How to Save on your SR22 Car Insurance?
Q: I’m really emptying my pockets for car expenses. I have a new car, so I have a $500 a month car payment, and then my SR22 payment is another few hundred dollars a month. How can I save money here?
A: Since you have a new car, saving money may still keep you with a high SR22 premium, but it ill be better than your current one. Change a few things up and make sure you’re getting credit for what you have so you can save everything possible.
First of all, do you have a safety discount? If you have features such as anti lock brakes, seatbelts, and air bags on your car, then you should be getting discounted for these things. Same goes for if you have an anti theft device of some sort–a particular type is usually required.
Beyond that, you can save a least a hundred dollars a month, if no more, by assuming more risk. You do this by raising your deductible on your additional SR22 coverages, such as your collision and comprehensive. I’m going to set a bottom line at around $500, but I suggest you raise it as high as you can go and make sure you start setting money aside so you’ll be able to pay it when the time comes.
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