With a number of consumers struggling with tight budgets, finding auto insurance for low income drivers can prove challenging. Driving without at least the minimum level of coverage required by law is not advisable, since it can lead to civil penalties such as drivers license and/or vehicle registration suspension. Someone who is caught driving without insurance coverage may also be required to pay fine or have other penalties imposed on him or her by the court.
Low-income drivers need to be creative about finding affordable auto insurance coverage, since their premium costs represent a higher percentage of their income then drivers in a higher tax bracket. Some states offering auto insurance programs specifically for low-income drivers. In places where this is not offered, drivers who have limited funds to spend on their insurance coverage need to be creative to get the best value for the money.
Shop Around for Best Auto Insurance Rates
All auto insurance buyers, no matter what their income level happens to be, can benefit from shopping around for coverage. Consumers have a number of options when it comes to finding companies selling coverage, and each one set its own rates that it will charge to customers.
It is a good idea to get quotes from several companies before renewing an existing policy to ensure that the renewal rate is in line with what competing auto insurance companies can offer. Drivers should make a point of starting to get quotes a couple of months before the existing policy is up for annual. They will have time to gather pricing information from different providers and study them carefully before making a decision about whether to switch companies or to stay with the existing one for another term.
Another way to auto insurance consumers can save on the cost of their coverage is to ask their existing provider whether it offers customer loyalty discounts to policyholders who have been insured with them for some time. Buying home and auto insurance from the same company is another way to qualify for a discount and keep costs down.
Insurance companies may also offer discounts to customers who have clean driving records, who keep their annual mileage low or who drive vehicles equipped with anti-theft devices. If the customer has been with a particular company for some time, the insurer may be prepared to offer discounts to keep that drivers business.
Go Online for Auto Insurance for Low Income Drivers
Shopping for auto insurance online is a good way to compare rates from several companies. A customer can shop for coverage at any time of the day or night, and many auto insurance companies offer online quotes for auto insurance coverage.
The best way to find affordable auto insurance for low income drivers is to request pricing for different levels of coverage and deductible levels. Consumers can consider buying a policy with a higher deductible to keep rates down and still comply with minimum coverage requirements.