Shopping around for auto insurance should certainly be done periodically so that you can get the best possible deals on premiums. The same driver can possibly be charged more with one insurer than another. This is especially the case when in dire need of cheap car insurance.
It’s for this reason that it is typically important to compare auto insurance quotes regularly. Although you’re always recommended to shop around for insurance at least once a year, certain circumstances can also call for the need to re-evaluate your options sooner. So, here are circumstances under which you should shop for car insurance.
When Adding a New Driver
Adding a new driver to your insurance policy can possibly impact your rates thus making it an ideal time to shop around for new policy, find better options as well as avoid lapse in coverage. For instance, insuring a teen driver can certainly be costly and your rates can possibly increase on average.
Fortunately, shopping around can help you find carriers that offer good student and driver education discounts that can definitely reduce your premiums. It’s also ideal to shop around before your policy renews. Since auto insurance policies typically renew after every six to 12 months, you’re always recommended to compare quotes before your renewal date. This way, you’ll be ensuring you get the best possible deal for your money.
When You Move
When you move to a different location, factors like where you’ll store your vehicle and crime statics in the area can positively or negatively affect your premium. For instance, moving from a Suburban neighborhood to a large metro area can make your rates go up because the risk of damage to your vehicle is often high. You should also shop around for your auto insurance policy at least once per year.
Rates can possibly change each year based on many factors. Therefore, at least once per year, you ought to take your time to and compare auto insurance quotes so as to ensure you aren’t overpaying for your policy. Also note that, shopping around for new insurers doesn’t necessarily have to be around your renewal date as you can still switch your insurance providers mid-way through your policy term.
