Can I Get Cheaper Car Insurance In Washington State Through Discounts
You may qualify for money-saving discounts, such as:
- Vehicle tracking system
If you own your home, bundling your auto and homeowners insurance in Washington State can help you save money while protecting your assets. We also offer renters, boat, RV, and motorcycle insurance to residents in Washington State. You can earn a multi-policy discount when you bundle a combination of two of these policies through Progressive.
Pro tip:
Bundle & save! You can get cheaper car insurance by combining your home and auto policiesnew customers nationwide who switch and save with Progressive save over 20% on average when they bundle their home and auto.*
Getting Your Money Back
As with your right to cancel, the length of time a seller has to return your money varies with the statute. If you have received any goods prior to exercising your cancellation rights, you may also have an obligation to return the goods or make them available to the seller for pick up. Check the applicable statute for more details.
Does The New Car Insurance Grace Period Change Depending On Whether You Are Leasing Or Buying
There are several things you should do when buying a new car such as researching the car and speaking with your insurance agent. It is important to understand, also, what is required of you when you decide to go buy your new car. There will be different requirements based on your financial institution. Some will require more insurance and some will require less.
The video below will help you understand the financial differences between buying and leasing a car.
Banks, finance companies, and others may ask for additional coverages on top of the standard policy that you have. Make sure that you are informed about all of the constraints placed on your insurance coverages. How long is a new car covered on insurance? It depends.
Financial institutions may require a forced place clause. This allows the leasing company to arrange for insurance and bill you if you dont provide proof of insurance within a specified window. You may also be required to purchase gap coverage if youre financing or leasing your car. This will help cover the difference between what you owe on your vehicle and what your vehicle is worth in the event of an accident.
When it comes down to it, make sure that you are very clear on what is required of you from your lender. The Federal Trade Commission has information on how financing or leasing your car will impact your wallet. They will also be very specific about your insurance coverage. You will need to consider your options depending on your situation.
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What Are The Insurance Coverage Requirements For Financing Or Leasing Your Car
The insurance scenario will play out depending on your financing. Are you paying for the car outright or are you financing or leasing a car from an institution?
Car Insurance Requirements by Financing Method
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Typically, if you are using your own money to purchase a new vehicle you will only be required to carry some form of liability insurance by your state. You may choose to add more coverage if you wish.
If you are securing financing or leasing the vehicle from a financial institution you will probably be required to get additional coverage. The financer is likely to require you to add collision and comprehensive to help ensure the lenders risk is sufficiently covered.
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Will I Have To Pay The Deductible If The Accident Isnt My Fault
Your claim payment will always be reduced by whatever your deductible is. If there is some source for us to recover our payment and your deductible from, such as in the case where another party is at fault and is insured, we will seek reimbursement for our claim payments as well as your deductible. This process is called subrogation and often takes weeks and sometimes months to collect.
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What Happens When You Dont Pay Your Car Insurance Payment
You face cancellation and legal penalties if you cannot pay your car insurance payments and fail to work with the insurance company ahead of time to bring down costs and delay payments.
You could lose your license for being uninsured, face fines, and more. Weve outlined what happens if you dont pay and your insurance company cancels your insurance below.
Data Dont Show People Gaming Grace Periods
Insurers have pointed to a McKinsey and Company survey they say shows that most people who stop paying premiums re-enroll the next year, and have argued that this shows people are gaming the system. But the survey they highlight looks only at people who stopped paying premiums without then catching up and who either re-enroll in individual market coverage or become uninsured. It thus excludes by design both those consumers who stopped paying premiums because they became eligible for other coverage and those who used grace periods but caught up on premiums to stay covered. Its impossible to draw conclusions about grace period use based on this narrow slice of consumers.
Insurers also imply that the McKinsey data show people who have used grace periods have worse health risks than other marketplace enrollees. In fact, people who stop repaying in one year and re-enroll the next have similar health risks as other people who renew their coverage, the data show. The most significant difference between these individuals and other groups of enrollees is that theyre younger. If anything, that suggests making it harder for people to recover from periods of non-payment could end up hurting the risk pool, rather than helping it.
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What Happens If You Have A Car Accident During A Grace Period
If you have collision coverage with a provider that offers a car insurance grace period, you are covered under your other cars plan during this time.
