Our 6 month car insurance bills came in the mail...
I generally used to hate these "unexpected" expected bills... That is until we made a habit of putting a little money aside each month into a savings account strictly to cover these bills.
Since then, its never been an issue and we don't find ourselves scrambling to find the money since we just have to pull the money from savings and cut them a check.... which is a lot nicer when your living on a tight budget.
South County Boy: 1991 Ford Escort
Apparently my husband is special because he's ticket and accident free for over 6+ years so he gets what state farm calls their Superior Driver Rate Level. Hats off to SCB!!!!
Since then, its never been an issue and we don't find ourselves scrambling to find the money since we just have to pull the money from savings and cut them a check.... which is a lot nicer when your living on a tight budget.
South County Boy: 1991 Ford Escort
Apparently my husband is special because he's ticket and accident free for over 6+ years so he gets what state farm calls their Superior Driver Rate Level. Hats off to SCB!!!!
- Liability Bodily Injury $100,000/$300,000
- Property Damage $50,000
- Emergency Road Side assistance
- Uninsured Motor Vehicle Body Injury $30,000/$60,000
- Uninsured Motor Vehicle Property Damage
TOTAL: $158.19
We get a multiple line deduction ($31.84), a Multi-car deduction ($39.50), Driving safety record ($165.86), California good driver ($39.55), loyalty discount ($34.12), and a low annual mileage discount ($39.37)
South County Girl: 2004 Toyota Camry
I'm not so nifty because of the ticket I got a while back for that stupid stop sign so i'm classified as a Level 1 for Driving Safety. At least the discounts I get are higher than his... but that's because it costs more to insure my car since its newer and we keep Comprehensive and Collision on mine and not on his.
How we pay for it
Last year we paid $187 for Earthquake Insurance and $321 for Homeowners Insurance. We pay these bills once a year... but our car insurance bills are paid every 6 months. So, we take the amount we pay for our car insurance ($362.15 + $158.19) and multiply it by 2 payments a year ($1,040.68), then add in our annual insurance bills ($187 an $321) and then divide that by 12 months to see home much we need to put in savings each month. ($129.00). So we budget $129 for insurance and we pay it into savings each month like it was a bill and call it even.
How do you pay your annual and semi annual bills on a budget?
- Liability Bodily Injury $100,000/$300,000
- Property Damage $50,000
- 500 deductible Comprehensive
- 500 deductible for Collision
- Emergency Roadside Assistance
- Uninsured Motor Vehicle Body Injury $30,000/$60,000
- Uninsured Motor Vehicle Property Damage
TOTAL: $362.15
We get a multiple line deduction ($73.60), a Multi-car deduction ($68.75), Driving safety record ($211.03), California good driver ($90.53), and a loyalty discount ($78.87)
How we pay for it
Last year we paid $187 for Earthquake Insurance and $321 for Homeowners Insurance. We pay these bills once a year... but our car insurance bills are paid every 6 months. So, we take the amount we pay for our car insurance ($362.15 + $158.19) and multiply it by 2 payments a year ($1,040.68), then add in our annual insurance bills ($187 an $321) and then divide that by 12 months to see home much we need to put in savings each month. ($129.00). So we budget $129 for insurance and we pay it into savings each month like it was a bill and call it even.
How do you pay your annual and semi annual bills on a budget?
We save money every month for it and then just pay it off every 6 months. Makes it easy!
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