As a follow up to a recent post on online savings accounts, I wanted to write another post on personal finance. For this post i wanted to write a bit about car insurance.
One of the most important things to know is that in many states you are REQUIRED to have auto insurance. In New York where I live, if you are pulled over by a cop and do not have car insurance you WILL BE ARRESTED. Whether you agree with the law or not, it is important to be aware of it.
Instead of being ego-centric and talk about New York, I wanted to focus on insurance rules in the largest US state, California. I hope readers outside the state can still gain some useful advice from this article. Liability auto insurance in California like most other states, is required. This is not the main topic of the article, but to check out the exact parameters of the law check out California department of insurance’s website.
Therefore, let us discuss some ways to minimize your auto insurance bill. Thankfully, due to technology this is a much easier task than it was in the past. Before the advent of the internet, you were forced to go through insurance dealers, or shop yourself for auto insurance. Agents had their own pockets in mind, and not your best interests. Shopping for insurance yourself was a difficult, and time consuming process.
With the advent of the internet, the cheapest insurance rates are only a click of a button away. You can visit sites that will give you comparissions of the best rates of auto insurance in the state of California.
I also found an interesting, and very short video which discuss the simple process of finding the lowest rates in California. The video (less than a minute long) and explains the simple process. The video from onlineautoinsurance.com explains how the site scans several large auto insurance sites to search for the lowest rates.
Remember, if you can save $100 a month on your auto insurance that is $1200 dollars a year. If you invest that money every year that you saved you can retire with several hundred thousand dollars more.
Below is the video:
The direct link to the video is here. CA car ins video