How to Find Budget Car Insurance
Car insurance is a requirement in all 50 states, so you cannot simply save money by forgoing it. That doesn't mean you have to spend a fortune, though. Through diligent research, you can find budget car insurance. Before you talk to insurers, understand your insurance needs, as even a low-cost car insurance company can try to upsell you additional insurance.
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Instructions
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Check your state's laws regarding car insurance. While each state has laws regarding auto insurance, the exact details vary from state to state. It's important to understand the required levels of bodily injury insurance and property liability insurance. States often list this like 20/40/15, which means that each person injured in an accident could receive up to $20,000 in benefits, with a $40,000 maximum for the entire accident and $15,000 for property damage.
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Compare the cost of different car insurance companies. Knowing how much insurance you need to purchase, you can contact all of the major discount auto insurance companies for price quotes. Be sure that you understand everything included in the insurance quote for the most accurate comparison.
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Ask the insurance company if you qualify for a discount. Insurance companies offer discounts for certain individuals, including military, students and good drivers.
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Take the highest deductible available. The deductible is the amount that you have to pay for damages before the insurance coverage starts. A high deductible will mean that you'll have to pay more in the case of an accident, but you'll pay less in average costs.
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Choose the most basic car insurance plan available. Don't allow the insurance agent to talk you into any of the upgrades. For the cheapest car insurance, you want the simplest plan that your state allows.
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Tips & Warnings
When you finance or lease a car, the bank often requires you to purchase a higher level of insurance than you might choose on your own to protect its asset. For the lowest level of insurance possible, you must own your car. Stick with older, used automobiles and pay cash when making the purchase.
