Can you think of one corner of your life that has not been touched by the coronavirus pandemic? Don’t worry – we’ll wait. If you’re drawing a blank, you are probably not alone. Although we are entering a brand new season, the same battle rages on, bringing with it new challenges. Among these new concerns, you may be wondering if you should change your car insurance during a pandemic.
Of all the ways in which this virus has affected our lives, it seems that the impact felt most universally has been the cloud of ambiguity that has been cast over our day-to-day and long-term plans. Among these uncertainties, you may be struggling to maintain the level of coverage you had pre-Covid-19. That’s why our Lifetime insurance experts are here to provide some insight on changing your car insurance during a pandemic!
Changing Your Car Insurance During a Pandemic
As we previously pointed out, if you’re hard-pressed to come up with an aspect of your life that has not been impacted by Covid-19, you’re probably not alone. Although to vastly varying degrees, we’ve all felt the aftershock of this pandemic in many areas of our lives, and your car insurance is likely one of them. So, it’s not a far stretch to imagive that your micar insurance coverage concerns are shared by others. So, we want to start off by addressing some of them:
1. Job Loss – What if I Can’t Afford My Premiums?
Since unemployment has swept through our nation almost as rampantly as the virus itself, we felt that concerns surrounding job loss would likely be at the forefront of your mind. If you have lost your job as a result of the pandemic and are no longer able to afford your premiums, you’re not alone. Many Americans are in the same boat. Luckily, there are some options for you to explore that won’t involve putting yourself at risk with a policy cancellation.
Don't Cancel Your Policy
Of all the ways to save on car insurance during a pandemic, cancelling your policy shouldn’t be one of them! Cancellation results in a lapse, increasing future rates. Before making this call, consult with your insurance company to discuss payment options.
Explore Your Options
In addition to your insurer offering flexible payment plans, extending grace periods, waiving late fees, and pausing cancellations, your state may have leniency guidelines for insurance companies to follow as they provide relief to customers.
2. Working Remotely – Do I Need Car Insurance Right Now?
Although you may be among the luckier folks who have not had to face job loss but who are now working remotely, you may be asking yourself: “Do I need car insurance right now?” After all, your major mileage before Covid-19 was spent on your commute. With everything else being closed on top of that, is car insurance really a necessary expense right now?
The Cost of Cancelling
While it may seem like an unnecessary expense now, car insurance is a state law requirement. Not only would driving without it be illegal, but cancellation would only result in higher premiums when you are ready to reinvest in car insurance later on.
Working from home?
Our insurance experts can help you find discounts to suit your new schedule and lifestyle.
3. Reduced Income – Where Can I Trim the Fat On My Policy?
If you haven’t completely lost your job, but your hours have been reduced due to the pandemic, you may feel like you’re hanging on by a thread. In that situation, it’s not unreasonable to begin trimming the fat on unnecessary expenses, and your car insurance policy may not make the final cut. We are not unsympathetic to your predicament, and we’re here with some good news: you can trim some of the fat without cancelling your policy. While you should always carry at least the state-required minimum, here is an option to consider.
Cutting Back On Your Coverage
One way to save on car insurance during a pandemic is switching to liability-only. Talk to your insurance specialist to see if it may behoove you to drop your comprehensive and collision to save some money.
Explore Your Options
Luckily, some insurance carriers are offering automatic coverage for delivery drivers using their personal cars for business purposes. If you’re interested in exploring options for automatic delivery driver coverage, our experts can help you shop different policies!
Covering a Career Pivot
Your personal auto policy never covers any sort of business or commercial use. Although delivery companies often do provide insurance for employees, the level of coverage most of these policies provide is limited. So, in order to ensure the most adequate protection, you’ll likely need your own insurance.
Considering a Change? Our Insurance Experts Can Help!
Now that we’ve addressed some of your most pressing car insurance coverage concerns, we are ready to help you conquer it all. We know how difficult it is to plan a future around so many uncertainties. That is why our insurance pros take an active role in your current and future planning, from top to bottom, so we can build you a custom policy, while helping you adapt to any bumps in the road along the way. Give us a call at (972) 771- 2622 or visit our site to work with our experts.
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