11 ways to save on car insurance

11 ways to save on car insurance

The US Postal Service raised the price of stamps from 42 cents to 44 cents, the State of New Jersey jacked up the tolls on the Garden State Parkway and New Jersey Turnpike. It seems the State of New Jersey approved rate increases of 4% on my auto insurance. The fourth recent tax killer was the federal tax increase on cigarettes that began on April 1, 2009 of about 62 cents per pack making the federal tax a total of $1.0066 per pack. The total tax on a carton of 10 packs of cigarettes in New Jersey is $38.50. The Governor of New Jersey is talking about another 12.5 cents per pack increase. It is also estimated that my real estate taxes will go up about $500 this year. Gasoline has already increased more than 35 cents per gallon during the past 6 weeks and is heading higher.

I sharpened my pencil and found that insurance premiums are my biggest expense in my budget which is even higher than what I pay to run my car and heat my house together. I was surprised. I have been with the same insurance company for more than 30 years. And every year the rates have been going up.

The link article is very good and will put you on the path to save money on your auto insurance. The major points are explained in more detail in the article. The 11 ways to save on auto insurance in summary are:

1. Comparison shop
2. Ask for higher deductibles
3. Drop collision and/or comprehensive coverage on old cars
4. Buy a "low-profile" car
5. Take advantage of low-mileage discounts
6. Consider insurance cost when making a move
7. Ask about car-safety discounts
8. Ask about other discounts
9. Buy your home and auto policies from the same insurer
10. Find out about group discounts
11. Maintain good credit