This video shows Common Cents Mike discussing saving money on auto insurance. In addition, he discusses the questions to ask when you are looking for ways to save money with auto insurance.
Question one is, do I have to wait to do this? Can you do switch to a new insurance policy now, or do you have to wait for your current insurance policy to expire? No, you do not have to wait.
You can switch your policy as soon as you sign the policy if you want.
Question two is should I stay with my auto insurance provider longer to receive better discounts? This is not true. Insurance companies actually look at long-term policies and think the insured are going to stay for a long time and they don’t need to offer anything else. There are some insurance companies that will reward long-term policyholders, but not all of them.
Next is the question about full coverage versus liability. Again, the basic concept is that if you have a car loan, you are going to need full insurance coverage.