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Sayoni

Saving car insurance costs during Covid-19

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Hey Guys,

I hope you all are doing well and are taking care of your health.
It has been so many months that I am not taking my car outside due to the Covid-19 lockdown. Post lockdown, I rarely use my car as its need wasn't there. I prefer walking to the market, and my workshop as it is near to my house. Last November, I had purchased an auto insurance policy from this company in Oshawa. I thought about why I have to lose my money for paying insurance premiums when I am not using my car due to this lockdown. Even though the lockdown restrictions were eased, I believe it is safe to stay indoors. When I searched online, I saw many articles on how to save auto insurance costs during Covid-19. Is it possible to temporarily suspend my car insurance coverage? Are there any other ways to keep insurance costs down during these times? Is cancelling an auto insurance policy without completing one year a bad idea? Can someone advise me on this?

Thanks!

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On 7/14/2020 at 4:51 AM, Sayoni said:

Hey Guys,

I hope you all are doing well and are taking care of your health.
It has been so many months that I am not taking my car outside due to the Covid-19 lockdown. Post lockdown, I rarely use my car as its need wasn't there. I prefer walking to the market, and my workshop as it is near to my house. Last November, I had purchased an auto insurance policy from this company in Oshawa best car wax brand. I thought about why I have to lose my money for paying insurance premiums when I am not using my car due to this lockdown. Even though the lockdown restrictions were eased, I believe it is safe to stay indoors. When I searched online, I saw many articles on how to save auto insurance costs during Covid-19. Is it possible to temporarily suspend my car insurance coverage? Are there any other ways to keep insurance costs down during these times? Is cancelling an auto insurance policy without completing one year a bad idea? Can someone advise me on this?

Thanks!

If you don't have the money to pay for your insurance, you have the option of allowing the policy to lapse. When your payment isn't received, the insurance company will suspend or cancel your policy due to nonpayment

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I think it can cause financial backlash in the long run if you cancel your insurance, so I would not recommend it. I think the better option is to ask them directly if they can help with the costs and waiving late fees. A lot of insurance companies are taking steps to help customers since a lot of people are staying indoors and not driving their cars. Ask about grace periods or discounts. Some companies will help you in this time of need.

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