As drivers, many of us are already well aware of everything that can affect our auto insurance rates. From accidents to traffic tickets, there are plenty of things that can cause our premiums to rise. But what about parking tickets? How many of those do you have gathering dust in your car, and why haven't you paid them yet?
Will It Raise My Premiums?
If you failed to comply with parking signs or you parked somewhere that required a parking permit that you didn't have, you may have received a ticket for the mistake you made. However, that parking ticket isn't a direct reflection on your safety habits as a driver, so it shouldn't affect your car insurance premiums.
However, running a red light, ignoring stop signs, speeding, and other traffic infractions such as these can definitely have a negative impact on your car insurance rates.
Additionally, If you park somewhere you shouldn't, and your vehicle gets towed, you will have to deal with all the towing fees, and you should also know that your insurance will not reimburse you for that, even if you have roadside assistance coverage.
The only time the car insurance company may reimburse you anything when your car is towed is if the car becomes damaged while it is being towed. The car insurance company may cover the repairs related to that kind of damage.
Consequences of Unpaid Parking Tickets
Just because your auto insurance rates won't be negatively affected doesn't mean you are in the clear. You still have to pay your parking tickets. Unpaid parking tickets can hurt your credit score, which can indirectly affect your car insurance rates.
Lower credit scores show the insurance company that you might not be responsible enough to pay your bills, which is a factor that definitely affects your car insurance rates.
What About My Record?
Parking tickets also don't usually go on your driving record and will not impact your driving privileges, as long as you pay the tickets. Parking tickets also can't contribute to the number of points you have on your record either because they are no-point tickets.
Lowering Auto Insurance Rates
So, what can you do to lower your auto insurance rates? First, shop around. Don't stick with the first company you come across because there is a chance you can save money with a different insurance company.
Make sure to collect quotes from several different insurance companies before deciding on one. You should also avoid shopping by price alone. Research the company and ask around for recommendations.
Higher deductibles can also help lower your monthly premiums. So, you can increase your deductible from $200 to $500, for example, and this could ultimately reduce your collision and comprehensive coverage costs.
Maintaining a good credit record is also important. Solid and stable credit history can lower your car insurance rates. So, pay your bills on time, keep all your credit balances as low as possible, and check your credit report regularly.
For more information on finding the best auto insurance for your needs, contact the experts at Panorama today to get started.