Top Tips to Lower Your SR-22 Car Insurance Payments
Did you just get an SR-22 auto insurance policy? Dont feel like youre doomed to pay outrageous premiums! There are a few simple things you can do to lower your SR-22 car insurance payments without sacrificing the coverage you need. Here are the top tips to get your car insurance payments in check.
Shop Around. Dont just accept the first policy you come across. Shop around for other providers and make sure you compare apples to apples when youre evaluating policies. Make sure you compare the same coverage levels, deductibles, and even discounts. Youll be surprised at the differences you can find, and who knows, you might even find a policy that fits your needs and budget better than your original.
Look into Bundling. Another great way to lower your SR-22 payments is by bundling policies. Most insurance companies offer discounts when you purchase multiple policieslike home and life insurance, for examplefrom them. Its worth your time to check with your current provider and see what kind of rates theyd be willing to give you with a bundle.
Maintain a Good Record. Insurance companies take the drivers record into account when offering premiums. So, if you want to keep your rates low, its a good idea to keep your driving record clean and violation-free. Maintaining a good record and establishing trust with your provider can make a huge difference in your premiums.
Pay in Full. Insurance companies often reward full payment of the premium on an annual or semi-annual basis. Paying your premium in full can bring down your monthly payments by a significant amount, and the final cost might even be lower than if you were to pay in monthly installments.
Be Proactive. Dont wait for SR-22 to fall off your record for the rates to go down. As time passes and the driver becomes better, the insurance company may be ready to lower your premiums, so make sure to check in with them before SR-22 drops off.
Know Your Insurance Company. Get to know who youre working with. If you havent already, contact your car insurance provider and ask them what kinds of discounts or payment options they offer. Many companies are more than willing to work with you to create payments plans to fit your budget.
Go Through a Specialty Agency. Finally, if youre still having trouble finding an SR-22 policy that fits your budget, consider going through a specialty agency. These agencies specialize in insuring high-risk drivers and, more often than not, can help you find good coverage at competitive rates.
Be sure to periodically review your policy and see if there are any cost-saving options you may have missed. As long as you take the time to shop around and compare policies, you should be able to find one that fits your needs without breaking the bank.
Look into Increasing Your Deductible. The higher your deductible is, the lower your premiums will be. When weighing your options, determine which deductible youre comfortable paying if a claim is ever made and go from there.
Think Twice before Dropping Coverage. You may be tempted to drop coverage for certain items to save money, but its important to make sure youre still adequately covered. If youre unsure, talk to your insurance provider and see what they would recommend.
These are just some of the tips you can use to lower your SR-22 car insurance payments. Now, lets look at other ways to reduce costs.
Negotiate with Your Provider. Dont be afraid to pick up the phone and speak with your provider. Negotiating with them and expressing your needs could get you a lower premium, resulting in savings for you.
Understand the Coverage You Need. Do you really need all that coverage? Understand exactly what your policy covers and what it doesnt so you dont overpay for coverage you dont need.
Consider Telematics. If youre a good driver, you might want to look into telematics. This type of policy rewards you with discounts for good driving habits. Meaning, if you drive safely, you can benefit from a lower premium.
Audit Your Policy. Did you know that nearly 60 percent of insurance customers overpay? Make sure to review your policy from time to time to make sure youre not over-insuring yourself.
Tips to Keep Your Driving Record Clean. As we already mentioned, keeping your driving record clean is crucial if you want to keep your rates low. Here are a few tips to help you do just that: obey speed limits and other laws, dont drive aggressively, and dont take chances on the road.
These are just a few of the many tips and tricks you can use to lower your SR-22 car insurance payments. The important thing is to do your research, shop around and compare policies before you settle on one. And, dont forget to stay proactive and review your policies often to make sure youre not over-insuring yourself.