Over the weekend, we received our 6 month notice for renewal for our car insurance. We previously had a car on there that a loan was outstanding, so we had to get the higher coverage for it. Our other vehicle though was fully paid off. Well, in January we paid off the one that had a loan outstanding (and junked it). Guess what? Our bill for 6 months of basic coverage is $135.
That comes out to a bit over $22/month for car insurance! So many of the experts that say you should pay cash for a car so that your not paying a car payment every month, but the item they don't mention is how much you save on your insurance as well. I love having no car payment!
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