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How Cheap Is Your Auto Insurance Really?

Car insurance often feels like just another annoying bill, right? But… have you ever actually compared it to the other things you spend money on every month? You might be surprised to find out that your insurance could cost the same (or even less!) than your everyday spending habits. And while skipping out on coverage or going for the bare minimum might seem like a money-saving move, the hidden costs can sneak up on you fast.

Let’s break it down!

What Else Costs the Same As Your Car Insurance?

Let’s say your monthly auto insurance is around $100-$150 (which is pretty average). At first, that might sound like a lot. However, wait to see how little it is when you compare it to other things you spend money on without even thinking about it.

  • Daily Coffee Runs: A $5 latte every weekday? That’s $100 a month just on coffee. You could basically be covering your car with insurance instead!
  • Fast Food, Delivery, & Takeout: Ordering food a couple of times a week adds up fast. Two Uber Eats orders per week could easily hit $150-$200 a month. This is worth more than a lot of people pay for car insurance!
  • Streaming & Subscriptions: Netflix, Hulu, Spotify, Apple Music, HBO… Once you add them all up, you’re probably spending $50-$100+ per month, if not more (depending on how many you subscribe to).
  • Uber & Lyft: If you’re relying on rideshare apps instead of driving your own insured car, you could be spending $200+ a month, which is a lot more than the cost of insurance..
  • Shopping & Entertainment: That one concert ticket, those Target runs, or a couple of nights out can easily add up to the same amount, if not more, as your insurance bill.
  • Beauty & Self-Care: Getting a mani/pedi done every two to three weeks? That’s $100+ a month, which is the same price as protecting your car and yourself. 

So yeah, car insurance isn’t actually THAT expensive when you compare it to the other things you’re already paying for! And unlike that iced 16oz vanilla latte, car insurance actually saves you money when you need it the most.

The Hidden Costs of Cutting Back on Car Insurance:

Here at Trusted Insurance Partners LLC, we get you. Nobody WANTS to pay for car insurance. But trying to go cheap on car insurance (or worse, cutting it out completely) could actually cost you a lot more in the long run. 

  • Higher Deductibles: If you have low coverage you can expect to pay higher out of pocket costs when something happens. A few extra dollars a month now could save you thousands in the long run.
  • Tickets & Legal Fees: Driving without insurance? Big fines, possible license suspension, and major headaches are now your best friend.
  • Rate Increases: If you get into an accident without the right coverage, your insurance rates could skyrocket when it’s time to renew.
  • Replacing Your Car: If for some reason your car gets totaled and you don’t have enough coverage, what happens? You’re on your own to replace it. Yep, you heard that right! Yikes.

The bottom line? Skipping or underinsuring your car isn’t worth it when you can get solid coverage for the same price as your weekend brunch plans or your daily coffee runs.

Why Do Insurance Rates Go Up?

So you’re checking your insurance bill and you noticed the rate went up. What happened?
Here are some common reasons: 

  • Your Driving Record: Been pulled over for a DUI, speeding ticket, or have been at fault in a car accident? Yeah… your rates are definitely going up. 
  • Where You Live: Moving to a new city or an area in a different side of town that tends to have more accidents? This could increase your premium. 
  • Your Credit Score: Some insurance companies actually factor this in
  • Your Coverage: Adding on extra services like roadside assistance or rental car coverage? This will bump up your rate, but also bump up your coverage!

If your rate has gone up… don’t panic! There are ways to bring your rate down. That’s where Trusted Insurance Partners LLC comes in. 

Want to Save on Car Insurance? We Got You “Covered”: 

Here’s the deal: car insurance does not have to be expensive, and you do not have to figure out what the best coverage or insurance plan is alone. We’re here to help you!

At Trusted Insurance Partners LLC, we are determined to help you find the best coverage for you at the best price, all while making it a stress free process for you. Whether you want to lower your monthly payment, improve your coverage, or verify your insurance, we’ve got you covered.