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I’ve been bombarded with ads promising incredibly low car insurance rates, like under $100 a month, from companies I’ve never heard of. My current insurance is way more than that, so it’s tempting. But it almost seems too good to be true. Has anyone actually switched to one of these “budget” online insurance companies and genuinely saved a lot of money without any major downsides? I’m curious to hear real experiences before I jump ship.
I used to pay nearly $500 a month with Progressive because of a few tickets. When I started seeing ads saying my insurance could go down to $35 with companies like Otto and Root, I got really excited. However, after reading more, it seems like those super low numbers are just a possibility, and my driving record with three tickets in four years of driving as a 24-year-old male will likely put me on the much higher end of any calculation.
From what I’ve seen, these advertised low rates, like $29 for liability insurance, often have a tiny “and up” written in the corner. This small print is crucial because if you’re a young male in your early 20s with three tickets, you’re almost certainly going to fall into that “and up” category. So, the initial cheap number you see isn’t the reality for many people.
I remember reading about someone who used to work for Geico, and they mentioned that if you have a ticket every 16 months—like the person asking the original question—it’s unlikely you’ll qualify for those incredibly low rates. This made me think that the advertised prices are probably just a way to grab attention rather than being realistic for everyone.
I read that even for someone with a clean record and other ideal circumstances, like being married, a homeowner, having good credit, and being over 40, they might see low premiums under $100 a month, but they also saw instances where people with the same good stats were paying around $300. This shows just how many variables affect the price, and a clean record isn’t the only factor for those rock-bottom rates.
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