Now more then ever is a time to learn how you can save your money as much as possible. This pandemic has not only caused people to lose jobs but has also caused jobs to cut salaries to keep employees on payroll. Whether you have lost a job or your salary has been downsized on your current job you need to learn how to save your money.
Recently I found that you can save on your car insurance. You may be wondering how is that possible? First some car insurance companies, like State Farm, are automatically reducing insurance rates due to less drivers being on the road at this time due to the pandemic. I believe State Farm has reduced their insurance rate across-the-board about 15%. If your insurance company has not reduced rates due to less drivers been on the road then it may be time for you to switch insurance companies and take a look around to see what other options are out there for you.
Another way you can save on your insurance is through mileage savings. Did you know that there is a mileage discount? The less you drive the less your insurance bill is. If you are currently working from home and not traveling as much you should definitely reach out to your insurance company to find out about reducing the miles you drive per week to what you are currently driving. I called my insurance company and received my low mileage discount. For my cars I’ve seen a total of about $10-$15 per month reduction for my two vehicles, which in total is about a $25 a month saving.
With the drop in insurance rate with my insurance company plus my new mileage discount I’m currently saving around $70 a month for the two vehicles on my policy.
Schedule some time to contact your insurance company to possibly reduce your insurance rates due to you driving less.