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The Importance of Understanding Auto Insurance (And How It Could Save You Money)

understanding auto insurance

Having auto insurance is one of those essentials you need if you drive…legally, that is. Not just that, but having auto insurance does protect you and your vehicle should anything happen, whether it be a head-on collision or a hit-and-run. You need to see your car as an investment because it is. Thus, understanding auto insurance will be wise so that you know you are getting the best deal (and not just emptying your bank account). Here’s how you can save money while still ensuring you’re protected:

Understanding Auto Insurance

Compare Before You Buy

Similar to the concept of “try before you buy,” you want to always compare quotes side-by-side. In fact, you do not even need to wait until you are buying to do a comparison. Many companies would be more than happy to go over cost-savings with you based on your current insurance provider. But, if you don’t want to deal with a salesperson, you can easily do the car insurance comparison online.

For most providers, they will offer to email you an initial quote first based on the information you filled out. Once you do this for multiple companies, you can see the best route to take. Some sites, like Progressive, will even do a comparison side-by-side for you, which is a smart sales tactic for them. For a faster look at different quotes from various companies, though, NerdWallet offers a free online tool for you to do just that. Check it out here.

Don’t Go Without It

Every state makes it a requirement for drivers to carry auto insurance. Even motorcycle drivers need to have insurance. If you get caught without it, the costs could be much higher than your monthly premium. If you were to get into an accident, the state may go after your personal assets, you may have higher insurance costs, a suspension of your license, and so on. You can learn more about these penalties at DMV.org.

Be Cautious About Loaning Your Car

Insurance policies go after the vehicle and not the driver. This means that in an accident, they pursue the vehicle at-fault for costs, and whoever owns the car and is the policyholder is responsible for those costs. So, even if you were not the one driving your car, your insurance has to cover it, which will lead to higher insurance rates for you to pay.

More Miles, More Money

The more you drive on a regular basis, the more money you’ll have to pay for an insurance policy. They base this on the increased likelihood of an accident to take place with the amount of times your car is on the road. In order to avoid this increase, try to periodically utilize public transportation instead whenever possible.

Look for Policies With Accident Forgiveness

When you’re in an accident, your premium will typically increase, especially after multiple accidents in a row. That is, of course, unless you have accident forgiveness in your plan.

Put Multiple Cars On One Policy

Many auto insurance carriers have “bundle plans” that allow you to insure more than one car under one policy. This can help you save money rather than going through multiple companies.

Ask About Military Discounts

As a thank-you for serving our country, many companies will give a military discount for those currently enlisted or veterans. Be sure to ask and see they have any options for you.

Overall, understanding auto insurance helps you to save money (or avoid wasting it) by knowing what to look for or mistakes you can prevent. Hopefully, with this knowledge, you’ll be able to find the best coverage and plan for you.

What would you add to the list? 

How To Save Money On Your Car Purchase

Investing in a car is a huge purchase. It takes a lot of time and money to find the car that is right for you. I am here to help you get the car of your dreams and save money on your purchase. These are some simple and easy steps you can take to save big on your next car purchase.

My first tip for buying a car is to take your time. A vehicle is a huge purchase that costs a lot of money, and should not be rushed. If you are looking to buy a car, take your time to go through all the necessary steps. Taking your time will educate you, which will save you money and find you the perfect car. There are so many different cars on the market today, so it is important to take your time to find the one that is right for you. Rushing through your purchase will result in missed opportunities and overspending. I state this tip first because it is something you should remind yourself throughout the car buying process. It is key to remember in every step along the way. Taking your time will leave you happy with a product that is right for you.

It is also extremely important to do your research. This tip goes along with taking your time because the more research you do, the more time it will take and the happier you will be. Doing your research will benefit you in a number of ways. The first benefit is doing research will find the right product for you. There are thousands of different cars available today and without doing research it is nearly impossible to know which car is right for you. On top of this, there are different editions, features, makes and models of cars therefore without doing research you are either overpaying for things you don’t need or missing out on features that are important to you. I have found that Cars.com is a great place to perform your research. They have a huge selection of cars and a ton of information. They also offer really great reviews and tools that will help you understand more about the vehicles you are interested in. Performing research is a great way to discover products you are interested in and learn more about them. Additionally, doing your research will help you understand how much you should be paying for different cars. When it comes to buying time, you can use your education as a grounds of negotiating for a better price. Researching before you buy will help you find the right car and save money on your final purchase.

When looking for a car, I have found it useful to begin with a desired price point. Having an idea in mind of how much you want to spend can be beneficial in a few ways. First, it will help narrow down the huge selection of cars available. There are so many cars out there and a price point is great way to lower the selection right away. Most importantly, having a price point will help you not overspend on your purchase. When you look at vehicles, having a price point will restrict your spending. When I use this strategy, I often end up spending even less than the price I set for myself. Instead of a general price I want to spend, it transformed into more of a limit. Setting a price point is very beneficial to guide your purchase and restrict your spending.

