[ad_1]
There is not a single state in the United States that allows you to drive without auto insurance. These policies give you the peace of mind that medical bills and expensive repairs will be covered after a crash. Comprehensive coverage covering vehicle theft and deer related accidents is recommended in addition to the minimum required insurance.
Of course, having multiple auto insurance policies will increase your monthly premium. Here are some ways to save on insurance premiums. Updating your policies early is one of the easiest ways.
What happens if you don’t have auto insurance?
If you are caught driving without car insurance, the first fine will likely be no less than $100. Also, if you cannot submit your insurance card after a few days, your license may be suspended. In some states, vehicles can also be seized after a stop.
Repeat offenses or serious accidents without insurance can lead to jail time. Judges can fine you and suspend your license for up to two years for even a minor accident. Other drivers can also sue you for vehicle damage and medical bills.
It is advisable to renew your car insurance as soon as possible.
Some drivers unknowingly drive without insurance simply because they forgot to renew their insurance. As such, Allstate says it should continue its policy as soon as possible. Also, many auto insurance companies offer discounts for renewing your policy early.
For Allstate, sign up a week in advance and get a 10% discount on your monthly premium. Most auto insurance companies also offer discount rates if you pay your premium semi-annually instead of monthly.
Other ways to save on car insurance
In the same way that insurance premiums go up after an accident, having a clean driving record can save you money. Many companies, like Progressive, allow drivers to participate in telematics-based driving programs and receive insurance discounts. If you choose to register, a device will be installed in your car that monitors your driving habits.
If you obey the speed limit and avoid sudden braking and acceleration, your premium will be discounted. These programs are not permanent and most programs end after 6 months. Discount amounts vary by program, but Progressive says most Snapshot drivers save $156 off their policy.
Auto insurance companies also offer discounts if certain safety features are installed. More standard driving aids protect the vehicle and reduce liability.
These include features that come standard on many modern cars, such as backup cameras and forward collision warning. Airbags and ABS braking systems are also eligible for discounts, even if the car is decades old.
Drivers who install anti-theft devices in their cars can also benefit from cheaper car insurance. GPS trackers are even more attractive to insurance companies. Usually, if you have comprehensive coverage, your insurance company will have to replace your car if it is stolen. If the vehicle can be recovered thanks to GPS coordinates, the insurance company should only cover theft-related damage.
If your insurance company offers home insurance or life insurance, ask them to bundle those policies with your auto insurance purchase. Most providers offer discounts for getting multiple policies at once.
Insurance companies often charge higher premiums for these policyholders because young drivers are inexperienced. Students can offset these costs by maintaining good grades.
Auto insurance payments can be a burden on top of auto loan payments and regular maintenance. So every little discount helps. Most of them can be enjoyed by any driver.
RELATED: 5 Reasons Auto Insurance Prices Are Rising
[ad_2]
Source link
