Car insurance is not only a good investment that takes care of unforeseen circumstances like auto accidents. It’s also a legal requirement in many states. Paying a premium for insurance provides you with the peace of mind that a system is already in place to handle the payment for medical bills, legal fees, and car repairs in the event of an accident. There are ways that you can avoid lapses in your insurance coverage, including taking the time to get car insurance quotes maryland that are right for you.
Here are 12 ways to avoid a lapse in your car insurance.
- Shop around
Don’t be shy to browse through several car insurance quotes Maryland to determine if the premium on the policy is something you can afford and fits in your budget.
- Reduce your premium
If you encounter a sudden loss of income and you know you can’t pay the original premium, talk to your provider if they can lower the amount or reduce the coverage so that you can meet the state-required minimums.
- Get bundled insurance policy
Explore all the options being offered by companies. One way to get lower car insurance quotes Maryland is if you sign up for bundled insurance.
- Safe is better
Insurance companies calculate risks in almost all of their transactions. You can get lower car insurance quotes Maryland if you maintain a clean driving record free from accidents or traffic violations. You can also expect lower premiums if your car is kept in good condition.
- Set a budget
Once you’ve settled on car insurance quotes Maryland and have accepted a policy, set aside a budget every month. This way, you won’t end up overspending on other items and lapse on your auto insurance.
- Set a reminder
If you’re always on a tight schedule and are forgetful about paying bills, set a reminder on your phone calendar or put a memo on the fridge. This way, you’re reminded to pay your premiums on time.
- Set up an automatic payment scheme
Some banks offer automatic deductions, so your payments are always on time. This way, even if you forget because of a busy workday, your insurance won’t lapse.
- Charge it to your card
If you’re a bit tight on money for the month, charge your premium to your card instead of letting it lapse. This way, you’re still covered, and you have ample time to gather funds to pay it later.
- Piggyback on someone else’s policy
If you’re temporarily without a car, check if your family member can list you as a driver on their policy, so your insurance doesn’t lapse.
- Tie off loose ends
If you sold your car, call the insurance company so they can take notes on your policy. You might end up paying higher car insurance quotes Maryland if your insurance gets canceled due to stopped payments.
- Call if you forgot to pay
Insurance companies often have grace periods for payments. If it’s only been a day or two, they can reinstate the policy without any problems.
- Time your switch wisely
If you’re changing insurance companies, time your policy to start as soon as the old policy reaches its end. This way, you have a seamless transition and avoid a lapse.
At Insurance Brokers of Maryland, we can help you find the best coverage that you need. Contact us so we can give you the best car insurance quotes maryland today!