Trim the Fat Tuesday: The Insurance Review, Part 2

Here's a sequel that's actually better than the original. I re-opened our insurance policy files, and

Shopped around for the cheapest auto insurance coverage.

Back in February I cut some of our insurance coverage and raised deductibles, which saved us a decent amount of money (especially on the homeowners policy). On my redux, I went online to see what other companies could offer us for pricing.

First stop: mass.gov has a tool that shows what every insurer in the state offers for a premium under several scenarios. In the scenario that was most similar to ours, GEICO charged only half of what most places were.

Say what now?!?

After checking out a few online quotes, I am totally psyched to report that mass.gov has an accurate (if somewhat clunky) tool, and we are now paying less than half of what we were previously for our car insurance.

So we got the exact same coverage (I went line by line with our current policy to be sure), great service so far both online and from the call center, and it's so, so much cheaper. Woohoo!

And now the numbers. Our old insurance policy cost us $112 per month for our two cars. Our new GEICO policy is just $54.50 per month. 

Can I say it again? Less than half as much. 48.5 percent as much, to be more precise.

Part of that savings comes from me putting the entire year's worth of insurance on our credit card, which is cheaper than being on a payment plan. But since this is so much cheaper, that doesn't hurt much — and it boosts our airline mileage points anyway. Win-win! 

Seriously, it pays to shop around. Big time. And since the internet makes it such a breeze, there's no excuse not to.

Savings per month: $57.50