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Auto insurance and when to plan buying it

Some people have no shame. They are the first in line when it comes to the January sales. All those bargains. And what are they doing? They are buying presents for the next season of giving. They see this as basic financial common sense. They foresee a commitment and plan on how to get the best result for the smallest possible amount of money – assuming, of course that you don’t count the storage costs of all this stuff around the house. When sites like this offer the advice, “always shop around”, they might not expect you to be as extreme, but they do expect you to invest a little time and effort in finding the best deal.


Except there are always some who don’t need to be quite so active. Let’s say you are the proud owner of an old jalopy (isn’t that a wonderful word – so much kinder than junker or clunker). Perhaps you don’t drive much and have a clean driving record. Well, if so, you don’t need to worry. You will be paying the lowest premium based on where you live, your age and experience. Indeed, unless you have some money squirreled away, you will probably make do with liability coverage and beefed up coverage for your own medical expenses.

But for the rest of the world, insurance rates for vehicles have been rising steadily. Let no one try to tell you prices level off or even fall during a recession. The insurance industry finds it has us over a barrel and decides to stuff us into the barrel like fish and start shooting. This should encourage you to start shopping early for your insurance. When it costs you nothing to search your state’s insurers for quotes, you can routinely monitor trends and identify different ways in which you might save money. If you have left it to the last minute before starting your survey, the cheapest premium will win. With time on your side, you can look at the difference in the rates between different makes and models. It might be cost-effective to change what you drive. You may also be missing discounts. Always check the quotes have included all the savings you are entitled to. Then remember that different insurance companies have different weightings for their risk assessment. What loads up the premium for some companies, reduces it for others. Finally, you now have the time to look through the policies before you sign up. Yes, this can be really tiring, but you can see what your money is buying. Instead of just picking the cheapest premium rate, now you can find the most affordable coverage.

More importantly, you can get the full value from these free auto insurance quotes. Indeed, you can find you get too much information. So aim to strike the right balance. You need to do some research, but not for its own sake. Just because the use of the internet is free and gives you endless information, does not mean you should spend days on this. Auto insurance is important. Saving money is even more important. But keep it all in proportion.


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