A lot of things have changed with the onset of the Covid-19 pandemic. Millions of people are out of work and depending on financial assistance from unemployment checks or government stimulus payments. According to a recent survey conducted by Clearcover, a car insurance company, 60% of the people questioned said they were concerned about how they’ll be able to pay their bills. Financial security has become a major concern for many.
We’re Here For You
Tom Needham Insurance, your premier Greensboro Insurance Agency, is open for business, working from home and in the office by appointment during this trying time. We realize we’re all in this together and have some great ideas on ways to help our clients save some money while also using their stay-at-home time improving their insurance coverages.
With most of the U.S. population operating under stay-at-home orders, we’re driving a lot less during the isolation orders and many of our cars have been sitting parked in the garage or out on the driveway. Some of you may be considering canceling your auto insurance coverage as a way of saving some money during these tight financial times. Don’t do it! That would be a big mistake that could leave you exposed to considerable legal and financial consequences.
Reducing Your Car Insurance Costs
If you’re having trouble paying your car insurance bill right now, your car insurance company may offer several means of assistance:
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- Extended Grace Periods – if you miss paying a car insurance payment, it’s within the insurer’s rights to cancel your coverage after seven to ten days. Many companies, however, have extended grace periods that can last up to 60 days and they won’t cancel for non-payment if asked.
- Late Fee Waiver – if you’ve already missed a payment, ask about a waiver of fees or penalties.
- Payment Plans – many insurance companies are happy to provide some financial relief by setting up a payment plan if requested.
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Money-Saving Discounts
One of the best ways to save money on your car insurance costs is through discounts, which your Greensboro Insurance Broker can explain. Some of these can provide as much as 20-25% savings on your car policy cost, and may include:
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- Multi-Car Discount
- Multi-Policy Discount
- Anti-Theft Discount
- Good Driver Discount
- Car Safety Discount
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- Contact your Greensboro Insurance Agent for information on these. Also ask about other ways to get the most bang for your insurance buck.