Is car insurance part of your budget? Our insurance company breaks our insurance plan into two bills a year. We break our payments into two payments each to help our budget. As a reminder a car insurance payment is part of your Present slice of the Budget Pie! Here in Virginia the state requires you to have car insurance or pay a non-insured fee. That isn’t the case everywhere and make car insurance all that more important. Having an accident and not having car insurance isn’t really in anyone’s budget, is it?
A key part of your insurance plan is your deductible. While a higher deductible will give you a lower monthly, quarterly, or semi-annual payment, can you actually pay the deductible? Our deductible is low by some standards but we know that we can pay our deductible if we are in the situation where we have to pay our deductible. We sure didn’t plan for the new van to be totaled in 2012 just month after getting it. We were able to pay the deductible and the insurance company paid the van off so we could turn around and get another new van. You don’t really plan for life events like that except through having an insurance plan that provides the coverage you need including a deductible that fits in your budget.
If you are looking for how to pick out the best car insurance, I am not the one to help you with that. You will want check out tips on how car insurance works and even talk to your insurance company to make sure you have the coverage you need. My dirty little secret with our car insurance is that I still have the policy that my dad set-up on my car when I got a car at seventeen years old. That good old Buick Century had a great plan. When we got the Honda Civic, I put the same plan on that car and the insurance agent told me that the set-up of the plan was one the best had seen. (Thanks again, dad!) The plan has a great balance of coverage and fitting in our budget.
Have you thought about your car insurance coverage and how it fits into your budget lately? Do you have any tips for budgeting for car insurance? Leave us a comment and let us know!
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