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8 Ways to Save on Car Insurance
How to Save on Car Insurance During COVID-19
Driving a car means you need car insurance. How do you afford the premiums and can still put gas in your car? For most, the cost of car insurance is the largest monthly expense a driver will endure besides a car payment. In most cases, auto insurance can feel like another car payment. With such large costs effecting drivers, no wonder most people feel trapped. Don’t risk driving without a driving insurance policy! We at Get Insurance Pricing, have 8 helpful tricks to find lower car insurance guaranteeing your safety on the road.
1. Buy a Conventional Family Car
When you buy a family vehicle, insurance companies know family drivers tend to be cautious at the wheel. Unlike luxury vehicles and sports cars, family cars come with a more affordable insurance rate. It isn’t wrong to assume that a mini van is cheaper to insurance than a corvette!
2. Buying a Used Car
Buying a cheaper car equals cheaper car insurance! Older vehicles generally have low monthly premiums since they are lesser in value. If you are willing to have an older car, this may be the best option for you.
3. Shop Around
There are tons of insurance companies eager to receive your business. Don’t feel pressured into making a decision so quickly. Feel free to do your research and consider looking for multiple quotes across multiple companies. You may even find a cheaper quote online rather than in person or over the phone within the same company.
It is important for you to research all policies and make the choice that best fits your needs. Having this knowledge will help you make the right decision in the long run.
4. Raising Your Deductible
With the effects of COVID-19, insurance companies are willing to work with policy owners. By raising your deductible, you are willing to pay more out of pocket in the event of an accident. By raising your deductible, your vehicle will need less coverage. Also think about how much you are willing to pay out of pocket before doing this. You can save money but don’t forget the risks that face you on the road.
5. Raise Your Credit Score
Most credit scores affect your car insurance pricing. Along with other factors, your credit score helps determine your rates. With low credit scores equals large premiums.
If you know you have a low credit score, take some time to improve it before making another large purchase. Pay off some debt, make payments on time, then consider purchasing a new car. By doing this, you will save yourself money on your insurance coverage over time.
6. Bundle Your Coverage
For homeowners, bundling coverage is one of the best ways to save money without worrying about your protection. By bundling insurance policies, companies are willing to offer you a cheaper premium.
7. Ask for Discount Options
Due to COVID-19, it is important to ask what your discount options are. Don’t be afraid to ask for discounts or see what financial relief your insurance company can provide. With the current state, insurance companies have been offering discounts like safe driver, new car and multi-car discounts. These are just some of the many discounts insurance companies are creating.
Right now it is common for companies to even waive late fees, extend delivery coverage and work out payment plans.
There are also options for discounts that you would not have known about without asking. For example, signing up to receive all paperwork and bills via email can save you a small percentage. Signing up for automatic payments can also lead to discounted rates. Not all insurance providers offer these discounts but why not ask?
8. Lump Sum Payment
For those who are not able to afford a large lump sum in an event, it is important to have a lower deductable. However, if you are certain that you can afford the excess should an accident accurate, it may be worth agreeing to a higher amount in return for a lower overall rate. It is important to consider your financial circumstances when purchasing an insurance policy. This will determine what route you feel comfortable taking.
In Conclusion
While driving a car, you need to have the right protection. There is no need for anyone to overpay for coverage. With simple research and careful planning, there is no need for you to sacrifice protection due to car insurance premiums. During COVID-19 and moving forward, it is alright to ask for help. Pay the right price for your auto insurance by using the tools on GetInsurancePricing.com
