Saving Money on Insurance

My auto insurance bill arrived a few days ago. I have insurance through Mercury because they're the cheapest. My credit union offers a service to find you the cheapest insurance, and even though I feel pretty satisfied with my rates, I decided to give them a call to do a little price comparison. I also wanted to ask about renter's insurance, because I know you can get a discount for having that too.

Turns out Mercury was still the cheapest, and adding renter's insurance will save me money! I save 15% on my auto insurance if I get the renter's insurance. For me, that's $197.07 per year. The renter's insurance is only $121 per year. So, I actually save $76 a year by adding extra insurance to my account. Nice!

I'm going to pay the car insurance on the three payment plan I've been using. Even though I'd like to pay it up front, that would mean breaking into my E-fund big time, and with the layoff possibilities, I'm not willing to do that right now. But, I am going to pay my renter's insurance in one lump sum. I'm hoping to absorb that into my May budget, and if I can't I'll just take a small amount out of my E-fund to cover it. I'll be able to replace that amount in my June paycheck.

All of these costs, plus my registration that I paid this month is slowing down my car payoff plan. :/ I definitely need to have it done by July so that I can pay it off before I have to start unemployment (worst-case scenario). I am looking for ways to stretch my various budget categories, so hopefully I can make it happen! I am SO ready to have my car paid off!