Changing Car Insurances – Again!

 

Sometimes I feel like it costs a lot to save a lot.

In this case I mean the high cost of insurance to negate the high cost of a potential car incident claim.  To be specific, that is a cost of $1,100 for six months.

If you read an earlier post where I was ridiculously pleased with myself for changing insurance companies to get a better rate, then this post should seem a bit odd.  For me, finding out my insurance increased by about $300 in one period, I found it very odd.  Not accidents.  No claims. Just an increase.

When I finally realized the extreme increase, I called Progressive and said “huh wha?”  The response was that the elimination of a one time $75 discount and the rest was a general rate increase.  There is nothing general about a $300 rate increase.

Thank goodness for the creation of the modern interweb and insurance comparison sites. After checking several – including Esurance, State Farm and Geico –  I signed up with Geico for about $115 per month.  That is about $70 less per month I would have paid with Progressive had I stayed and the policies are comparable.

My guess is that going forward, I will need to shop yearly for insurance.  The companies are resetting rates quicker and higher than I have experienced in the past and I am unwilling to keep paying higher just because of “general rate increases” that have nothing to do with my personal driving record.

The good news is, getting a discount on what I was paying will make room for the new added Allowance line item in the budget.

Question – at what point do you decide to forego Comprehensive coverage form your policy?  Age of car?  Kelly Blue Book value of car?  Amount in savings account to replace the car with cash? I am curious.

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