May 25th of this year marked a milestone: 3 years since I crashed my first car one night coming home from work, and 3 years since I signed myself into $21,000 in debt buying its replacement.
It also marked another important anniversary: the day that accident dropped from my driving record...and I could qualify for sane car insurance rates.
When I first purchased my MINI I was paying $260 a month (!) for decent coverage through State Farm Insurance. I had no credit score and no experience purchasing car insurance, so I went with the first company I called that would insure me. Six months later, I re-quoted my auto insurance through Progressive...and Progressive was fully $100 less per month for better coverage. I switched to and stayed with Progressive, and I've been happily paying their reasonable monthly rate for the past two years. So naturally, I was incredibly excited when my anniversary date arrived. How would the Big Three affect my premiums?
I was not disappointed when I contacted Progressive. My insurance premiums decreased to $98 per month. I was astounded and elated...and immediately figured the extra savings into a larger payment on my car. While splitting up with my boyfriend was a hard financial setback, I'm beginning to make some headway in my battle against debt.
Debt reduction rocks!
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