Have you seen the ads online for auto insurance for $39 a month?
That's only $468 annually -- what a bargain! But who are the
lucky drivers actually getting this kind of rate?
We decided to do some investigating. We looked at more than
car insurance quotes
given to our users to see what combination of factors would result
in a quote of $39 a month or less.
Not all our findings will surprise you - buying
minimum liability coverage
(like 25/50) helps keep your rate low. And you'll probably have to
skip collision and comprehensive coverage in order to score a bill
of $39 a month. But other factors play an important role in getting
you a rock-bottom rate.
Based on our analysis of quotes, here's how to get auto
insurance for $39 a month or less:
- Don't ask for an SR-22. This is a form required by many
states when you've got a bad driving record and will be required
to prove financial responsibility. It's a big black mark.
- Own your vehicle. Maybe you're a superior driver but if
you've got a car loan, that factor could be keeping you from
- Insure only one vehicle. This makes sense - the more vehicles
you put out on the road, the more possible claims. Our analysis
found that in 91.1 percent of the cases where drivers received
quotes for $39 a month or less, they had no SR-22, owned their
cars and insured only one vehicle.
- Don't have any lapse in auto insurance coverage. This will
make you an undesirable customer. It shows you're bad at paying
bills, or that you were possibly driving around uninsured.
- Have no claims. No claims = desirable customer!
- Don't have driving violations on your record, either.
- Don't have a license suspension or revocation on your
- Have a credit score of 650 or higher. In most states auto
insurers are allowed to use your credit score in pricing your
policy. Our data show that many of the drivers offered the best
rates have scores of at least 650.
Are you thinking you're a match to the qualities above? Remember
it all means nothing unless you hook up with an insurer that's
pricing competitively for your particular combination of qualities.
Quotes given to even the best drivers can range by hundreds of
dollars. But if you know you have the above advantages, you know
you deserve a great price.
And if you're not seeing yourself in this picture . . . well,
here are other ways to
save money on car insurance