You should make a disclosure that you are not licensed insurance consultant, agent, or broker, and people should advise with a trusted licensed professional, after watching your video.
AS A LICENSED AGENT I ACTUALLY AGREE WITH THIS VIDEO...THIS IS A VERY GOOD VIDEO....licensed in 45 states*** i can understand your concern that some1 may ASSUME she is licensed although she has never mentioned or stated as much
jerome junior as a licensed agent to A LICENSED AGENT IN 45 STATES, I agree, this is a pretty good video. But as A LICENSED AGENT IN 45 STATES, you should know that someone in the position to be called influencer , must be careful with what they say, since it can be interpreted as direct advice. So making disclosure is going to give at least a layer of protection to Justine @Debt free millennials.
Licensed in 45 states ?? I don’t believe you based of the comment that you liked this video. So you paid like over $45,000 to get licenses and you pay tens of thousands to renew your licenses ?????? You drove to 45 states to get licensed ?? I m licensed in CA
Young Lady, young lady, young lady! I am a 72 year old millennial (lol). I have never paid much attention to my vehicle insurance policies. Today I was getting ready to write a check for my auto insurance and realized that with all this inflation I'm short of funds. So, I told my wife that tomorrow I'm going to my insurance company and tell them I can't afford what I'm paying presently for the policy. I decide to get on youtube and look at insurance company reviews. Hallelujah! I ran into your video and you taught me how I could save some money and you gave me a strategy for tomorrow's meeting. You are a blessing!! I wish you and your family the BEST.
@@2_572 Not yet. I went to talk with an agent at the auto club. I told them that I wanted to increase my deductible on my two cars to $1000.00 each. I have a Travel Trailer that's 2 years old and they value it at 39,000 with a $250.00 deductible that I will probable increase as well. Talking to the lady I felt while sitting there that she was not too enthusiastic about what I wanted to do. She told to go home and think about it. So I did. Anyway I'll be going back tomorrow to make that changes. Thank you again for your advice and video. I'm going to watch it again, Emil.
@@apostleemilcedeno5269Why would you expect any enthusiasm on her part after you were going to make her do some real work for a change, plus at the same time you are trying to save some money at the same time.
I'd say you're adulting well if you made a point to look up car insurance info. It's not as straightforward as it should be! So glad you found this video helpful :) Love hearing that!!
I was feeling very overwhelmed as this is my first time buying a car and looking into insurance so THANK YOU for taking the time to put this together. I really appreciated it.
@Olivares Silviano If you really want money saved under your mattress, consider instead of paper money to convert it to gold or silver long term. Short term it really does not matter much and you could lose money on conversion rates. BUT long term convert.
@@Inari007Very good advice, but unfortunately it does not apply to this topic. You are saving, in this case you are saving for an emergency waiting to happen, not for a retirement plan.
I’m actually shopping around for Car Insurance for the first time and had no idea where to start. But this was by far the most detailed, thorough and best explanation I’ve come across. I’ve always looked to my parents for explanations like this as i got older but they are from a much older generation where they don’t really understand the technicalities of today’s modern society of how things work now and days. So this video gave me a lot of insight and knowledge i did not know or could comprehend about car insurance. Thanks to you ive taken a step further to begin my car insurance process knowing what to look out for to get the best and most affordable car insurance there is. Thank you. Great video! 👍🏼
about to buy my first car (used, in cash of course lol) and was COMPLETELY lost in the sauce with car insurance. the video definitely helped to break it down. THANKS!
Hope it's ok, I'm a senior citizen but I did learn alot anyway. You explained really hard concepts so well. Thank you and hope it's ok you have some elders on board!
This was a super helpful and concise breakdown of auto insurance terms. I feel that much more prepared to shop around for insurance. It’s tough when no one shows you how the system works. Thank you!
Thanks for this, I am on the phone chat right now with Progressive and listening to your video. The agent rep heard your voice in the background and she laughed and said she is 100% right. I raised my deductible from $500 to $1000
I think this was a great video that was perfect for BOTH people that want to understand the details AND for the people who just want you to tell us what to do. Some remaining questions I had were....I know I'm going to get liability. But do people NEED to get comprehensive if I don't care about natural disasters/robberies? And if liability already kind of covers collision...do we NEED collision, especially if I don't really care about my old car. At what point is the extra cost for comprehensive + collision not worth it for what it covers? Also some feedback, for young adults that are clueless like me. Everything made complete sense until terms like deductibles and premium came in. But after a few rewinds, I realized that the deductible is just what you always have to pay to initiate the insurance...and premium is just the cost of the insurance. I know it's kinda stupid, but it took me a bit. Thanks for this awesome video!
Thank you for the video. I still have some questions after watching it. Hope you know the answers :) 1) Your insurance shows Uninsured Motorist Property Damage as "no coverage". Does this mean if someone if someone hits your car, and that person is uninsured or underinsured, your insurance company will only cover your car repair up to $3,500? Or will the Collision coverage kicks in and cover ALL your car repairs costs? What if the car repairs cost is like $40,000? 2) Collision deductible of $1,000 - It doesn't show how much collision coverage will go up to, so how do you know how much the insurance will cover in an accident, regardless whose fault it is? 3) Medical payments of $10,000 each person - In an accident, if you're at fault, bodily injury liability covers the other driver, and medical payment will cover your medical bills up to $10,000? - In an accident, if the other driver is at fault, their insurance will cover your medical bills and your passengers' medical bills. If that drivers doesn't have insurance or doesn't have enough insurance, then your insurance's Uninsured Motorist Bodily Injury will kick in and pay your and your passengers' medical bills.
