P.J. Miller
With fewer drivers on the road due to COVID-19, fewer accidents are taking place. Fewer accident claims could mean lower premiums for you. Even with those savings, you may be wondering if you can suspend your car insurance during the COVID-19 pandemic if you're not driving.
Partner P.J. Miller doesn't recommend consumers suspend their coverage because there are various reasons why it might cost policyholders more money in the long run.
"If you suspend your insurance, you won't have coverage for non-driving related losses such as theft or vandalism," said P.J. "Additionally, if you want to reinstate your coverage at any time, your future rates could increase due to the coverage lapse."
If you are in a position to suspend your auto insurance, call your auto insurer to learn if this option is offered and if it would save money in the long run. You may be better off getting rid of the vehicle if you can't afford to insure it.
Read the full article to learn other ways you can save money on car insurance.
Questions about lowering your car insurance premium? Contact Wallace & Turner at (937) 324-8492 in Springfield, (937) 652-8492 in Urbana, or info@wtins.com.