Today's Finance Tip: " High deductible is your friend. Keep those monthly premiums as low as you can." - from Google Gadgets
What does this mean?
Well for car insurance it means that if you raise your deductible, you could save a little money each month, which will end up saving you a lot of money each year.
The deductible is the amount of money you must pay if you get in an accident and have to pay to repair your car. You have to pay this first, then the insurance company will cover the rest.
If you can make sure you have enough money saved to cover your deductible (usually $250-$1000) then why not raise it up, say to $1000. So that if you do get into a car accident, you will have the money to cover the deductible. Raising your car insurance deductible is an easy way to save a little extra cash each month.
Monday, May 25, 2009
Today's Tip of the Day
Subscribe to:
Post Comments (Atom)
1 comments:
Makes total sense. Most insurances are really an expensive gamble based on statistics that favour the companies. Thanks for the interesting post!
Post a Comment