Stretch Your Dollar: Comparing car insurance rates

Stretch Your Dollar

(WTNH)– The coronavirus pandemic has put a financial strain on many Americans but there may be opportunities to save money that you’re not taking advantage of.

We are stretching your dollar with why now may be a good time to pick up the phone.

As many families continue to work from home or keep from traveling as they normally would, the vehicle is also likely in park a lot more often and less driving has opened up new savings opportunity.

“Carriers are under enormous pressure to return back discounts,” said Snejina Zacharia.

Snejina Zacharia is the CEO of Insurify, a website that compares rates. She says if your provider hasn’t reached out to you yet to offer you a financial break it may be time to contact them.

“A lot of carriers will announce discounts on their websites, so check their websites. If you’re working with a broker, call your broker and figure out, what is my carrier doing,” said Zacharia.

You may also find you don’t need as much coverage as you have now, lowering your plan can offer savings. Just be sure you don’t pull the plug all together. You don’t want a gap in your coverage.

“That will end up being penalties, as well as future thousands of dollars of higher premiums that they’ll have to pay over the years, just because of that gap of coverage,” said Zacharia.

Now may also be a good time to switch providers. She says you may find smaller carriers are under more pressure to offer you a better deal.

Insurify actually compared rates to see which insurance companies have been the most generous with refunds or financial breaks. Erie, Liberty Mutual, Allstate and The Hartford are on there.

For more details, click here.

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