Finding Cheap Car Insurance After Making A Major Claim
No driver wants to make an auto insurance claim but, unfortunately, accidents, car theft and other events can mean a major claim and major increases in a driver's auto insurance rates. It can be extremely hard to find cheap car insurance after any sort of claim, especially when the loss is relatively large or when the insurance policy holder is at fault in an accident.
After a driver has opened up a large claim, every auto insurance quote that the driver receives will necessarily be higher because, statistically, the chances of a second claim are very high. Insurance companies can't afford to offer cheap policies to drivers that they consider to be high risks. However, there are still ways to keep costs down and to avoid overpaying. For instance, drivers can look into insurance discount programs which often provide significant discounts for drivers who complete basic state-approved driving classes. Discounts are also available for drivers who fall into certain low-risk groups. Homeowners, good students and married people will often see lower-than-average rates, for instance, and adding a few of these discounts onto a standard car insurance policy will significantly decrease insurance premiums and allow for a much more affordable policy. There might even be discounts for drivers who pay for their policies via certain methods. For instance, most insurance companies offer a discount for drivers who pay in bi-annual installments rather than through monthly premiums. Drivers should ask their insurance providers for a list of discounts.
If a major car insurance claim has completely totaled a driver's primary vehicle, upgrading to a safer vehicle may help to offset an increase in auto insurance premiums. Vehicle choice can significantly affect insurance rates, and by choosing a safe vehicle with a low incidence of theft and comparing insurance quotes for a few vehicles before buying, drivers can get peace of mind on the road while keeping their auto insurance rates in check.
Drivers can also cut coverage to get cheap car insurance, but this can be dangerous. A cheap car insurance policy isn't very valuable if it doesn't offer any coverage. Still, there are some drivers who can benefit from coverage cuts. For instance, if a major accident causes a driver to miss work for a few months, he or she might decide to significantly scale back coverage during this time, since the driver will be operating the covered vehicle less frequently. Drivers might also decide to raise deductibles or drop add-on coverages to keep insurance rates down to an affordable level. By checking coverage, comparing rates and looking into discounts, drivers can keep their insurance costs low after a claim of any size.