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If you must cancel your auto insurance:

If you absolutely can't afford to drive with auto insurance any longer, here are some alternatives:

• Record your expenses to verify where your money is going. Maybe you can afford the state minimum after all.
• Register your vehicle as inactive, and you will save on DMV fees.
• Move to a master planned community where you can walk to your bank, grocer, post office, etc.
• Invest in a bike. The invention of the wheel man!
• Order personal delivery.
• Move close to your school.
• Telecommute.
• Store your car (Empty gas, oil, cover, etc.) which will eliminate temptation to drive.
• Ask to borrow a friend or relative's car (who has insurance).

Personal story: I was about 30 and canceled the theft portion of my coverage. A month later, someone stole my Nissan pickup and it was striped completely in Chula Vista, California. Bad timing! Remember Murphy? When you cancel your insurance, I am willing to bet that shortly after that you will have a claim.

Written by Craig J. Casey

Financial Writer helping people with their insurance problems on the net since 1998.

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