$700 a Month for Liability Insurance
I’m currently paying $700 a month for liability insurance on my 17′ Volkswagen Golf, just meeting New York state’s minimum requirements. I’m really looking for solutions to lower this cost. I know it’s my responsibility due to points and accidents from over two years ago, so I’m not disputing that. Does anyone have suggestions on how I can improve my situation? Any advice would be appreciated!
It sounds like you’re in a tough spot with your insurance costs. Here are some suggestions to help you potentially lower your monthly premium:
Shop Around: Different insurance companies offer varying rates. Get quotes from multiple providers to see if you can find a better deal.
Increase Your Deductible: If you’re comfortable with a higher out-of-pocket cost in the event of a claim, increasing your deductible can lower your monthly premium.
Take a Defensive Driving Course: Some insurance companies offer discounts for completing these courses. Check if this is an option in your state.
Bundle Insurance Policies: If you have other types of insurance (home, renters, etc.), consider bundling them with the same provider for a discount.
Maintain a Good Credit Score: If your credit score has improved, inform your insurer as this can sometimes lower your premium.
Consider Usage-Based Insurance: If you’re not driving often, usage-based insurance programs can offer lower rates based on actual driving habits.
Look for Discounts: Many insurance providers offer discounts for various reasons, like being a student, having a good driving record, or being a member of certain organizations.
Reassess Your Coverage: Make sure you’re not paying for unnecessary coverage. If you have the minimum liability and are still paying $700, it might be worth discussing your specific needs with an agent.
Consult with an Insurance Agent: An agent can often help you understand your options better and find ways to cut costs.
Consider Alternative Options: If insurance costs remain high, you might explore using public transportation or car-sharing services as an alternative for a while.
Make sure to take your time to evaluate these options. It might take some effort upfront, but finding the right plan could lead to significant savings in the long run!