Having to file an SR22 form in order to get vehicle insurance is known for pushing up the costs of car insurance. However, that doesn't mean that there's nothing you can do to bring costs down. Unfortunately, a lot of SR22 motorists make some common mistakes that unnecessarily bring up the costs of their insurance.
The following are six mistakes you can avoid to minimize the costs of your SR22 filing:
Paying monthly rather than in a lump sum
Insurance companies inevitably prefer to get money upfront rather than through monthly payments. If you can afford to make a lump sum payment on your insurance policy, do it.
Paying off the entire policy at once rather than making monthly payments brings down the costs of any type of insurance policy.
Neglecting to set up automatic payments
Another thing you can do to bring down the costs of an SR22 policy and any other type of policy is have automatic payments set up. Insurance companies assume that payments will be more prompt and dependable if they are set up automatically.
Setting up automatic payments using your insurance company's website can save you a significant amount of money on auto insurance each year.
Having blemishes on your credit report
You should know that your insurance provider is going to check your credit report when determining what your premium rates are. The higher your credit score, the lower your premium costs are going to be for your SR22 policy. Put some effort into cleaning up your credit to bring your premium costs down.
Insuring an expensive vehicle with collision coverage
You could save money on your SR22 insurance if you own an older and less expensive car. If you haven't had your vehicle financed and aren't making payments on it, you could also consider getting rid of collision coverage so that you have less insurance to pay for.
Neglecting to research discounts
Even if you have to get an SR22 policy, there still should be a lot of discounts out there for which you may be eligible. If you are a student, you can get a car insurance discount based on your GPA. Also, you could get a discount if you are retired or if you drive an economy vehicle.
Having a deductible that's too low
The lower your deductible is, the more your premiums are going to cost you. You should experiment with what your premium costs are going to be for various deductible amounts and go with a lower deductible if it makes your premiums much more affordable for you.
