Take Action Tuesday: Check Your Car Insurance

Ok guys, last Tuesday of 2010, and while this one involves a little bit more work, it’s an action that will show some real results. You have the opportunity to possibly save hundreds of dollars, and all you have to do is take advantage of that opportunity.

All you have to do is check what the competitors are offering, and if it’s cheaper (at the same coverage) switch!

But my insurance policy isn’t eligible for renewal for a few months!

At any time, you can cancel your current car insurance policy and get a pro-rated amount back. So you don’t have to wait until renewal to switch. For example if your policy costs $1,000 for 6 months and it’s only been 3, you’d get $500 back. So there’s really no excuse for not checking out what is available.

Here are links to websites to some popular as well as an aggregate site (US Insurance Online) that may save you some time. Check out what your rates would be and let me know the results!

GEICO

Allstate

Progressive

State Farm

21st Century

USInsuranceOnline.com

8 Responses to Take Action Tuesday: Check Your Car Insurance

  1. MoneyCone says:

    Definitely worth doing! I did this a while back and actually switched for a better rate. Called to cancel my existing insurance and they offered me an even lower rate and had to switch back again!

    Sure it was a hassle, but the savings made it worthwhile! Thanks for the reminder Daniel!

  2. Money Smarts says:

    Last time I checked my insurance rates I ended up saving almost $1100 a year! I couldn’t believe it because I thought I had decent rates through a “family friend”. Taught me a lesson to never trust anyone!

    I just renewed my current policy – weird thing happened, apparently they have a vanishing premium or something because our rate dropped by $200 since the last renewal.. Can’t say I remember my rates ever doing that while with one company.

  3. krantcents says:

    Last year, I increased my deductible. Although the savings were minor, it adds up! 3 years ago, I switched companies and increased coverage and still saved money.

  4. Jenna says:

    What are people’s thoughts on staying on your parents insurance until you turn 25? Does it actually save you money?

  5. Great tip daniel. I check on this every 6 months (when my policy renews) and my current provider is still the cheapest! I’m glad I havent had to change yet, but I will if needed.

    • Daniel says:

      @Jeff @ Sustainable Life Blog, Who do you have? Isn’t it funny that everyone claims to be the cheapest but in reality it depends on your specific demographic and history? There is no one-size fits all!

  6. If you are eligible for USAA, use them. You’ll never find a better rate.

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