Anyone who drives needs to pay for car insurance. Driving without insurance is illegal, to say nothing of the potentially huge cost of being in an accident without it. Nevertheless, no one wants to pay more than necessary for insurance. Here are NUMBER ways to significantly lower your car insurance premiums.
While credit scores and credit reports are most commonly associated with loan approvals, there’s more than just getting approved for a credit card, auto loan or mortgage that the little three-digit FICO score is used to calculate.
Avoid Making Late Payments
Late payments can not only throw your budget off balance, but can also cause your insurance premium to go up. If you’re very late, many car insurance providers will put a temporary hold or cancellation on your policy, meaning you might not have coverage during that time period. The policy will have to be re-instated once your payment has been made, and there may be late fees as well. If you are continuously late on your bill, the provider might refuse coverage in the future. This could hinder your opportunities later down the road to get affordable car insurance. It pays to pay on time!