How to Save on Car Insurance: The Power of Shopping Around

How to Save on Car Insurance: The Power of Shopping Around

Ramiro and his wife have had their driver’s licenses for over 15 years, never having had an accident or received a ticket. Both have excellent credit, are college graduates, homeowners, and drive under 8,000 miles a year. Additionally, their daughter is an outstanding college student.

Despite this, Ramiro complains that they’ve never been able to secure affordable car insurance, even with all the discounts available. He has friends in similar situations who pay nearly half of what he does. To make matters worse, after two years of paying $480 per month for two cars, his insurer sent a letter notifying him of an increase to $520.

That was the last straw for Ramiro, who decided to call his insurance company to express his frustration. “I know people who pay much less than I do, even with tickets on their record, and you just keep raising my premium without any claims on my part,” he said indignantly. The agent apologized and responded that there was nothing more she could do: “We’ve applied all possible discounts. Shop around!” she suggested. “We live in a capitalist country; there are plenty of offers out there.”

Ramiro took the advice. After hanging up, he searched online, made a list of available insurers, and began calling each one. He had a target number in mind; he needed this win. Finally, the seventh insurer gave him an offer: “Sir, your premium would be $313 a month, and if you pay six months in advance, we can reduce it even further. When would you like to start?”

On the other end of the line, Ramiro responded enthusiastically: “Yesterday!” laughing out loud.

With a little patience and “shopping around,” he managed to save nearly $2,500 on his annual premium.

The moral of this true story is that you can always aim to pay less. Don’t give up; explore the market. If you don’t have the time, seek advice from Univista Insurance, which works with multiple insurers, and tell the agent your target price. They will gladly search until they find a price that feels fair and affordable to you.

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