For example, Progressive offers a 30-day grace period for new cars if you have a plan for another vehicle. If you get into an accident during these 30 days, your other cars plan will cover you up to the purchased maximums of that plan.
Keep in mind that costs on your new car could be higher than those from your old car, so its important to get your new plan rolling as soon as you can.
Finding The Cheapest Car Insurance
Whether you are insuring your first car, a used car, or a brand-new car or looking for a new policy for an old car, shopping around for a variety of monthly quotes is essential. Between stressors at the car dealership, long wait lines at the DMV, and deciding on the right coverage from the right insurance provider, dealing with a new car or an old one can cause a headache.
Once you decide on the right coverage for youâperhaps some combination of bodily injury and property damage liability insurance, home insurance bundling, personal injury protection, or something else entirelyâcompare car insurance quotes from dozens of the nationâs top providers with the Insurify car insurance comparison tool. Try it for yourself today to save big.
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How To Reinstate Canceled Auto Insurance
If you have a lapse in insurance due to non-payment, you might be able to reinstate your policy without purchasing another one.
“Contact your insurance company as quickly as possible after the due date to explain the circumstances and make your payment,” says Shrader. “You may be required to file a no-loss statement and pay a reinstatement fee, but your policy will continue with no lapse.”
Learn More About Required Auto Insurance In Washington
The required coverage and limits in Washington State are:
- Bodily injury liability coverage: $25,000 per person and $50,000 per accident
- Property damage liability coverage: $10,000
- Underinsured motorist bodily injury coverage*: $25,000 per person and $50,000 per accident
- Underinsured motorist property damage coverage*: $10,000 per accident
- Basic personal injury protection*: $10,000 per accident
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Check Out A New Quote
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How Does Your Pricing Work
Unlike other insurance companies who charge a fixed rate, our rate is broken down into two parts. The first is a low monthly base rate and the second is a per-mile rate. At the end of each monthly cycle, your bill will include the next months base rate in addition to the cost of the miles driven over the past month. The base rate is determined by a daily rate multiplied by the amount of days in each month, so shorter months will cost less. Your bill will almost always be different each month but your rates will not change within the 6-month period unless you request a change.
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When Your Payment Isnt Due Yet
What if I cant pay my car insurance this month? If you dont have enough money to pay your next insurance payment, immediately speak to your auto insurance company. It may be able to extend the due date to give you additional time to pay or allow you to make a partial payment for the month and pay the remaining balance later.
While partial payments and extended due dates depend upon the insurance company, most companies will offer some leeway, especially if you have a history of making payments on time.
Do All Carriers Offer A Car Insurance Grace Period
In short, no, but many have car insurance grace periods to remain competitive, so its important to talk to an insurance agent about plan details. Some companies may even also allow a specific number of late payments before enforcing stricter regulations such as if youre late on your payments three months in a row.
Other companies may charge a late fee or set a higher premium the next time you renew your auto insurance.
Most companies do not want to lose you as a customer over one late payment. However, since car insurance plans are based on trust, be sure to do your due diligence to alert your company of any complications.
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What To Do When Your Car Insurance Lapses
A coverage lapse is any period of time when your car is not covered by insurance. Coverage lapses can happen when your policy has been canceled and you dont have another insurance policy in place.
If your coverage lapses but you want to stay with the same insurer, you can see if they will reinstate your policy, but this might require you to pay your missed payments and a reinstatement fee. You could also choose to shop around for car insurance with a different company. If you missed your payment because you werent able to afford it, you may be able to find the same coverage for a cheaper price elsewhere, or contact your states DMV to see if they have a program to help low-income drivers secure coverage.
Learn more aboutcar insurance coverage lapses
You May Be Able To Stay With The Same Insurer
If your current insurance company provides coverage in your new state, you may be able to stay with that insurer. Doing so would:
- Simplify the process for you.
- Preserve any loyalty discounts you’re on track to receiving.
However, keep in mind that even if you stay with your current insurer, your policy rates and coverage may change to reflect the risks inherent to your new neighborhood and the minimum insurance required by your new state.
If you do decide to change insurers, you should know that you are allowed to switch car insurance policies mid policy. If you already paid for coverage, you may be able to get a prorated refund. However, some companies do have a cancellation fee.
