Tips for obtaining a car insurance policy when you have bad credit.
• Improving your Credit
• Tricks for lowering monthly premiums
• What affects your credit score the most
Getting car insurance with a credit score or a history of frequent accidents can be quite a challenge. If your credit score has been affected in the recent depression like many have, or just have made some bad decisions, then it will be a bit more difficult for you to get a policy. However, there are many things you can do to help lower your premiums and increase the chance that you will get one.
There are many tricks for lowering your car insurance monthly man individual employee these tricks honestly. However, many do not. One frequently used trick is to claim you drive less than you actually do. In order for you to do this you have to generally claim somewhere around the actual number, if you told them your annual mileage is 20 each year but your speedometer is at 20,000, they know you're not telling the truth. Another thing that you can do is to get a co-signer who puts your car on his or her car insurance policy, because they have a better track record be that tax, credit score, car accident record.
This can be a more difficult thing to accomplish because the vehicle is registered in your name, in order to do this properly you will have to sell the car to your relative. When doing this your relative has to put your name anyone that is driving the car on the insurance policy. This is often times one of the best things that you can do if you do not want to pay $300-$500 more for car insurance and get it right now. Another thing you can do which sometimes times can take more time is to improve your credit score.
This can be done by taking out loans on the small things like a tractor or something that you can pay off quickly and easily. As long as you pay off the loan sooner than the money is due, by successfully this it will raise your credit score. Another thing that you can do is to make sure that all of your credit cards get paid on time and in full. By far the most important loan to pay off is your house, there many individuals today that have had a bad credit card history but still have great credit scores because they paid off the bigger loans (house).
Another thing you can do to affect your premiums if you have a bad track record is to apply for something called voluntary excess. This is where you agree to pay them a higher premium if you should get into an accident, but it allows you to keep your monthly is lower. You can work on improving your credit score at the same time as getting car insurance and simply wait for your credit to go up, which will allow you to pay less next year.