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A few days ago, I spoke to an older insurance salesperson who said this is the cheapest auto insurance policy she has ever seen. And as a bonus I’ll show you ways to get yours even lower than $18.
I spent hours and hours researching to find the best deal so you don’t have to. Here’s how to get your price this low (no negotiating required)…
The ‘1 pay plan’ means I paid 6 months upfront instead of paying each month.
Provider:
Price per Month: $18.07
Price per 6 Months: $108.41
Owner of Policy: .
Age, Gender: 23, male when I got the policy. I’m 24 now. Still male.
Type of Insurance: State minimum liability. This means, if I crash into someone, GEICO takes care of all the damage except for what happens to my own car. The state minimum is the minimum amount of insurance coverage mandated.. Nebraska is around $150,000 for vehicle, medical, property damage. So yes, if I make a heck of a mess by crashing into a few Ferrari’s, I’ll have to pay the rest myself. Worth the “risk”. I’ll just keep clear of fancy neighborhoods haha. If you want more coverage than the minimum, GEICO quoted me 70 cents extra for another $75k in coverage.
Car: . Clean title. Color doesn’t matter. GEICO said if I had the faster (AWD Turbocharged) version of my car, the policy would still cost the same.
Discounts: $65.91
The ‘Sponsored Marketing’ portion is because I belong to an honor society I joined in college. There are TONS of organizations which GEICO gives a discount. The ‘Financial Responsibility’ portion is about an auto insurance credibility score. If you pay on time, you get this discount. ‘Years Experienced’ means that this isn’t my first time getting car insurance.
Negotiation: I called GEICO on multiple occasions and spoke with quite a few people. They will not negotiate with terrorists with anyone.
Cons on My record: My car insurance lapsed for over a year. It’s like losing your credit score and having to rebuild. My price would be cheaper if I had never done that. It was a double-whammy because the reason I let it lapse for a year was because I went without a car. I was without a car because someone totaled it. Although the accident was 100% the other drivers fault, it can still reflect negatively on your insurance quote. GEICO said it didn’t affect my price but I can’t be 100% sure that’s true. I’m also a young male and insurance companies love to stereotype.
Pros on My Record: I’ve never had any traffic violations.
Get your price below $18 by being a student, staying on your parents’ policy, driving an older car, not lapsing on a previous insurance policy, and don’t have any traffic violations.
I called A LOT of insurance companies and people in the business to pick their brains for this article. My biggest takeaway was: don’t go with an insurance agent. Most of them are… less than stellar… (according to my sample pool) and you ALWAYS pay more when you go with one. How else do you think the insurance company pays them? YOU pay them. I would always ask them, “So why do I need an agent?” The answers they gave affirmed what I already knew.
I also found ALL cheap auto insurance comparison sites to be garbage. Yes, they will give you a rough idea of what each company charges but you never know the real amount until you call each company directly. I would call from my laptop using Google Voice. It’s really slick for handling business calls since it’s hands-free, free of charge, and the phone displays right on my screen.
Also, I rarely drive my car. With that in mind, I looked into plans that would reward me for limited miles. Still, no one competed with GEICO. Not even Progressive’s Snapshot Discount program (did come close though).
Oh, and GEICO’s customer service is top notch!!! If it wasn’t, I would have gone with a different company. Car accidents tend to be less stressful when you’ve got a good group of people on your side.
I know this post isn’t as conversational as . But I wanted to create a quick reference guide for anyone trying to save on car insurance. As I said earlier, I spent hours searching online and hopefully this saves a lot of people the trouble. I wanted to find the cheapest auto insurance policy because a little upfront research saves tons of money over the long haul.
So there you have it. The cheapest auto insurance policy the old lady has ever seen. How much do you pay?
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P.S. I also only pay $10/month for my cell phone.
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