Comments on: Save On Your Car Insurance With Proper Emergency Savings

By: Strawberry Picking In New Jersey And Links

Strawberry Picking In New Jersey And Links — Mon, 01 Jun 2009 04:39:38 +0000

[...] Save On Your Car Insurance With Proper Emergency Savings @ Free From Broke [...]

By: ffb

ffb — Sun, 31 May 2009 02:06:15 +0000

Great point on the extended warranties!

By: Foobarista

Foobarista — Fri, 29 May 2009 22:49:42 +0000

Now that we can, we go with liability-only on our cars, although it is a whole lot ($300K liability with a 1.5M umbrella policy). We figure that once we have enough cash in our long-term emergency fund to buy a car, we don’t need non-liability insurance.

This saves about $1K/year.

Another area where this approach matters is in extended warranties, which are also a type of insurance. If you have enough money in your e-fund to replace your electronic gadget or appliance after its base warranty has expired, there’s no reason to buy an extended warranty (although with the possible exception of a notebook computer, there’s no reason to do so for any electronic device, ever).

By: TGIF Round Up: No spend summer edition | Frugal Living Tips & Money Saving Ideas | Living Well on Less

Fri, 29 May 2009 12:04:23 +0000

[...] From Broke writes about how your emergency fund can help you save on car insurance. If you “self insure” with a healthy savings account, you can afford higher deductibles [...]

By: EP

EP — Tue, 26 May 2009 19:58:00 +0000

I do have adequate savings, I’m going to have to look into raising my deductable.

By: El Cheapo

El Cheapo — Mon, 25 May 2009 12:07:42 +0000

I just wanted to comment that I chuckled when I saw the image of the bumper-sticker when I read your post. That was funny and a good for an early morning laugh.El Cheapo’s last blog post..Happy Memorial Day

By: ffb

ffb — Sat, 23 May 2009 02:14:52 +0000

Yeah, a lot of the time it might not even be worth the future rate increases for smaller claims. You’ll probably pay out of pocket and not claim it anyway.

By: David Leonhardt

David Leonhardt — Sat, 23 May 2009 01:57:36 +0000

The thing is, even if we have a minor crash, we would't want to worry about the deductables. Making a claim would only raise our rates. Insurance really is meant to be for the big hope-they-never-ever-happen events.David Leonhardt’s last blog post..El Marcadorado updated

By: Personal Finance Buzz

Personal Finance Buzz — Sat, 23 May 2009 01:42:56 +0000

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By: ffb

ffb — Fri, 22 May 2009 16:41:45 +0000

And that’s important here – you have to have the money. It can make sense for some people to have a lower deductible if their savings can’t handle it. I can see why you would have your health lower though. I would imagine that would get used more (unless you’re really a bad driver!).