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Can't Afford Car Insurance? Here Are Some Options
3 Oct 2018

Can’t Afford Car Insurance? Here Are Some Options You Have

Car insurance is a must in most states. However, you may be finding it difficult to afford your car insurance. If this is the case, then you are not alone. Car insurance can get expensive, but it is a must.

In 2015, there were 1,715,000 injuries caused by motor vehicle accidents. With numbers like those, it is easy to see why insurance is a must-have.

If you can’t afford car insurance, then there are solutions out there. Here are a few of your best options.

1. Don’t Keep Silent If You Can’t Afford Car Insurance

If you are having trouble paying your car insurance, then the best thing you can do is tell your provider. If you just need some time to come up with payments let them know.

They may let you have a payment holiday for a month or you may be able to work out another solution. Go to different lenders or banks and find out about installment loans vs. payday loans, you may qualify.

2. Get Less Coverage

While less coverage is never the best option, if you are paying more than the minimum rate then you can ask for the extra to be removed.

Most states have a minimum liability rate for car insurance. It is usually risky to pay this rate because many of them were set decades ago when costs were lower.

What this means, is that, if you get into an accident you could end up paying a lot of money. This is the drawback. However, if you pay the minimum rate, you will legally have insurance and be able to drive.

3. Check If You Are Getting The Best Deal

Your premium can vary based on who you use as your provider. Make sure that you are getting the best deal by shopping around.

You can also get a company to do a comparison check for you. You may be surprised at how much the price will vary from company to company.

4. Get Discounts

Most insurance companies offer a myriad of discounts, many of which you will probably qualify for. Here is a rundown of some of the types of discounts they may offer:

  • You can get a defensive driving discount by taking a defensive driving course
  • Get an equipment discount based on safety equipment added to your car
  • Get a discount for being a good student.
  • Good driver discounts are sometimes available if you don’t get tickets
  • Occupation discounts are often given

These are just a few of the discounts available. Ask your insurance provider directly. You may potentially save a lot of money.

Final Thoughts

If you can’t afford car insurance then don’t be silent about it. Tell your provider what is happening and ask if discounts are available. If you can pay the minimum liability coverage then pay it until you can afford more. The key is to communicate and always shop around for the best deals.

If you would like more information on car insurance please visit our blog. We have all the information you need to help you get the best insurance coverage possible.