For those drivers with a low income, car insurance can be particularly burdensome. Many car insurance industry reports and statistics show that over the last few years car insurance rates have continued to increase by an average of 10% to 12% every year. While car insurance costs continue to climb, wages paid to low income workers have not kept pace.
While a couple of states like California and Washington are attempting to impose laws and regulations that will make basic car insurance more affordable for low-income drivers and families, the programs have not been in place long enough to have a considerable effect on premium prices. Moreover, because only a couple of states are enacting this type of legislation, the majority of low-income drivers across the country are either uninsured or underinsured.
Driving without car insurance is not only against the law - it is very unwise. If you're involved in a car accident and have no car insurance, you can be sued or even go to jail. So even though car insurance is expensive, you'll need to make sure that you maintain the legally required minimum levels of coverage for your state. Knowing where to find the most affordable car insurance policies can offer a little relief.
Choose Low Income Insurance Specialists
While you can purchase basic car insurance coverage from any car insurance company, there are some that specialize in policies for low-income drivers. Companies that specialize in low income car insurance policies provide only the most minimal amounts of coverage, but do attempt to make policy rates more affordable. They often require smaller down payments and may require direct debit payments from your checking or savings account in exchange for offering low rates. Here is a list of some of the most popular low income car insurance companies.
- Eastwood Insurance
- Bristol West
- Western General
- Western United
- Access General
- Carnegie General
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Other Ways to Save on Low Income Car Insurance
Just as with any other type of car insurance, the amount of money you pay for low income car insurance will depend upon your personal driving record and the type of car you need to ensure. So, by making sure that you always follow the law and traffic regulations when driving your vehicle, you can avoid costly traffic tickets that will not only cost you money in fines and penalties, but will also increase your car insurance rates.
Many insurance companies can offer low rates for the most basic types of car insurance coverage; so, you might also want to consider visiting independent car insurance agencies in your area and asking the agent about which companies provide minimal level coverage for the lowest prices. There are literally hundreds of smaller insurance companies across the country that can provide low income car insurance. Just be sure to do your research and make sure the one you choose is financially sound, and pays out on claims in the event of an accident. You can use the Internet to search for information on any car insurance company in the country.