How I Got Off My Parents’ Car Insurance

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Car Insurance
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How I Got Off My Parents Car Insurance
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I am a lucky girl. Throughout high school and
college, my parents kept me on their car
insurance policy. I was an expensive item to add!
I kept the cost as low as possible by earning the
good student discount, driving a 14-year-old
Subaru, never having a speeding ticket and being
born a girl. However, when my fiancé James and I
were preparing to get married, one of the
financial conversations we had was about the car
insurance policy. My parents gave me the title to
the car (they owned it) and it became my
responsibility, my car and my turn to get
insurance. I set out to find a policy, and did
all of my research online. I soon found out,
however, that some of my pre-conceptions turned
out to be misconceptions. Heres what I learned
along the way.
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Where to Start? I looked online and compared
premiums from three difference companies, which I
will refer to as Insurance Co. A, which my
parents have, as well as Insurance Co. B and
Insurance Co. C. My preference was to stick with
the familiar my parents insurance company
but it turns out it was far beyond my budget.
It was like the story of the Three Little Bears.
Insurance Co. A cost too much. My parents have
the advantage of bundling their policies
(homeowners, etc.) and saving that way, in which
case I recommend it. However, Im not at that
place in life where I need anything other than
car insurance.
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Which Option Is the Best Fit for Me? The rates
offered by Insurance Co. B were affordable but I
needed to investigate exactly what I was paying
for or missing out on. plugged in my price to
see what coverage options were available.
Insurance Co. Bs most highly recommended
package cost less than Insurance Co. As basic
option. I didnt feel comfortable enlisting in
the most basic option because I dont yet have a
fully stocked emergency fund in case of a serious
accident. So I compared the mid-range option at
Insurance Co. B with what I could get from
Insurance Co. C.
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Can I Get Additional Discounts? It never hurts
to ask for a discount. You might be surprised at
what youre offered. All things considered, I
chose the Insurance Co. C similar (mid-range)
policy, but was able to bring my cost down to
79.96 each month.
After going into the office, my agent asked me
about my qualifications for other discounts,
which brought it down even further. For
example, I have a diploma, which still qualifies
me for a good student discount. Its not paying
off my debt, but hey, Ill take a discount when I
can get one.
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