Have you been paying attention to how much insurance is costing you these days?

While it is a necessity, it’s possible that you are overpaying and could benefit from learning how to save money on insurance, from car to home, and more.

I know people overpay because at one point I was overpaying. When I was 16, I had just gotten a new-to-me car. It was cheap, had high miles, and had more paint chips than actual paint.

Even though everything else about the car was overused and cheap, the insurance was over $100 a month!

My Dad helped me find a policy, and neither one of us paid much attention to the cost, which was surprising considering how frugal he was. Yes, I was a teenager and a new driver. However, neither my Dad or I did our homework and shopped around to save money on insurance, as we just used my dad’s insurance company.

Also, I had all kinds of coverage on this cheap, ugly car. I had a very low deductible (like $250 or something), and collision insurance (which usually isn’t needed for a super cheap car). Once I realized all of the mistakes I was making, I made changes and my insurance dropped by over HALF. I went from paying over $100 a month in car insurance to somewhere around $50 a month. [Read more…]