As part of our move to take care of our debts, Josh and I are trying to find ways to cut back on our expenses. One suggestion my mother made to me was trying to shop around for my car insurance and compare insurance rates. I called a few places, and went online to view my auto insurance policy and see what coverage I had. Then I went online and checked out rates at Nationwide, Allstate, State Farm and all the other insurance companies that I could think of. I printed the rate quotes from each insurance company and then I did an overview of all the insurance plans to see what was the minimum insurance I would need to cover me no matter what happened. Well, what I found was amazing. There were so many different rates for the same insurance it was crazy. I reviewed the information I had received with my parents, and we found an insurance company that was a good name company and that would charge me about half of the premium I was currently paying. My mother said that if I was really interested in saving some money on insurance, then getting Josh’s credit rating on the right track was a good start. She informed me that insurance companies will look at your credit score when they are assessing you for insurance, and with a low credit score you can pay a lot more for insurance. She also suggested helping Josh shop around for a cheaper rate on car insurance as well. She said that his rates are probably higher, not only because of credit but also because he is a male and males tend to pay more for insurance when they are younger.

When Josh came over that evening I had him bring his insurance policy info over with him and we reviewed it together. Then we went online and tried to find the best insurance company for him. Ironically the insurance company that I switched to was more expensive for Josh than his current policy, but we did find a company where he would pay about $400 less every 6 months and that was about the best we could do because of the other factors involved his insurance stayed higher than mine, but in the long run we put about $800 a year back in his pocket, so it was still worth the effort.