As a person that has 25 years of property and casualty claims experience under the belt, your advice is very well in line. I listened to your video on a whim just to see what you have to say, and I must say you’ve done your research. Nicely done.
Young lady I'm not a millennial(baby boomer)but your presentation was the most informative and easy to understand that I found .It helped me tremendously.Thank you.
I'm a millennial and my parents just asked me to start taking over my own car insurance. I was SO at a loss for where to even start, so this video was INCREDIBLY helpful with helping me understand what to do! Thank you :)
Thanks! This was very helpful. I was shopping around for a better rate with no luck not realizing that a few changes to my current policy could also save me money. I took a few of your insights and reduced my new 6 month policy from $1178 to $999.80. It was actually going up by $7 each month from my old policy but instead I got it down to more than a $20/mo savings from my old monthly payments!
Wow! That's awesome news! Thanks for sharing. It literally just takes a few tweaks and you can save a ton in insurance premiums. So glad you found this helpful!!
Thank you so much. I finally understand after driving for 55 years. Stupid. Cuz one depends on trusting the agents becuz we don't know. U Made it so EZ to understand. Proud for a young female to have explained it so well. Coddles to YOU, Missy😊
I Iove you I literally watched your video this morning to figure out my car insurance because they were giving me some crazy prices and you literally save me money over $150 when I change my collision in my comprehensive deductibles thank you
Watching this in preparation for buying my first car and this was extremely helpful! Thank you so much for making something that seems so scary so simple to understand!!
This video was super helpful, thank you so much!! I really appreciated how detailed it was. You answered a lot of questions I had. I just spent all day on the phone getting different quotes and I feel ready to make a decision on my auto insurance 🥳
Thank you for making this video! Much appreciated. I decided to go with Progressive after getting several different quotes. I was about to just renew my policy without looking at other options (because eck...who wants to do the leg work lol). Glad I came across your video. Saving $500 + annually now. Thank you!!
Thank you Debt Free Millennials I just got of the phone with my insurance company and I'm saving almost $500 every 6 months. Have a blessed day young lady!
23 y.o, just obtained my license about 2 weeks ago, getting a car from a friend once I get it fixed up, and going to get some insurance on it so he can do a title transfer. Not knowing where to start, this video gave me some good insight and tips on what to look for! Thanks a lot, and I hope I find what’s best for me. Adulting is challenging, but with the right studies and execution, it’ll be ok.
You are amazing. My agent has never explained it to me the way you have done it. I have been paying so much money for Only 10k/20k/10k PIP liability and BIL Comprehensive It was for 100 or something and also the collision. What a rip off. I am looking for another company and this time I will max out the Liability for sure. Thank you for your help.
Okay so I’m 14, Ik young right, but I’m really just trying to prepare myself early because school is just not doing it. And your are so helpful I was able to understand all of it and write it down without really any problems! You’re so helpful, thank you for making these videos😌
That is so cool that you are learning about car insurance now! I think if you keep learning about how money works, investing, college tuition costs, etc you are going to be in great shape once you graduate high school. And thanks so much for watching the video!
Thank you for your explanation I finally get it😊 I currently have a brain injury and I called my current car insurance to get them to explain to me what Coverage my husband & I currently have No matter how many times I told the girl on the phone that the way she was explaining to me because my brain injury I was having a hard time understanding ,she just kept repeating over and over the same thing So I decided to try TH-cam and found you You broke everything down I had no problem understanding at all & I didn’t even have to relook at the video. I got it the 1st time. I was so excited that I felt the need for the 1st time to actually commented on a video It meant the world to me to be able to actually comprehend something instead of being so confused. I am not a stupid person I just unfortunately on my 9th concussion & the part of my brain that got messed up this time is the part that helps you process so thank you so much 🤗🧚♀️🙏Kathy
This is an astonishingly good video. Breath of fresh air on TH-cam. Just solid advice packed from beginning to end, no nonsense. A lot of tips people don't know about here, like paying every 6 months and bundling. What shocked me here was how cheap it is to jack up liability coverage. For some reason, I always thought it made a big difference so I've been stingy about my liability coverage, but I'm looking at my own policy, and holy cow you're right. And I'd never heard of Gabi before, I'll check it out!
what an interesting explanation you did , From a french guy that seems really confusing but really helpful . Fluency in all topics is kind of a goal and to crown it all you american way of talking is just mind blowing for me I really appreciate it
I wished I had seen this video three years ago. I felt like my agent was speaking in a foreign language when I got my insurance. I'm so thankful for TH-cam and people like you helping me and others, who need help understanding how all this works. Now I can go over my car insurance policy with a clearer understanding and save some coins. THANK YOU!!
Your tool that you recommend to get quotes literally gave me quotes that were wayyyy more than I'm paying now. One of the quotes was for $1,025 PER MONTH! With less coverage too. For context I currently pay $170 for a 2021 Corolla.
Liability also covers damages done to structures. Best advice for insurance, ask friends for an agent who will always be available and shoots you straight. These online companies can't match the level of service that an in person agent can. If you want to live like the rich, you have to have the best working for you.
