Cornerstone Insurance Agency Blog
One of the top concerns during this pandemic is financial security. More than 35 million people file for unemployment since the government ordered everyone to stay-at-home. Six out of ten people concern themselves with how to pay their bills, including auto insurance coverage.
Ask Your Insurer for Financial Relief
Since the beginning of the Coronavirus pandemic with a significant reduction in driving, several auto insurance companies took the necessary steps to help their customers. If you are in a dire financial situation, contact your insurance agent and ask if there are options for financial assistance. Some available alternatives are below.
Ask About Extensions of Grace Periods
Often, if you skip an auto insurance payment, the company that you work with can cancel your policy for up to ten days. Fortunately, insurance companies will not immediately cancel your coverage for non-payment and provide extended grace periods of up to sixty days. However, bear in mind that you will still have an accumulated bill if you skip a payment or use up your grace period.
Ask Your Insurer to Postpone your Penalties and Late Fees
If you missed paying for your auto insurance coverage, try to ask your insurer to waive them for a while.
Ask for Discounts
Discounts in auto insurance are one of the many ways to save more money, and you might even have the qualifications for some. However, you will have to continually communicate with them, especially if there are new ones you can qualify in. Standard discounts are below:
When you purchase auto insurance and other coverage - such as life, renters, homeowners, or condo insurance - from one company, you can apply for this discount. It is also often called a "bundling" discount, and can be one of the most significant deductions you can qualify for - it can reach up to 25%.
If you have two or more insured cars in your hands under one company, you can get a discount that ranges from 8% to 25%.
Only cancel your car insurance if you have tried every resort possible, and none of them give you the needed results. You could be responsible for medical expenses and property damage if you drive without coverage. Additionally, jail time and facing fines is also possible if you have no insurance.
At Cornerstone Insurance Agency, 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 (888) 661-8831. Get your free quote today by CLICKING HERE.