As expected, my car insurance went up with my new policy.
I had an accident in August that was completely my fault. The insurance company paid out over $6,500. I didn’t expect to walk away from that without it increasing.
What I was surprised to find out was that my insurance also went up due to a poor credit report. Apparently my inability to pay my credit card bills due to unemployment and low income makes me a higher liability with my car. (I guess if I can’t pay my bills then I’m going to be a bad driver?)
While, in my case, that is completely untrue, I guess statistically it isn’t the case for everyone. It’s unfortunate that my insurance has to increase due to my financial troubles but I understand. Just one more way my finances will improve as I’m able to pay off my debt.
I plan to look around for a less expensive plan. I’ve been seeking out tips on how to save on car insurance and found a couple of great tips. Follow this link to read more about those tips from the Get Out of Debt Guy.
Maybe I’ll have the best rate for my situation, maybe not but I can’t save any money if I don’t look out for better quotes.
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