As somebody about to turn 30 in 2 months and is JUST about to buy their very first vehicle, this video was perfect. I was drowning in the most aggressively toned 'what not to do when buying a car/car insurance' videos that were just making me feel worse for not knowing these things. Your calm voice and very relatable advice really helped me figure a few things out! All while not feeling like a total failure... 😅 Genuinely, thank you so much!!
Helpful and clear explanations. In 2024, raising my minimum liability insurance to match your coverage? My premium more than doubles. Things have changed since your original post 💰
Coming from one of your targeted audience members, this was EXTREMELY helpful! Thank you SO MUCH for this concise and straightforward piece of practical advice!
This should be taught in school, at least the fundamentals. I want to thank my high school for teaching me so much about Shakespeare, those poems really helped me save money...
Instead of paying for the third type. Pay for the 1st or 2nd, each every penny you saved compared to type 3 per month, put it in a saving account. In a year or 2 youll have plenty of money to fix a car on your own and left over money. Compared to paying for 3 years and not hitting anyone, that would be an extreme waste of money imo. Drive safe, if nothing is your fault then you are fine. I recommend paying attention to the road and buying basic insurance, but saving money just incase.
She gets great rates as a middle-aged female. I'm a single 28 male and if I max out my liability its an extra $100 dollars. Hard to find policies lower than $1000 for 6 months. I've never had an accident or claim and I've been driving for 10 years.
There are other factors that play into your premium price such as where you live, what you drive and believe it or not - your credit score. Any of those things could drive up the price.
Excellent video! However, if you are a new driver (recently got your license), you are going to pay $300 monthly. I cannot find any cheaper quotes for me. It’s very frustrating 😢
I paid $414 for per month with Progressive!! I had 1 accident was my fault and 1 speeding ticket in school zoon. So what insurance company do I need to find the best lower rate insurance??
Holy cow that's a super high premium! I would ask Progressive how long you have to be in "good driver" status before they can lower your premium. I don't have a specific insurance company, but I used Gabi to help me identify a good deal.
You're most likely paying that much because of your accident and the ticket, you're considered a high risk. After 3 years it shouldn't count against you.
Omg soo helpful! I am new to all of this so I am grateful for this video. ❤ I love it when you showed examples of what you did and comparison of the numbers. Most importantly, listing the todo steps. Thank you so much.
You should start by figuring out how much car insurance you need. Just follow the steps in this video! LMK how much your premium is and what kind of car you drive.
I'm 20 and moved to a new state(Texas) from another(Florida). License requirements here and probably elsewhere need you to have in-state insurance and since I just got a new car here a month ago, I feel like I'm gonna need to buy my first car insurance plan on my own, so this video definitely helps.
Can you speak about Medical Payments Coverage Limits, Uninsured Motorists Coverage Liability, and Uninsured Motorists Property Damage Coverage options?
Basically that $1000 deductible is telling the insurance company you are willing to fix minor fender benders out of your own pocket. Get a $100 deductible and your telling them your gonna call them for a parking lot door dent 😂
Although your explanation on how coverage works is correct and you made it very easy to understand. I can tell you are not a licensed agent. Especially with Progressive Insurance there is a lot in the back ground when rating a client. For example: credit and claims. Plus an Insurance score which is similar to credit but just based on your personal insurance. These are all factors when rating (your policy premium) Also, different states have different requirements as well as liability limits. In Progressive (only because you used them as an example) a lot of times when you increase your limits of liability this will decrease your policy. Maybe only a little bit but it's still a savings with better coverage. It shows the underwriter (the person that you don't see that rates you) that you are a responsible driver. When shopping around every 6 months or when your policy renews actually can hurt you. It shows other companies that you are not loyal and can increase your policy. A lot of times you lose out on huge discounts when you move around your Insurance. With this all being said having an agent that works with multiple companies is much better than getting Insurance online. An agent is your voice that you can not be in the event that there is an accident. They can guilde you in the best way and save you the most money they will also shop your Insurance around for you so you don't have to do all that work and it's free.
Great reply and points, Clair. Yes, changing carriers often can actually affect the rate. Yes - work with your local, independent agent! An independent has the ability to rate different carriers and find the one that fits your current needs and budget. :-)
I asked State Farm about switching my monthly payment to annual or biannual and it would have only saved $1 per month. It wasn't worth it to me. Actually, the older our cars get the less they cost to insure and register. While comprehensive will cover damages to your car if broken into, it will not cover the items stolen. That usually goes under your homeowners insurance policy. When we got broken into it just didn't make sense to put in the claim as the loss was lower than the deductible. I work for a police department and you would not believe the things people leave in their cars and then those items get stolen.
Wow, good to know! Yeah I was actually looking at my old State Farm insurance with my '02 Ford ZX2 and I don't think I had a discount for paying the six month premium but it never hurts to look and I'm glad you looked into it!
The funny thing is that over your lifetime you will receive only about 10-15% in claims vs the total you have payed. The problem is that most Americans never have enough saved to pay when an accident happens. So basically you have a lifetime loan with the insurance companies that you can't get out of
Great presentation. Thank you. It feels better to pay a lower deductible when you get into an accident or if you run your car into the side of your garage. For the lower premium, it's a gamble of how often you think you might need to file a claim that's your fault and have to pay the deductible. How does collision work? You didn't talk much about that besides defining it.
