In the state of North Carolina, drivers with currently registered vehicles are required to have car insurance. Unfortunately, driving without insurance is considered a Class 1 misdemeanor.
That means uninsured drivers could face probation or even imprisonment. By all accounts, it’s not worth the risk to hit the road without an active insurance policy.
Where does this leave drivers who can’t afford car insurance? If your car insurance premium is out of your budget, it’s time to reassess.
Read on to learn what to do if you can’t afford your car insurance.
Negotiate Your Current Policy
If you are currently insured but find it difficult to keep up with your monthly payments, start by contacting your insurance company. Some insurance companies may offer discounts for drivers with clean records, but you often have to ask for them.
If there are no discounts on the table, discuss options like reducing your coverage or increasing your deductible. You may be able to negotiate a lower monthly premium in exchange for a higher deductible. While this can make covering an accident difficult, it may be worth it if it keeps you insured in the meantime.
Seek a New Policy
How much did you shop around when you picked your current or most recent insurance policy? Many drivers end up selecting the first or second policy they come across and miss out on policies with great coverage and lower premiums.
This is where Tom Needham Insurance Agency comes in. We can provide you with accurate car insurance comparisons to help you find policies that meet your needs. We work independently of all North Carolina insurance providers, which means that our only goal is to help you, not sell you a policy that benefits us.
Take a Look at Your Finances
There are a lot of factors that could lead to higher insurance premiums and one of them is a poor credit score. If your credit history is murky, insurance companies will see you as a bigger liability and charge you more for coverage. While it can take time to improve your credit score, it’s worth pursuing to further reduce your premium in the future.
If you’re currently carrying a lot of debt, talk to a financial advisor about debt consolidation. Debt consolidation makes it easier to stay on top of your payments and reduces the interest you are paying on your various loans.
Call Tom Needham if You Can’t Afford Car Insurance
It is crucial that drivers have car insurance in North Carolina, but sometimes those car insurance premiums are hard to keep up with. If you can’t afford car insurance at your current rate, it’s time to find an alternative. Tom Needham can help.
To learn more about how we can match you with the best car insurance policy for you, contact us today. Our goal is to make sure that every North Carolinian has the coverage they need at the price they can afford.