If you're having trouble making your car insurance payments, here are some ways to reduce costs:
If your car has anti-theft features, you could get anywhere from about 5% to 25% knocked off yourIf you haven’t had any incidents, like car accidents or moving violations, your car insurance company is likely to reward your safe driving skills. These discounts can range around 10% to 40%.Your job and other associations could get you a discount. For example, law enforcement professionals, members of state bar associations and educators may get special savings.
A good rule of thumb is to look at how much you’re paying for these coverage types compared to the value of your car. The maximum insurance payout you can get is the value of your car if it’s totaled. Even if you’re not required to carry these coverage types, it’s a good idea to ask yourself if you could afford to pay out-of-pocket to repair your vehicle or buy a new one if your current car is totaled. If you can’t, it’s probably better to keep these coverage types rather than regretting it later. Suspending car insurance typically refers to temporarily removing coverage.
If your car insurance company does allow you to suspend coverage, think twice. If you suspend your collision coverage or lower yourto only the state-required minimum, you could expose yourself to costly expenses like car repair bills or medical expenses if you injure someone in a car accident.
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