It’s not a gamble if you have enough in your emergency fund to pay your deductible. Also, think about your own situation. How often do you file claims? I haven’t filed one since 2012. Collision insurance covers the repair costs of YOUR vehicle if you are involved in an accident, no matter whose fault it is. Liability insurance does not cover damage to your car unless the other driver is at fault and they have enough to cover the damages to your car. Does this help?
some decent advise to be had here, but there are a couple of additional things that people should keep in mind. for liability, raising your limits can have a severe impact on your price depending on your driving history, age, where you live, what car you drive, and a lot of other factors. if a risky driver wants more coverage, his cost will go up more than a safe driver with no accidents. raising deductibles is a good way to save, but remember that by having $1000 deductibles, you are taking responsibility for any damages that don't exceed $1000. if you live in a state where it hails a lot or has a lot of deer, you might save money by lowering your deductibles. in your example, lowering your comp deductible would cost about $8 a month, but could potentially save you $900 if you needed to make a comprehensive claim. in fact, you would need to go about nine years without a comp claim before you saved more than the lower deductible would if you needed to make a claim.
also make sure you check with your bank or vehicle financier if you have a loan, because sometimes $500 is the highest deductible they will let you have.
Hey there thanks for sharing! Agreed, it does depend on where you live for sure! I found that maxing out my liability had very little change to my overall premium cost and I want the most coverage I can get on liability. And raising the deductible only works IF you have the cash set aside in an emergency fund to cover it.
Advice for everyone: set your comprehensive deductible to $50-200, it will raise your premium only like $20-$30 max. But when your windshield cracks from rocks on road you will only pay $50
This is an absolutely amazing video! Thank you so much for this! I was so annoyed trying to figure this stuff out so I’m glad to have someone’s input who knows what they are talking about.
Thank you! For the info Now I have an idea of how much of a difference the amount of deductible it makes. You explain it better than my own license agent did.
Your video was very clear. Easy to follow. Good that you summarized the key point after each section and at the end. You made a good job at making it simple. Thx
You should make a disclosure that you are not licensed insurance consultant, agent, or broker, and people should advise with a trusted licensed professional, after watching your video.
AS A LICENSED AGENT I ACTUALLY AGREE WITH THIS VIDEO...THIS IS A VERY GOOD VIDEO....licensed in 45 states*** i can understand your concern that some1 may ASSUME she is licensed although she has never mentioned or stated as much
jerome junior as a licensed agent to A LICENSED AGENT IN 45 STATES, I agree, this is a pretty good video. But as A LICENSED AGENT IN 45 STATES, you should know that someone in the position to be called influencer , must be careful with what they say, since it can be interpreted as direct advice. So making disclosure is going to give at least a layer of protection to Justine @Debt free millennials.
That's why I pinned your comment.
Licensed in 45 states ?? I don’t believe you based of the comment that you liked this video. So you paid like over $45,000 to get licenses and you pay tens of thousands to renew your licenses ?????? You drove to 45 states to get licensed ?? I m licensed in CA
You don't need a license to give advice like that. These licenses are made up to create barriers to entry
Young Lady, young lady, young lady! I am a 72 year old millennial (lol). I have never paid much attention to my vehicle insurance policies. Today I was getting ready to write a check for my auto insurance and realized that with all this inflation I'm short of funds. So, I told my wife that tomorrow I'm going to my insurance company and tell them I can't afford what I'm paying presently for the policy. I decide to get on youtube and look at insurance company reviews. Hallelujah! I ran into your video and you taught me how I could save some money and you gave me a strategy for tomorrow's meeting. You are a blessing!! I wish you and your family the BEST.
I love this!!! Please come back and let me know if you were able to save on your car insurance premium!
@@DebtFreeMillennials Will do.
@@apostleemilcedeno5269 did you save? Lol
@@2_572 Not yet. I went to talk with an agent at the auto club. I told them that I wanted to increase my deductible on my two cars to $1000.00 each. I have a Travel Trailer that's 2 years old and they value it at 39,000 with a $250.00 deductible that I will probable increase as well. Talking to the lady I felt while sitting there that she was not too enthusiastic about what I wanted to do. She told to go home and think about it. So I did. Anyway I'll be going back tomorrow to make that changes. Thank you again for your advice and video. I'm going to watch it again, Emil.
@@apostleemilcedeno5269Why would you expect any enthusiasm on her part after you were going to make her do some real work for a change, plus at the same time you are trying to save some money at the same time.
Amazing!! I am 26 and I still don't know how to adult, so this was VERY informative!!
I'd say you're adulting well if you made a point to look up car insurance info. It's not as straightforward as it should be! So glad you found this video helpful :) Love hearing that!!
I am 28 and I still cannot adult. This video helped me. Now I feel more grown up !
Michelle Baltazar yeah same here
46 still learning
Same sis and I’m 27 just figuring stuff out as I go
I was feeling very overwhelmed as this is my first time buying a car and looking into insurance so THANK YOU for taking the time to put this together. I really appreciated it.
Yay! So glad it helped.
I’ve seen/heard a lot of videos about this subject. They’ve all been good, but yours was exceptionally easy to follow and clear and simple.
Oh wow, thank you!!
I agree!
Thank you for this! Doing my research before purchasing my first car. It's a little stressful but watching this video has informed me a lot.
What are you getting
If you raise your deductibles be sure to have some kind of savings account or sinking fund for that difference.
