A guide on how to get cheap car insurance during the covid-19 pandemic

During the Covid-19 pandemic, financial security must be your greatest worry. Starting from a low flow of income to staying indoors, thinking of how to secure finances is a priority. The truth is many activities have come to a standstill after the onset of the Covid-19 pandemic. And most individuals are figuring out how to recover some of their invested funds. With fewer activities taking place, you must be wondering about getting cheaper car insurance.

A recent survey indicated that about 36.5 million people registered for unemployment in the past two weeks. More so, 6 out of 10 people are worried about clearing their debts. And of course, getting cheaper car insurance is a common choice.

With many cars parked in the driveway and people staying at home, cheap insurance cost is a primary need of individuals. You might be thinking of canceling your insurance agreement. But it is not the best option since It will expose you to grievous damages.

Calling your insurance firm for financial relief can be a good idea. Many insurance industries are paying their clients some of the insurance funds. The best insurance firm will take you through the best options for planning your budget. There are many options to explore, which include:

1. Extended Grace Periods

One of the ways to get cheap insurance is by requesting an extension on the grace period
You can request for an extension on your grace period to ensure bills don’t pile up

If you miss a car insurance payment, the insurance firm can extend the policy for about ten days. Most insurance industries have an extended period of more than 60 days. And they cannot revoke the insurance for non-payment.

Note: If you use an extended grace period or fail to make payments, your bills will accumulate.

2. Waiving Penalties and Late Fees

You can ask your insurance firm to waive fees or penalties. The latter is applicable if you miss an auto insurance payment.

3. Request for a Payment Scheme

Many insurance companies are now urging clients to request a payment plan. If you need financial relief, you can contact them for a payment plan.

4. Requests for an Extended Delivery Coverage

If you are using your car for deliveries such as selling fruits and vegetables, you need to make extra payments. But most insurance industries have done away with the restrictions. Meaning you can request for extended delivery coverage.

While the payment options may seem exhausted, you don’t have to worry. Many insurers are availing different car insurance refunds.

5. Discounts

One of the best ways of saving money is through car insurance discounts. If you qualify for new ones, you will have to contact your insurance firm and request for them. Here are some of the cuts to check out;

1. Multi-policy Discount

The discount is applicable where you have picked a car insurance policy, including other kinds of systems in the same firm. Such methods include renters, homeowners, life insurance, or condo: These discounts rate at 5 to 25 percent. They count among the most significant discounts you can have.

  2. Multi-car Discount

Having more than one car insured under the same firm will expose you to multi-car insurance. They are at 8 to 25 percent.

   3. Safety car Discounts

Such discounts are suitable for safety gadgets such as airbags, antilock brakes, and daytime running lights. The refunds can cover as much as 40 percent of your medical bills.

4. Anti-Theft Discount

To get cheap car insurance, you can research on which discounts you qualify for
You can get up to 25% discounts if you qualify for anti-theft discount

Around 5 to 25 percent of your comprehensive auto insurance can be knocked off if you qualify for the discounts. The discounts arise if you have antitheft features.

    5. Good Driver Discounts

If you have not run into any accidents or any other violations, you qualify for good driver discounts. They range from 10 to 40 percent.

With this in mind you also need to understand that;

  • Discounts depend on the state and type of insurance firm
  • Your discounts can be capped
  • You might not get automatic discounts

6. Request for a High Deductible Plan

A high deductible plan is a payment you take out of pocket for a comprehensive insurance claim or Collision. For instance, you can have $2000 in damage from policy and $500 deductible. Your insurance firm will cater for $1500. Deductible payments start from $100 to $2000.

7. Drop Optional coverage

With an old vehicle, you might think of dropping coverage such as comprehensive insurance and Collision. A good rule of thumb is to evaluate how much you are paying for the protection and your car`s` value. You can receive the maximum insurance payout from the value of the vehicle. The latter is applicable if it’s totaled.

8. Suspending car Insurance

If you are not using your car anymore, suspending the insurance coverage is a good option. Suspending the insurance is a temporary plan. A good example is a person who is on military deployment. They might not want to use the third car. In the long run, suspending liability coverage and Collision will be favorable. However, it is advisable to contact the company for this option. Others may not allow you to suspend your insurance since a stay at home order is different.

If you are looking for the most viable way to get cheaper car insurance discounts during the Covid 19 pandemic, no need to fret; You can exploit the mentioned options for more affordable costs.

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