When Should You Consider Switching Auto Insurance Providers?

No matter how long you’ve had your auto insurance with a particular provider, it’s never a bad idea to shop a few different companies to see whether there’s anything you might be missing – including price breaks. That used to mean sitting on the phone for hours on end while you called around town, but these days you can start online and get it done in a fraction of the time.

Here are some specific times when you should review what you have and what’s out there

Moving

One of the best times to consider switching insurance providers is when you move to a different part of town or out of the state altogether. Home insurance rates are determined by a variety of factors, including population density and crime rates. For example, if you live in a crowded city, the chances of your getting into an accident obviously are greater due to the number of people sharing the road. You also could expect to pay a higher premium if you live in a place with a high crime rate.

New car

If you just bought a car, it may be a good idea to shop around for a new auto policy. Newer cars typically increase your premium because the vehicle likely costs more to replace and also is more likely to be stolen than an older model. On the flip side, if you’re thinking about buying a car, keep this in mind – you may save money on both the car and your insurance by choosing a gently used model rather than one that just arrived on the lot from the factory.

Newly married

Congratulations! Now that you’ve tied the knot, go ahead and tie your cars together too. Having more than one car on the same policy keeps it simple and also typically earns you a lower premium that insuring the vehicles separately.

Clear driving record

So, you’ve had a few traffic violations and/or tickets, but they have finally expired and your record is clear. Having no points on your record may do wonders toward lowering your monthly premium, so take a look around at the available options.

New job

Believe it or not, what you do for a living can impact your auto insurance. If, for example, you have an hour commute in heavy traffic to and from work each day, you’re a greater risk than someone who only drives a few miles down the road. So if you’ve finally gotten the OK from the boss to work from home, do some research to see how much you can save by switching insurance providers.

There is always the chance that when you shop around for auto insurance you will discover discounts and credits that aren’t available from your current insurer. So, take the time to get a few quotes and see how they compare to your current policy. It can’t hurt, and it just might save you money on car insurance.

Source: AutoInsurance