Insurance coverage is mandatory for all car drivers and owners. As a driver, one is required to have insurance in case of an accident. The insurance provider’s primary coverage is vehicle insurance, so premium rates are increased depending on the inclusions. Car insurance covers things that can go wrong, such as car accidents, fires, or theft. Insurance may also cover the risk of not having enough money to pay the claim if you’re at fault in an accident.
Car insurance is a piece of cake for those who have a perfect driving record and have never filed a claim. Check mark these two things and you are good to go, but we all know that this is quite a check list! Dealing with car insurance companies can become a headache for the simpleton. Even if you are pretty nifty in dealing with your insurance company and earning those driving credits, these tips can help you save some extra money and make your life just a little bit easier!
1. Avoid A Lapse In Coverage
Most car owners covered by insurance can have their car repaired even if another driver’s fault caused the accident. In this way, you can have peace of mind that your vehicle can be replaced or restored even if the other party’s not willing to settle. But, insurance premiums isn’t exactly cheap either. You must know this thing that you cannot play around with your insurance company on the matter of money. Auto-insurance companies are very unforgiving when it comes to non-payment, and they may charge you late fees or suspend your policy as a result of a lapse of even a couple of days.
The silver lining is that you must be more punctual. You can use the insurance company apps to keep track of the payment dates. Some insurers do offer a grace period for late payments but call your company to make sure that you are properly covered for that period.
2. Pay Your Entire Premium Upfront
If your insurance company is cold hearted and threatens to cancel your insurance for even a day late payment, then you may want to consider paying your entire 6 or 12 months premium upfront. You can avoid the hassle of keeping track of the dues after every month. Moreover, it will save that processing fees every time you use your credit card for the payment.
If paying upfront is an issue for you due to budget constraints, try to look for other ways to get a discount. If you want to save on car insurance premiums, you should ask your agent if there are any deals promotions that you can avail of. You can also compare rates on insurance price comparison websites like QuoteYeti.com and other reputable providers. Due to the ongoing pandemic, insurance companies understand vehicle owners won’t be traveling as they used to, which means you may score a special rate if you ask. Your agent should be more than happy to inform you of any discounts they have available from the insurance company.
3. Maintain Good Grades
You might not be able to buy your kids’ insurance until they are 18 (depending on the state policy), but you can make sure that they are good and law abiding kids with good grades. If your teenager is a high school or college student having a decent transcript, then this may qualify them for a good student discount once they get eligible for the policy.
4. Be Careful When Switching Insurance Policies If You Have SR-22
You will probably need your insurance company to file an SR-22 form on your behalf in case you are caught driving without a valid insurance plan. If you want to switch insurers while having an SR-22 filed, it’s important that you purchase a new policy before canceling your existing plan. This is because any further lapse in the coverage may disrupt your SR-22 status, and probably your driving status altogether. Most insurers won’t give you credit for the time after your SR-22 was originally filed, and it may cost you even more money!
Have any more tips on saving money on car insurance? Comment below!