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Locating Budget Car Insurance

With unemployment still stuck at over 10 percent and underemployment at about 20 percent, many families are struggling to stay afloat. While trying to trim their budget in every way possible, car insurance can seem to be a luxury. Seeking budget car insurance is one way to make things work.

If you are a driver who has never been in a car accident, the premiums you pay may feel unreasonable. You drive carefully, so why should you pay so much for insurance? Although you may be tempted to forgo insurance, this is illegal in virtually all jurisdictions and not a great or a safe way to protect yourself or your family.

There are, however, ways to save money. You can select to pay over 12 months instead of the once-a-year full amount. There may be a charge to select this option, however, if you are on a budget, it is worthwhile to consider.

Online quote shopping is a bastion for those seeking lower car premiums. Seek out at least three quotes to get a good idea of what you might be able to pay. Most importantly, however, make sure you read the fine print. Nothing like finding out after a catastrophe that you are no covered.

Many companies are considering offering PPM insurance. Pay Per Mile insurance uses actual data from GPS (Global Positioning System) to determine what you pay. The data will determine how and where you drive and you will pay based on that as opposed to just a blanket policy. The advantages of PPM are that it is much cheaper for those who rarely travel. Since you are only paying for what you use, it is a fairer system. Also, it might decrease congestion as people will contemplate before hopping into their care. It will also encourage public transit. Non-PPM policies mean that you are paying for insurance whether you are driving or not. PPM policies mean that you can take the savings from not driving and apply them to using alternatives such as transit or carpooling.

The disadvantages of PPM can include the cost of the installation of the transmitter as well as the fact that those who drive for a living might find themselves priced right out of insurance. Also, some do not like the idea of Big Brother watching their every move and would prefer to keep their privacy instead of receiving discounted car insurance.

Auto Insurance Companies are looking for ways to offer budget car insurance. Whether offering PPM or online quotes, they are trying to find ways to save consumers money. With a little effort and savvy, you might be able to reduce your car insurance costs.


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