How To Maximize Your Auto Insurance Under COVID19

​With most workplaces and schools closing due to the Covid19 pandemic, many car owners are having to park their cars and work from home. This ultimately means fewer road accidents, thus reducing the necessity of excessive auto insurance. As such, insurance companies are being forced to give refunds to their customers and reduce their usual rates.

How Covid19 Has Changed Auto Insurance
The effects of COVID19 have reverberated across every aspect of our daily lives, and auto insurance is no exception. As such, it's important to understand your cover entails, and what changes can be made in the times we're in. with more people being restricted to working from home, the total number of cars on the roads has decreased drastically. So insurance providers have to revisit some of their covers to offer premium discounts. This looks different for various insurers, with some offering cash paybacks as percentages of monthly premiums.

How To Get The Best Deals
Ask your insurer what changes can be made to your current plan. Explore the following areas in particular when negotiating a new deal:

1. Consider Reducing Your Cover
   Since little to no driving will be happening in this period, ask your insurer about getting a refund or rate deduction to reflect your new routine. Once things go back to "normal," you can have this reverted to the old rates. You could even consider pausing your coverage for the duration you’ll be at home for  - but only if you’re guaranteed of its safety while it’s parked away. If not, just opt for decreasing the total cover.
2. Update The Direct Deposit Data 
   To prepare for the refund from your insurer, ensure that your banking information is up to date as most insurance providers are likely to deposit the money directly into your registered bank account.
3. Look Out For Extended Grace Periods
   Experts report that the usual grace period is pegged at seven days when paying one’s car insurance. However, many insurance providers are extending this period to 60 days and less strict about canceling policies that have defaulted payment. Remember, though, that your bill will keep adding up, so pay whenever you can. 
4. Explore Extended Delivery Cover
   If you are using your car to make food and goods deliveries, numerous insurance providers have opted to abandon the extra delivery insurance.

Conclusion 
If you're struggling to cover your auto insurance due to the Coronavirus, because of say, you've lost your job, consider talking to your insurer to assess what they can do for you. Various insurance providers are shifting their policies and making it more affordable, so there might be a solution to your problems. Do your research and get the dumbest deal for you! 

At Insurance Agency Network, we aim to provide comprehensive insurance policies that make your life easier. We want to help you get the insurance that fits your needs. You can get more information about our products and services by calling our agency at (425) 681-0996. Get your free quote today by CLICKING HERE.