Everybody wants lower premiums, but some people take it a bit further than others – sometimes to the point of being just a little, well, kooky. Here are five ideas we don’t necessarily recommend, but some people are trying nonetheless.
#5) Obsess Over Gas
Thomas Cybiontt hates paying for gas. We know this not because he’s expressed a hatred of gasoline, but by his various fuel-saving and insurance reducing tips. Mr. Cybiontt will never get a speeding ticket because he never tries to overtake anybody and he probably won’t have to worry about an excessive repair bill anytime soon because he obsessively changes his oil. It may not directly save on insurance, but it’s a nice secondary benefit.
#4) Limit Driving Your Car
Hey, it undeniably works. The fewer miles you drive, the less likely you are to get into an accident. Most people simply just skip the car and take public transportation or carpool to work. However, there are more extreme methods we’ve seen including driving your car halfway to work and walking the rest of the way, starting a carpool so enormous that you only drive your car to work one day a week and never driving more than ten miles away from home.
#3) You Can Fix Anything In Your Garage, Right?
Your insurance company will really only become aware of a repair bill if you take your car to the shop. Extreme savers will avoid raising their insurance rates by attempting to fix the car themselves. This can actually make sense if it’s a relatively simple repair and you’re handy with a wrench and a grease-gun. Anybody can fix a tail-light, or (with a light practice) remove scratches in the paint.
However, there are points where you need to give up and consult the professionals, as a quick browse of the Internet will show you:
#2) Driving an Absolutely Ancient Automobile
Joel Berry, in 2008, ran the numbers on the Geo Prizm he bought (used) in 1995. Yes, we’re surprised a Geo Prizm was still on the road in the 21st century, too. Joel points out that, among other benefits of driving his car, he has cheap insurance. It’s not really a surprise, since currently the highest market value of his car is $1764. Even if his car is completely totaled, his insurance agency is out mere pocket change. Of course, it doesn’t have great fuel efficiency and Joel himself is forced to admit that his last repair was $1000. He argues it’s still cheaper than the $250 car payment he’d shell out per month for a used car.
#1) Getting Rid Of Your Car Altogether
This isn’t really a car insurance “tip” as much as it is pretty much an extreme saver tip. Believe it or not, there are people who make it work. Many who live in the suburbs will still have insurance since they maintain a license, but will rent cars or take public transportation. Of course, the trade-off here is that if you wreck a rental car, or your friend’s car, you might not be covered.
We don’t recommend trying all of these, but at least some people are happy with their savings.