The last tip I have to save money while car shopping is to not limit your options. Just because a website or dealership has the car you want at a good price doesn’t mean you should stop looking. There are so many different resources and cars available, it is important to look at all your options before you purchase a car. Even if you think you have found the best of the best, it is important to take double check. Taking this final step will help you ensure you are getting the best price possible on your purchase.

Buying a car is a huge purchase but these are a few easy steps you can take to save on your car purchase. As stated before, it is extremely important to take your time and do your research when buying a car. Doing this will get you the best product at the best price without a doubt. Reference these tips for simple ways to save next time you are car shopping.

Is LASIK Worth It?

is lasik worth it

LASIK surgery took the world by storm in the early 2,000’s, giving hope to those with poor eyesight. As someone who wears contacts and glasses for nearsightedness, this procedure is something that has intrigued me as well. However, when you think of LASIK you also associate it with a hefty bill, one that may seem a bit overwhelming if it is not covered by your insurance plan. (P.S. Most do not cover unless they deem it medically necessary.) So, is LASIK worth it? Does it actually improve your sight long enough or well enough to justify the out-of-pocket cost?

LASIK Surgery: A Little History

According to Lasik.com, LASIK actually has quite the expansive history. The 1970’s introduced the invention of the excimer laser, which intrigued Columbia University researcher Stephen L. Troker, who used it to test laser eye surgery on test subjects, such as animal and human cadavers.

The first laser vision correction procedure was completed in 1988 on a 60-year-old woman with malignant melanoma, Lasik.com states. By 1991, Canada approved the excimer laser for photorefractive keratectomy (PRK) and the Federal Food and Drug Administration (FDA) in the United States jumped on board in 1995. Around the same time, two European eye doctors enhanced the procedure into what is now known as LASIK, which was allowed in the U.S. in 1999. Over the years, it has continued to evolve and improve but has always been associated with a heftier price.

The Cost of LASIK Back Then (And the Cost of LASIK Today)

When LASIK gained popularity (and FDA approval) in the late 1990s, the average cost was $2,200 per eye, Alex Tabarrok writes in a 2004 article on economics site Marginal Revolution. At the time the article was written, LASIK cost an average of $1,350 per eye, without putting into consideration inflation. Over the years, though, this number has fluctuated. In fact, according to a 2015 survey of refractive surgeons reported by Liz Segre of AllAboutVision.com, the average cost in the United States for laser eye corrective surgery was $2,077 per eye just a couple years ago, bringing us practically right back to where we started from.

However, cost does depend on location and facility. Additionally, the price may vary depending on the type of surgery, the technology used, and so on. You can opt for more sophisticated procedures, such as wavefront-guided LASIK, which corrects eyesight to result in the best vision possible, and would ultimately increase the end rate. But, overall, Lasik.com states LASIK costs can range from $1,000 to over $4,000 per eye.

Although you will often see ads for LASIK for just a couple hundred dollars per eye, you need to be wary of such deals. These often do not include follow-up appointments that are necessary for care, and so on, LASIK provider Qualsight advises.

So, with an average rate $4,000 or more for the surgery, is LASIK worth it?

Is LASIK Worth It?

Eye care can add up, especially depending on whether or not you need special lenses for astigmatism and the like. Not including your eye doctor visits, which may or may not be covered by your insurance plan depending on your policy, AllAboutVision.com estimates you may pay up to $400 a year or more for contact lenses and solution alone. Eyeglass frames plus the lenses can be an extra $200 or more, although those would be replaced much less than your yearly contacts, that is if your prescription does not change.

Even though LASIK is often not covered by insurance plans due to being considered a cosmetic surgery, Qualsight.com, who try to reduce the cost of LASIK to their patients, claims that many find the initial higher costs of the procedure to be worth it because, over time, they are saving thousands on continuously paying for their eyeglasses and contacts. Not to mention, many facilities will offer a payment plan to help alleviate the financial stress of paying out of pocket all at once. These payment plans, with no down payment of Health Savings Account assistance, can be as low as close to $90 per month for 48 months, according to Lasik.com’s LASIK calculator. Of course, you can pay more and pay the bill off sooner within 12 months.

AllAboutVision.com states that, in most cases, LASIK eye surgery is permanent. So, considering this, paying a little over roughly $1,000 a year for four years to have your eyesight corrected versus continuously paying $200 or more each year for the rest of your life to only assist your eyesight may make the case for LASIK alone and potentially save you money over time.

So, what do you think? Is LASIK worth it? Weigh in on the comments below.