Yup! I mentioned that's why the emergency fund is so so important!
@Olivares Silviano If you really want money saved under your mattress, consider instead of paper money to convert it to gold or silver long term. Short term it really does not matter much and you could lose money on conversion rates. BUT long term convert.
@@Inari007Very good advice, but unfortunately it does not apply to this topic. You are saving, in this case you are saving for an emergency waiting to happen, not for a retirement plan.
I’m actually shopping around for Car Insurance for the first time and had no idea where to start. But this was by far the most detailed, thorough and best explanation I’ve come across. I’ve always looked to my parents for explanations like this as i got older but they are from a much older generation where they don’t really understand the technicalities of today’s modern society of how things work now and days. So this video gave me a lot of insight and knowledge i did not know or could comprehend about car insurance. Thanks to you ive taken a step further to begin my car insurance process knowing what to look out for to get the best and most affordable car insurance there is. Thank you. Great video! 👍🏼
Awesome! I'm so glad you found it helpful. It was helpful for me too, because I had no idea how car insurance worked in the past.
Agree it’s so confusing to do anything
about to buy my first car (used, in cash of course lol) and was COMPLETELY lost in the sauce with car insurance. the video definitely helped to break it down. THANKS!
Hope it's ok, I'm a senior citizen but I did learn alot anyway. You explained really hard concepts so well. Thank you and hope it's ok you have some elders on board!
This was a super helpful and concise breakdown of auto insurance terms. I feel that much more prepared to shop around for insurance. It’s tough when no one shows you how the system works. Thank you!
Thanks for this, I am on the phone chat right now with Progressive and listening to your video. The agent rep heard your voice in the background and she laughed and said she is 100% right. I raised my deductible from $500 to $1000
YES! You have been super helpful. Insurance has always confused me and I've fallen into the "this is what my parents had" situation.
I think this was a great video that was perfect for BOTH people that want to understand the details AND for the people who just want you to tell us what to do.
Some remaining questions I had were....I know I'm going to get liability. But do people NEED to get comprehensive if I don't care about natural disasters/robberies? And if liability already kind of covers collision...do we NEED collision, especially if I don't really care about my old car. At what point is the extra cost for comprehensive + collision not worth it for what it covers?
Also some feedback, for young adults that are clueless like me. Everything made complete sense until terms like deductibles and premium came in. But after a few rewinds, I realized that the deductible is just what you always have to pay to initiate the insurance...and premium is just the cost of the insurance. I know it's kinda stupid, but it took me a bit.
Thanks for this awesome video!
Damn good questions!!
Thank you for the video. I still have some questions after watching it. Hope you know the answers :)
1) Your insurance shows Uninsured Motorist Property Damage as "no coverage". Does this mean if someone if someone hits your car, and that person is uninsured or underinsured, your insurance company will only cover your car repair up to $3,500? Or will the Collision coverage kicks in and cover ALL your car repairs costs? What if the car repairs cost is like $40,000?
2) Collision deductible of $1,000 - It doesn't show how much collision coverage will go up to, so how do you know how much the insurance will cover in an accident, regardless whose fault it is?
3) Medical payments of $10,000 each person
- In an accident, if you're at fault, bodily injury liability covers the other driver, and medical payment will cover your medical bills up to $10,000?
- In an accident, if the other driver is at fault, their insurance will cover your medical bills and your passengers' medical bills. If that drivers doesn't have insurance or doesn't have enough insurance, then your insurance's Uninsured Motorist Bodily Injury will kick in and pay your and your passengers' medical bills.
As a person that has 25 years of property and casualty claims experience under the belt, your advice is very well in line. I listened to your video on a whim just to see what you have to say, and I must say you’ve done your research. Nicely done.
Young lady I'm not a millennial(baby boomer)but your presentation was the most informative and easy to understand that I found .It helped me tremendously.Thank you.
Oh thank you so much! Glad you found it helpful.
I'm a millennial and my parents just asked me to start taking over my own car insurance. I was SO at a loss for where to even start, so this video was INCREDIBLY helpful with helping me understand what to do! Thank you :)
Yay! I'm glad you found it helpful :)
OMG EVERY YOUNG ADULT NEEDS TO SEE VIDEOS LIKE YOURS!! Thank you so much!
Haha, thank you! I tried to make the video easily understandable so I could refer back to it when I need to make changes to car insurance.
I'm almost 19, this really helps!
Thanks! This was very helpful. I was shopping around for a better rate with no luck not realizing that a few changes to my current policy could also save me money. I took a few of your insights and reduced my new 6 month policy from $1178 to $999.80. It was actually going up by $7 each month from my old policy but instead I got it down to more than a $20/mo savings from my old monthly payments!
Wow! That's awesome news! Thanks for sharing. It literally just takes a few tweaks and you can save a ton in insurance premiums. So glad you found this helpful!!
Thank you so much. I finally understand after driving for 55 years. Stupid. Cuz one depends on trusting the agents becuz we don't know. U Made it so EZ to understand. Proud for a young female to have explained it so well. Coddles to YOU, Missy😊
As someone who is insurance licensed, I think your limits are good advice, based on what my office is advising. Lol, I need to up it myself 😅
I Iove you I literally watched your video this morning to figure out my car insurance because they were giving me some crazy prices and you literally save me money over $150 when I change my collision in my comprehensive deductibles thank you
Watching this in preparation for buying my first car and this was extremely helpful! Thank you so much for making something that seems so scary so simple to understand!!
