Few things are more important than having the right insurance coverage. About ten years ago, I was involved in a near-fatal crash where I experienced traumatic physical and emotional injuries. It was really challenging for me to endure the hospital stay and subsequent physical rehabilitation, but with the help of my medical team and my insurance company, I was able to overcome the challenge and completely recover. This blog is all about the importance of choosing the right insurance plan so that you can get on with your life and enjoy those precious years with your family and your friends.
If you have bad credit, there is a good chance that it is going to be harder for you to find reasonably priced auto insurance than for a person who has good credit. The last thing that you want to do is pay more for insurance than you do on your car payment itself each month. Here are some tips for getting auto insurance as an individual with a poor credit score.
1. Look for Companies That Don't Put As Much Weight on Credit Scores
Your first step is to actually take the time to shop around and get different estimates of insurance plans for you. There are likely a decent number of insurance companies in your area, and you want to make sure that you get as many different rate quotes that you can. You will find that some companies will consider your driving record more strongly than your credit score. This means that even if you have had to declare bankruptcy lately or done something else to damage your credit score, your impeccable driving record will help qualify you for a lower rate on auto insurance. You will only know which companies are going to put more weight on factors other than your credit score if you ask.
2. Check Out Potential Discounts
Make sure that you check out potential discounts. Many insurance companies will give you a discount if you work for a certain company or belong to specific groups. Others will give you discounts if you get good grades while you are in school. Ask for a list of all of the discounts that each insurance company offers and try to see if you can meet any of the discounts' requirements.
3. Increase Your Deductible or Put Money Down Upfront
You might be able to qualify for a lower rate if you increase your deductible. This is a good option if you rarely drive. You could also try putting more money down up front. This means that you pay for one or more of your months when you first sign up for the plan. If you commit to twelve months with an insurance company and offer to pay for a large number of those months up front, your insurance company will likely offer you a cheaper rate.
For more information, talk to a company that specializes in auto insurance. They will be able to give you specific details of ways they can help people with low credit scores.
Share13 July 2016
