auto insurance premiums are getting
sky high every time I get a bill
from them. According to the National
Association of Insurance Commissioners
the average amount spent on auto
insurance went from $691 in 1996
to $829 in 2005. That is almost
a 20% increase. If the auto insurance
companies keep going at this rate,
in 20 years we'll be paying almost
a thousand dollars.
about this made me feel a lot
better about my arrangement with
my insurance company. I save almost
75% on my policy by simply having
an alternative plan.
policy with Progressive auto insurance
company is a simple liability
only policy. It will cover the
damage of personal property of
the other party in an accident.
It will also cover medical bills
for any injuries of the other
party. The way I set it up is,
I will get nothing in the event
of an accident. The repairs will
not be paid for by the insurance
company, I will have to pay for
it my self.
have had a few accidents in my
past and they were minor. Knowing
how to repair my own car ofcourse
helped but it is not necessary.
You simply need to have a plan.
you need to put away from $3000
to $5000 onto savings as your
own insurance. I personally think
$2000 to $3000 should be plenty.
You can also use a credit card
if you need to but it's better
to have cash available.
you will get a liability only
policy from your auto insurance
company. This policy should cost
you from 50% to 75% less than
the full coverage.
is you need to get some contacts.
To find a auto body specialist/do-it-yourself-er
you will need to visit your local
auto body supply store. It is
better if it is a locally owned
store, this way they will have
good local contacts that are not
pricey. Ask them if they know
any body men, anyone they can
recommend. Meet them and see their
work. Find out the prices. This
way you will know ahead of time
what to expect in case of an accident.
the same for a mechanic, visit
a local auto parts store and ask
around. Even people in line.
you do a little bit of research
and spend some time getting your
contacts together, you will realize
how much money you will save in
the long run.