This video was super helpful, thank you so much!! I really appreciated how detailed it was. You answered a lot of questions I had. I just spent all day on the phone getting different quotes and I feel ready to make a decision on my auto insurance 🥳
Thank you for making this video! Much appreciated. I decided to go with Progressive after getting several different quotes. I was about to just renew my policy without looking at other options (because eck...who wants to do the leg work lol). Glad I came across your video. Saving $500 + annually now. Thank you!!
OMG awesome! so glad to hear it!!
Thank you Debt Free Millennials I just got of the phone with my insurance company and I'm saving almost $500 every 6 months. Have a blessed day young lady!
thank you so much. i’m 17 and i’m really struggling to get my life together on my own and this really helped
I'm so glad this helped!
23 y.o, just obtained my license about 2 weeks ago, getting a car from a friend once I get it fixed up, and going to get some insurance on it so he can do a title transfer.
Not knowing where to start, this video gave me some good insight and tips on what to look for!
Thanks a lot, and I hope I find what’s best for me. Adulting is challenging, but with the right studies and execution, it’ll be ok.
I live in Palm Beach County Florida. The rates on this video need to be multiplied 10x to be accurate. Yes 10x
Orlando here, I agree.
@@Henry.P Boca here. I agree also . I could never max out. Hard time at 20,000.
You are amazing.
My agent has never explained it to me the way you have done it.
I have been paying so much money for
Only 10k/20k/10k PIP liability and BIL
Comprehensive It was for 100 or something and also the collision.
What a rip off.
I am looking for another company and this time I will max out the Liability for sure.
Thank you for your help.
I made the changes you said and saved $292.08 per year. Thank you!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
OMG I'm doing a happy dance for you!!! YES!
You are adorable! At 54, I’m still confused when insurance shopping. You explained this PERFECTLY! Thank you so much! 😁
54??? Are you single? 😍
Okay so I’m 14, Ik young right, but I’m really just trying to prepare myself early because school is just not doing it. And your are so helpful I was able to understand all of it and write it down without really any problems! You’re so helpful, thank you for making these videos😌
That is so cool that you are learning about car insurance now! I think if you keep learning about how money works, investing, college tuition costs, etc you are going to be in great shape once you graduate high school. And thanks so much for watching the video!
Thank you for your explanation I finally get it😊 I currently have a brain injury and I called my current car insurance to get them to explain to me what Coverage my husband & I currently have No matter how many times I told the girl on the phone that the way she was explaining to me because my brain injury I was having a hard time understanding ,she just kept repeating over and over the same thing So I decided to try TH-cam and found you You broke everything down I had no problem understanding at all & I didn’t even have to relook at the video. I got it the 1st time. I was so excited that I felt the need for the 1st time to actually commented on a video It meant the world to me to be able to actually comprehend something instead of being so confused. I am not a stupid person I just unfortunately on my 9th concussion & the part of my brain that got messed up this time is the part that helps you process so thank you so much 🤗🧚♀️🙏Kathy
Yay! I am so so glad you found this video helpful!!
This was a great Car Insurance 101! Very clear and easy to follow. I loved the real examples as well. Thank you!
This is an astonishingly good video. Breath of fresh air on TH-cam. Just solid advice packed from beginning to end, no nonsense. A lot of tips people don't know about here, like paying every 6 months and bundling. What shocked me here was how cheap it is to jack up liability coverage. For some reason, I always thought it made a big difference so I've been stingy about my liability coverage, but I'm looking at my own policy, and holy cow you're right. And I'd never heard of Gabi before, I'll check it out!
Simple and straight to the point!!!! LOVED IT!
Thank you!!
what an interesting explanation you did , From a french guy that seems really confusing but really helpful . Fluency in all topics is kind of a goal and to crown it all you american way of talking is just mind blowing for me I really appreciate it
Thank you! I studied French in college :) I am so glad you reached out and watched the video!
Thanks for making it understandable because I have always been confused by it even when explained by an insurance agent! Whew finally I get it!
Yay! I'm glad you found it helpful 🙂
I wished I had seen this video three years ago. I felt like my agent was speaking in a foreign language when I got my insurance. I'm so thankful for TH-cam and people like you helping me and others, who need help understanding how all this works. Now I can go over my car insurance policy with a clearer understanding and save some coins. THANK YOU!!
I'm so glad you found it helpful!!
This is really concise and helpful! Thank you!
You're welcome!
Your tool that you recommend to get quotes literally gave me quotes that were wayyyy more than I'm paying now. One of the quotes was for $1,025 PER MONTH! With less coverage too. For context I currently pay $170 for a 2021 Corolla.
I'm 39 years old and I've never had car insurance explained so clearly! Great video and tips. Thank you!
Thank you so much!!
Liability also covers damages done to structures.
Best advice for insurance, ask friends for an agent who will always be available and shoots you straight. These online companies can't match the level of service that an in person agent can. If you want to live like the rich, you have to have the best working for you.
As somebody about to turn 30 in 2 months and is JUST about to buy their very first vehicle, this video was perfect. I was drowning in the most aggressively toned 'what not to do when buying a car/car insurance' videos that were just making me feel worse for not knowing these things. Your calm voice and very relatable advice really helped me figure a few things out! All while not feeling like a total failure... 😅 Genuinely, thank you so much!!
