Keep Your Car Insurance Rates Down-

Unless your car insurance rates were based on your occupation, they won’t be affected by lay-off, termination or resignation. While your rates may not be affected by unemployment, your income certainly will be. It makes sense for you to look for ways to save on your auto insurance when you stop working. Here are five ways that you can save money on your car insurance premiums while you are unemployed:

Park the Car

Now that you won’t have to commute back and forth to work, it may make sense for you to park the car in the driveway and let it sit. If you have two cars, consider only using one and removing the insurance on the other. Talk to your insurance agent and see what can be done about lowering your insurance by not driving one of your vehicles. Depending on the laws of your state or the conditions of your loan contract, you may be able to drop some or all of your coverage on one of your vehicles.

Low-Mileage Discount

Now that you won’t be driving as frequently, speak with your insurance agent about a low-mileage discount. If you had a long commute to work, chances are that you didn’t qualify for this discount while you were employed. Now that you won’t be driving as much, if at all, you may be able to save a significant amount on your premiums.

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