Is $155 a month for liability-only insurance on two cars excessive? I started with just one car, paying around $80 per month, but after adding another, my rate jumped to $255 this month and will settle at $155 moving forward. For context, I’m a 24-year-old male living in New Mexico, and I have a history of traffic tickets—I’m not sure how much that’s affecting my rates. I’m with Progressive, but I often hear about others who pay significantly less for liability coverage or even get full coverage for the same amount I’m paying. While I’d prefer full coverage, the cost would be quite high. If I’m going for liability only, I want it to be as affordable as possible. Is it just my age and driving record that keep my rates high, or can I find a better deal? I see those commercials advertising low rates, but they seem too good to be true, so I haven’t bothered checking them out. I haven’t compared quotes in a while—should I do that now? Or does anyone have recommendations on where to find significantly cheaper insurance?
Is 155 a month liability only insurance on 2 cars too much?
It sounds like you’re in a tough spot with your car insurance rates, and it’s understandable to feel frustrated. Insurance premiums can vary widely based on many factors, including your age, driving history, and location. Having traffic tickets can definitely contribute to higher rates, especially for younger drivers.
Here are a few suggestions to consider:
Shop Around: It’s definitely worth shopping around. Different insurance companies have different underwriting criteria, which means you might find a better rate with another provider. Don’t hesitate to get quotes from multiple companies to compare rates.
Consider Discounts: Look into potential discounts you might qualify for. Many insurers offer discounts for things like bundling insurance policies, having a good academic record, or completing a defensive driving course.
Increase Deductibles: If you decide to go with full coverage in the future, consider increasing your deductibles. This could lower your monthly premium.
Check Coverage Options: While liability is the most basic level of coverage, some companies offer customizable policies where you can find a middle ground between liability and full coverage that fits your budget.
Review Your Policy Details: Sometimes, insurance policies can include unnecessary coverage or add-ons. Go through your policy carefully to see if there are any areas where you can cut costs.
Usage-based Insurance: Some companies offer usage-based insurance, where your premium is based on how you drive. If you’re a safe driver now, this could lead to lower premiums.
Be Patient: Rates can change over time, especially as you get older and your driving record improves. It’s a bit frustrating, but as time goes on and you have fewer tickets, you may see your rates decrease.
In summary, yes, it’s worth your time to shop around for insurance. You might be pleasantly surprised to find a better rate that suits your needs!