This is especially true for drivers who are moving from a fault-based state to a no-fault state, such as Pennsylvania. In no-fault states, Personal Injury Protection insurance and additional forms of coverage may be required so your new premiums may be higher than they were previously.
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How To Transfer Car Insurance And Registration After Moving
Find Cheap Auto Insurance Quotes in Your Area
If you’re in the process of moving to a new state, you’ll need to transfer your car insurance policy and register your vehicle within the first month or two. You’ll probably have to go to the DMV to update your license and registration, but you should be able to update your insurance online.
How to update your insurance and registration in a new state
Auto Lenderinsurance Requirements Matter Too
When buying a car, you must carry auto insurance coverage that meets two minimums. First is the state minimum requirement, which is generally just liability coverage and a minimum amount of personal injury and property protection coverage. Second, if the car is financed, you must meet the lenders minimum insurance requirements.
The latter will usually be a combination of comprehensive coverage and collision coverage. They may also require a maximum deductible amount and more. If your current policy doesnt meet all the lenders coverage option requirements, the lender may force-place an insurance policy meeting its needs and add the premium to your monthly car payment.
You can find the minimum auto insurance requirements in your loan documents. If you dont see it, the dealership can guide you, or you can call the lender to ask a representative about the companys minimum insurance requirements.
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How Long Is A Car Insurance Grace Period
As we mentioned, grace periods vary between 24 hours to a month quite a large range. State car insurance laws also come into play if your plan lapses.
All but two states require some form of car insurance at all times, and even those require confirmation to drive without insurance from the DMV. So, in a nutshell, you cant simply jump in a car without insurance documentation.
The specific length of a grace period and steps that must be taken before a lapse in coverage come down to your location and your plan. If possible, get this information in writing from your company before you face late payments or create a gap in your coverage.
What Are Washington State Auto Insurance Laws
Washington state requires all drivers to have auto insurance. The state requires drivers to have the following:
- $25000 bodily liability coverage per person
- $50000 bodily injury coverage per accident
- $10000 property damage liability per accident
- $10000 underinsured property damage
- $10000 basic personal injury protection
Each of these requirements falls into liability coverage. This means that it covers damages and injuries that you cause to another driver or their passengers. This coverage does not provide you with compensation following an accident. Additionally, all Washington state drivers are required to carry proof of insurance when driving.
Some drivers may choose to opt-out of Washington states insurance requirements by:
- Giving a Certificate of Deposit to the Department of Licensing for $60000
- Setting up a surety bond of $60000
According to ExpertInsuranceReviews.com, self-insurance may also be available to commercial fleets with 26 or more vehicles. It can also be helpful to know other Washington state driving laws, including a ban on the use of all handheld phones. Drivers cannot text or make phone calls unless they are using a hands-free program.
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How Does Washington State Calculate Insurance Rates
It can be helpful to know what factors go into determining your rate. Washington insurance providers consider the following factors:
- The type of vehicle you drive
- If you have had continuous coverage
- The number of miles you drive daily
- Your driving record
- Your level of driving experience
- If you use your vehicle for personal or business purposes
Once you know what factors go into calculating insurance rates, you can have a better idea of what to expect with your own rates.
Drivers with a lot of traffic violations or DUIs on their record may have a hard time finding insurance in Washington state. However, Washington state has a Washington Automobile Insurance Plan, which provides high-risk drivers with an insurance company to use. The policy can be expensive but is usually a last option for drivers who may have been denied coverage everywhere else.
Shop Around And Compare Quotes
One of the best ways to save money on car insurance is to reshop yearly. By comparison shopping across multiple insurers, you might find a cheaper quote for the same coverage you have now.
Theres more than one way to shop around for car insurance: You can visit each insurance company’s websites one-by-one and get quotes that way, or you can work with an independent broker, who will get you quotes from multiple companies and help you compare coverage options.
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Does Your License Get Suspended If Your Insurance Gets Canceled
Your driver’s license won’t get suspended if your car insurance policy is canceled. However, if you don’t have an active car insurance policy, you can’t legally drive in nearly all states.
Also, if you get caught driving without car insurance, it’s possible that your driving privileges could be restricted or revoked, depending on your driving record.