The Money Mustache Community
Learning, Sharing, and Teaching => Ask a Mustachian => Topic started by: ginjaninja on August 07, 2019, 10:48:42 AM
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I just purchased a car, where have you found the best car insurance rates?
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State insurance board website price compare list of auto insurance rates from all companies licensed in the state.
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USAA
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For me: State Farm, then esurance, then AAA. Get new quotes every year and switch if it makes sense. They tend to punish you for staying with a provider for longer. It seems backwards but it's been my experience. New customers get the best rates.
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Esurance for me. I also check every 6 months when it is time for renewal and with my old car Geico was usually cheaper given the gov't employee discount, but now esurance is always cheaper.
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I check every 6-12 months. But Progressive has always been cheapest for me.
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Currently with GEICO, previously it was Nationwide, and before that, Esurance.
it's all highly highly dependent on where you live, what you drive, what demographic you fall into, you driving history, your discounts, etc etc etc.
In general, you'll get a better rate with online-only or online-focused insurers (esurance, GEICO, etc.).
But regargless - no matter what insurer you have now or will switch to, it is to your disadvantage to remain a loyal customer.
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Also, don't assume that lower coverage = lower rates. Some companies algorithms are set up so that those who choose higher rates are considered less risky. At one point it was 10% cheaper for me to have collision/comp coverage than to not have it. Always play with the calculator!
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Also, don't assume that lower coverage = lower rates. Some companies algorithms are set up so that those who choose higher rates are considered less risky. At one point it was 10% cheaper for me to have collision/comp coverage than to not have it. Always play with the calculator!
That... is astounding. Good tip!