How Covid-19 Might Affect Your Auto Insurance

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How Covid-19 Might Affect Your Auto Insurance
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• As with some other types of insurance, Covid-19
  wont necessarily have an impact upon your auto
  policy, but you might find yourself struggling to
  keep up with the payments. If this is the case
  for you, there are a couple of things you can do
  to ease the financial burden, and one thing you
  mustnt do
• Do NOT cancel your auto coverage
• Unless you plan on giving up your car, you should
  hold on to your insurance coverage, as simply
  cancelling it can have several implications
• You will not be covered for any losses
• Auto insurance is a legal requirement of most
  states before you can drive
• You could face higher premiums if you have a gap
  in your coverage

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• Often, you will incur a cancellation fee or other
  associated costs
• Increasing your deductible might be an option
• By increasing your deductible the amount of
  money you agree to pay out before coverage kicks
  in you may be able to reduce your premium.
  However, youll need to assess the risk
  associated with doing so, by balancing out your
  need to reduce costs now, with the potential cost
  should you have an incident involving your car.

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• Lowering your liability
• While this will make a smaller difference to your
  monthly premium than increasing your deductible,
  it could be an option if you really need to be
  mindful of costs currently.
• Changing to a usage-based plan
• Many of us are driving a lot less under the
  current circumstances, making switching to a
  usage-based policy, a potentially smart move.
  This type of coverage depends upon driving data
  usually gathered from apps on smartphones, to
  assess how much youll need to pay for your
  coverage.

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• If youre considering making any changes to your
  auto insurance, its strongly recommended that
  you speak to your provider before taking any
  action.
• How will Covid-19 affect insurance claims?
• A lot will depend upon each individual insurance
  provider and how theyre currently managing their
  claims. Since offices have been forced to close,
  all claims are being processed digitally, and if
  your chosen provider doesnt have the latest tech
  to cope with this change to proceedings, then
  claims could take considerably longer than usual.

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• What if you cant afford to pay your auto
  insurance?
• This may well be a common problem, at least until
  the current situation changes and more of us can
  get back to work, and while it of course isnt
  good news for auto insurance companies, it might
  be an unavoidable reality for their customers. As
  is the advice for anyone experiencing issues with
  their insurance - and for any reason - call up
  your insurer and talk to them directly to see if
  a solution is available.
• Since this situation is out of all our hands,
  its important that customers continue to
  communicate with their insurers and that both
  parties work together to find solutions wherever
  possible.

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• And no matter how tempting it may be, do NOT
  simply cancel your auto insurance policy, as this
  could leave you dangerously unprotected.
• We Insure Miami was founded on the principle that
  every individual and business, big and small, has
  assets and valuables that need to be protected
  and insured against forces outside of our
  control. We offer Auto, business and homeowners
  insurance in miami FL. Our agents understand that
  you work hard every day to protect your car,
  home, business and family. WE are passionate
  about Insurance and passionate about serving you.
  If you are looking for home or business or auto
  insurance in miami FL, contact us for a quote or
  a complimentary review of your insurance policies.