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What Should I Do If I Can’t Afford My Car Insurance?

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Every vehicle owner in Malaysia knows that car insurance is like oxygen in the country; so far, you have a car you drive, you simply must have it. However, the nation’s economic situation is continually evolving, and simply put, times are tough. That being said, what’s the way out if you can’t afford to support the current insurance package on your vehicle? More importantly, what should you expect to happen moving forward?

Hello! I’m Stella, Fincrew brand ambassador, and I’ll be your go-to person for answers in this video. Car insurance is vital. So, what opportunities can you leverage if you can’t live up to the responsibilities of fulfilling your car’s needs? We’ll be offering some pro tips on how best to proceed now! The right information is what makes the difference between making the right decision and a poor choice. Know all you need to know about insurance in Malaysia today when you watch the Insurance360 Video Series! It is highly educative and attacks pressing car insurance issues in the country head-on! Catch up on the series so far, and don’t miss another episode by hitting the Subscribe button now and enabling the notifications! Got that? Great? Now let’s get started. If you can’t afford the car insurance package you’re on right now, here are a few tactics you can employ. First:

Consider Comparison Shopping For Better Rates With Online Insurers

You might not know this, but slowly and surely, online insurance companies are taking center stage in the country today. There are a lot of reasons these institutions are becoming the preferred choice where insuring automobiles is concerned. The first and perhaps most important reason is that they offer the same services as you would find with standard insurers at cheaper rates and with greater convenience. You might be surprised to find more than a few online insurers who’ll extend you the exact same coverage you have on your vehicle right now at a far more pocket-friendly rate.

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Take Advantage Of Discount Features

There is a literal abundance of discount and bonus features you can easily key into to reduce your currently paying as car insurance. For example, a driver who obtained their coverage when they were single and didn’t update it after marriage may discover that they’re losing out on the car insurance marriage discount feature! Similarly, households that operate more than one vehicle with independent insurance packages are also losing out on the massive discounts they can get from a multi car insurance package. There are several other discounts like this that vehicles don’t accord much regard that could, in reality, help with the insurance bills. Find out what some of these discounts are and see if you qualify for them. Leverage them as best you can as it may help reduce your premium to a more reasonable level.

Consider The Vehicle

Since the make and model of a vehicle also influence what you pay as a premium, merely changing your vehicle might result in a drastic decrease in what you pay as insurance. What’s more, removing accessories and customized parts can also help you in this department. Now, if you’ve adopted all these measures and you still can’t afford to pay for auto coverage, your only other option is to park the car and start considering other transportation options as you simply can’t drive in the country without insurance.

We hope this video was helpful! For more informational videos like this, don’t forget to Like, Subscribe, go to your Settings and turn on your notifications, so you can stay tuned in all upcoming episodes from this Insurance360 video series. Till next time, have a great day!

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