Helpful and clear explanations. In 2024, raising my minimum liability insurance to match your coverage? My premium more than doubles. Things have changed since your original post 💰
Man, this was so incredibly helpful! Thank you so much for taking the time to make this video. ✌️
Glad it was helpful!
Coming from one of your targeted audience members, this was EXTREMELY helpful! Thank you SO MUCH for this concise and straightforward piece of practical advice!
You're so welcome!
Comp and collision $250 to $500, Glass $0-$100
($1000 is too high unless you're already considered high risk)
A good credit rating will help your ins.
This what is Auto insurance explained was very helpful and informative.
This video is exactly what I needed thank you so much. Subscribed.
Awesome, thank you!
This should be taught in school, at least the fundamentals.
I want to thank my high school for teaching me so much about Shakespeare, those poems really helped me save money...
bahaha
Outstanding video with clear definitions of the auto insurance policy and helpful hints on saving money. Good speaking voice as well. Bravo!
Instead of paying for the third type. Pay for the 1st or 2nd, each every penny you saved compared to type 3 per month, put it in a saving account. In a year or 2 youll have plenty of money to fix a car on your own and left over money. Compared to paying for 3 years and not hitting anyone, that would be an extreme waste of money imo.
Drive safe, if nothing is your fault then you are fine. I recommend paying attention to the road and buying basic insurance, but saving money just incase.
She gets great rates as a middle-aged female. I'm a single 28 male and if I max out my liability its an extra $100 dollars. Hard to find policies lower than $1000 for 6 months. I've never had an accident or claim and I've been driving for 10 years.
There are other factors that play into your premium price such as where you live, what you drive and believe it or not - your credit score. Any of those things could drive up the price.
Excellent video! However, if you are a new driver (recently got your license), you are going to pay $300 monthly. I cannot find any cheaper quotes for me. It’s very frustrating 😢
This tutorial was exceptionally well-done. Your explanations are very clear... and the practical example is what makes it stand out.
Awesome, thank you!
I paid $414 for per month with Progressive!! I had 1 accident was my fault and 1 speeding ticket in school zoon. So what insurance company do I need to find the best lower rate insurance??
Holy cow that's a super high premium! I would ask Progressive how long you have to be in "good driver" status before they can lower your premium. I don't have a specific insurance company, but I used Gabi to help me identify a good deal.
Tickets are huge especially speeding through a school zone. When did you have the accident and speeding ticket? Usually they will drop off at 3 years.
You're most likely paying that much because of your accident and the ticket, you're considered a high risk. After 3 years it shouldn't count against you.
I know is bent like 3 years since you made this video but I want to thank u 😊 🙏 cause I just saved a lot of money 💰 by following ur advice.
We need the like and dislike count on videos again !!! lol
Omg soo helpful! I am new to all of this so I am grateful for this video. ❤ I love it when you showed examples of what you did and comparison of the numbers. Most importantly, listing the todo steps. Thank you so much.
Great video. Simple and concise. I just saved increased all my liabilities while saving money. Thank you!
Excellent! She proved that you don't have to be a licensed insurance consultant, agent or broker to make sense.
Im 18, just bought a car. Where should i start?
Video is very informative :)
You should start by figuring out how much car insurance you need. Just follow the steps in this video! LMK how much your premium is and what kind of car you drive.
I'm 20 and moved to a new state(Texas) from another(Florida). License requirements here and probably elsewhere need you to have in-state insurance and since I just got a new car here a month ago, I feel like I'm gonna need to buy my first car insurance plan on my own, so this video definitely helps.
Thank you so much! This was a great and helpful video to understand how to shop around for the best insurance rates 👍
Boy, I am still confused about auto insurance but I have subscribed to learn more on this and other financial matters.
Glad you subscribed! Let me know what else you are confused about. Happy to help.
@@DebtFreeMillennials Insurance plans are so complicated that its not easy to decide which option is the right one.
This was very helpful. I watched it twice. Thank You for making insurance terminology more understandable.
Great video for Intro to Car Insurance!! Thanks so much for this! Well done :)
Thank you for the advice! I ended up saving $960/year. Shopping around and decreasing the deductible really helps.
Holy crap!! That’s amazing!
I thought you're suppose to increase the deductible?
These are dream rates. I know this was 4 years ago, but I really want to know where I can live to get rates like this. 😂
Thank you. I've been driving without insurance for a while because I just didn't understand it at all. Thanks for explaining it for us!
Can you speak about Medical Payments Coverage Limits, Uninsured Motorists Coverage Liability, and Uninsured Motorists Property Damage Coverage options?
This video was incredibly insightful and gave me an excellent start to looking for auto insurance.
Buying my first car in the United States! This was so helpful. Thank you !
Very helpful and clear. Thank you and you've taught me well. Bless you'll always. 😉
Excellent video. I like that you included a summary at the end. Thank you!
You're very welcome!
FANTASTIC video! Thorough & clear breakdown. VERY beneficial!
THANK YOU!!!
Basically that $1000 deductible is telling the insurance company you are willing to fix minor fender benders out of your own pocket. Get a $100 deductible and your telling them your gonna call them for a parking lot door dent 😂
OMG yes that's so true!!
Great video! Never knew this stuff. Literally searched “how to pick car insurance” and you popped up. Thank you!
