How to Get Car Insurance on a Budget

Car insurance is not something you want to be caught without. If you get pulled over without insurance on your car, you face big fines. Having insurance also helps if you get into an accident. If your car is damaged, you will pay far less than full price at a collision repair center. Car insurance can be expensive, but you can purchase it on a budget and save money every month.

Difficulty: Moderately Easy

Instructions

1. Go with a high deductible if you won't mind paying more if your vehicle is damaged. Having a higher deductible on your policy can significantly lower your monthly payments.

2. Have a good credit rating. Many insurance companies will check your credit rating when figuring your monthly payments. If you have good credit, you are likely to have a lower payment than if you have poor credit.

3. Check with an insurance company about the lowest required amount of insurance coverage in your state. Many states will allow you to have liability coverage only, which is far cheaper than full coverage insurance. Keep in mind, however, that liability insurance will not pay for repairs to your own car if you cause an accident.

4. Contact the insurance company that provides your home insurance. Many times, you will get a discount for using the same insurance company for all of your needs.

5. Shop around for many different companies. Get a quote from each company to compare monthly payments and coverage before you buy a policy. Almost every insurance company will offer a different monthly rate.

6. Search the Internet for insurance companies. These companies often offer more competitive rates.

Tips & Warnings

• Don't forget to ask about the down-payment amount. Sometimes a company will offer low monthly payments only to ask for a large down payment.

Resources

• Get free auto insurance quotes at AutoInsure.