INSURANCE AGENCY NETWORK Blog
The emergence of COVID-19 globally has undoubtedly altered the landscape in almost every aspect of living. It formed a never before seen crisis that seemed unprecedented, taking a toll on most states' economic status. Filing insurance claims are expected to increase over some time significantly. By putting things in a proper perspective, auto insurance has been profoundly affected by the event.
If your vehicle has insurance that is too pricey, you might have the initiative to reduce costs on your coverage wisely.
Inquire for Discounts
If you are granted a discount for your car insurance, it surely is a great relief for your financial obligations. Discounts may vary according to what you asked for. It includes a multi-policy discount, multi-car discount, car safety discount, new car discount, anti-theft discount, or good driver discount. However, it would help if you realized that refunds have limitations and may vary depending on where you live and your insurance provider.
Request for Higher Deductible
A deductible is an amount you pay coming from your savings when you seek to claim. The amount for deductibles usually ranges between $ 100 to $2000. The higher the deductible is, the lower payment will be charged to your monthly insurance premium. The bottom line is to select a deductible amount you're comfortable with.
Assess Coverages You Don't Need
It is prudent to be aware that the older the car is, its value also declines. So you might want to explore the option to let go of some of the coverages you may no longer need. Generally, most policyholders often drop their collision and comprehensive insurance from their vehicle insurance plan.
Look into Extended Delivery Coverage
In some circumstances, insurers agree to waive the additional delivery driver's insurance temporarily. It implies to those who use a vehicle to deliver their product during the quarantine period.
Check for Extended Grace Periods
The usual grace period given to policyholders to pay for auto insurance runs for seven days. Although everybody deals with the current situation, many companies extend the days for up to 60 without cutting the policy.
These are just a general overview of how to reduce your auto insurance cost in the pandemic. Consider with your consulting insurance agent or directly asking your insurer to learn more about the auto insurance implications during this period.
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.