Although your explanation on how coverage works is correct and you made it very easy to understand. I can tell you are not a licensed agent. Especially with Progressive Insurance there is a lot in the back ground when rating a client. For example: credit and claims. Plus an Insurance score which is similar to credit but just based on your personal insurance. These are all factors when rating (your policy premium) Also, different states have different requirements as well as liability limits. In Progressive (only because you used them as an example) a lot of times when you increase your limits of liability this will decrease your policy. Maybe only a little bit but it's still a savings with better coverage. It shows the underwriter (the person that you don't see that rates you) that you are a responsible driver. When shopping around every 6 months or when your policy renews actually can hurt you. It shows other companies that you are not loyal and can increase your policy. A lot of times you lose out on huge discounts when you move around your Insurance. With this all being said having an agent that works with multiple companies is much better than getting Insurance online. An agent is your voice that you can not be in the event that there is an accident. They can guilde you in the best way and save you the most money they will also shop your Insurance around for you so you don't have to do all that work and it's free.
No, I am not a licensed car insurance agent. This video was created as an educational resource to help people understand car insurance.
Great reply and points, Clair. Yes, changing carriers often can actually affect the rate. Yes - work with your local, independent agent! An independent has the ability to rate different carriers and find the one that fits your current needs and budget. :-)
I asked State Farm about switching my monthly payment to annual or biannual and it would have only saved $1 per month. It wasn't worth it to me. Actually, the older our cars get the less they cost to insure and register. While comprehensive will cover damages to your car if broken into, it will not cover the items stolen. That usually goes under your homeowners insurance policy. When we got broken into it just didn't make sense to put in the claim as the loss was lower than the deductible. I work for a police department and you would not believe the things people leave in their cars and then those items get stolen.
Wow, good to know! Yeah I was actually looking at my old State Farm insurance with my '02 Ford ZX2 and I don't think I had a discount for paying the six month premium but it never hurts to look and I'm glad you looked into it!
your videos have been the only ones to make any sense to me. you helped so much, thank you!
Totally understand and will try these steps thank you.
The funny thing is that over your lifetime you will receive only about 10-15% in claims vs the total you have payed. The problem is that most Americans never have enough saved to pay when an accident happens. So basically you have a lifetime loan with the insurance companies that you can't get out of
Thank you! You broke it down easy to understand. :)
Very helpful video, a lot of details but necessary and Yes helpful! 😊
This video is so helpful 😍🙏 It made choosing car insurance much easier!
Great video, its very informative and i already applied what you're talking in the video to save 150 on my insurance. Thank you for the help
Oh yay!! Wow, that is awesome! I'm so glad to hear you are saving $150. That seriously made my day!
@@DebtFreeMillennials thank you again
Great presentation. Thank you. It feels better to pay a lower deductible when you get into an accident or if you run your car into the side of your garage. For the lower premium, it's a gamble of how often you think you might need to file a claim that's your fault and have to pay the deductible. How does collision work? You didn't talk much about that besides defining it.
It’s not a gamble if you have enough in your emergency fund to pay your deductible. Also, think about your own situation. How often do you file claims? I haven’t filed one since 2012.
Collision insurance covers the repair costs of YOUR vehicle if you are involved in an accident, no matter whose fault it is. Liability insurance does not cover damage to your car unless the other driver is at fault and they have enough to cover the damages to your car. Does this help?
some decent advise to be had here, but there are a couple of additional things that people should keep in mind. for liability, raising your limits can have a severe impact on your price depending on your driving history, age, where you live, what car you drive, and a lot of other factors. if a risky driver wants more coverage, his cost will go up more than a safe driver with no accidents. raising deductibles is a good way to save, but remember that by having $1000 deductibles, you are taking responsibility for any damages that don't exceed $1000. if you live in a state where it hails a lot or has a lot of deer, you might save money by lowering your deductibles. in your example, lowering your comp deductible would cost about $8 a month, but could potentially save you $900 if you needed to make a comprehensive claim. in fact, you would need to go about nine years without a comp claim before you saved more than the lower deductible would if you needed to make a claim.
also make sure you check with your bank or vehicle financier if you have a loan, because sometimes $500 is the highest deductible they will let you have.
Hey there thanks for sharing! Agreed, it does depend on where you live for sure! I found that maxing out my liability had very little change to my overall premium cost and I want the most coverage I can get on liability. And raising the deductible only works IF you have the cash set aside in an emergency fund to cover it.
Advice for everyone: set your comprehensive deductible to $50-200, it will raise your premium only like $20-$30 max. But when your windshield cracks from rocks on road you will only pay $50
This is an absolutely amazing video! Thank you so much for this! I was so annoyed trying to figure this stuff out so I’m glad to have someone’s input who knows what they are talking about.
It was very helpful, thank you
Thank you! For the info Now I have an idea of how much of a difference the amount of deductible it makes. You explain it better than my own license agent did.
Your video was very clear. Easy to follow. Good that you summarized the key point after each section and at the end. You made a good job at making it simple. Thx
Glad you enjoyed it!
Extremely helpful! Thank you!!
Thank you thank thank you...
I've spent the better part of today trying to figure out a strategy..you educated me in 15 minutes!
Glad it helped!
I’m an ins broker. This was a good video, except, you could elect $500,000 Combined Single Limit. This is actually much better coverage.
Wot you just say M8?