make a scratch on your premiums with another. However, no self-respecting auto insurance agent will admit that you could get a better deal elsewhere, so it pays to shop around before deciding to sign on the dotted line.

Next, you need to recognize that while minimum liability auto insurance is almost never enough to keep your financial assets safe after you’ve been in an accident (most experts recommend that you have a minimum of $100,000 and $300,000 in liability). for bodily injury and $100,000 in property damage). damage, just in case), it is also not always necessary to ride with full coverage. Unless you have a lien on your car (in which case your lender is going to be a little nervous to make sure your investment is covered) you’re not required to carry either collision or comprehensive.

If your car is worth less than $2,000, you may find it easier to put away a little each month in a savings account for a new car down payment than to pay for full coverage every month knowing you only have a fraction to get back. of what you paid for the car in the first place if your auto insurance company writes you a check.
 
Sometimes it’s easier to pay for repairs to your car (and any other vehicles involved in the accident) yourself than to get your insurance company involved. You can expect your car insurance rates to go up as much as 40% after you’ve been in an accident, and that’s probably the 40% you really don’t want to pay. If the cost of repairs is within your means, you might be better off “forgetting” that you have auto insurance.
 
In your head, that is. Lying to other drivers almost never ends well.
 
Congratulations! Now you’re ready to shop around and find the coverage you deserve at an affordable price.