Drivers choose to stay with the same car insurance company year after year since they assume that they are getting a great deal. While most insurance providers offer discounts to customers that stick with them for a long time, you can actually save more money if you switch providers.
You might be surprised to learn that you could be paying as much as twice by sticking with the same insurance provider. Shopping for new car insurance quotes regularly is the best way to ensure that you get the best possible car insurance deals.
10 Top Reasons to Shop for New Car Insurance Quotes Regularly:
1. You Have Just Bought a New Vehicle
It is always advisable to obtain new insurance quotes after you buy a new vehicle. Insurance rates vary significantly from one vehicle to the next and it can be a good idea to obtain new quotes for the new vehicle especially if it is significantly different than your previous one. Insurance companies generally specialize in insuring vehicles of specific types, so checking for new quotes for the new vehicle can help you obtain lower insurance rates.
2. You Have Moved or Plan to Move Soon
The fact that insurance rates across the United States vary significantly is no secret. While some areas, such as cities, typically attract higher rates compared to the rest, rates sometimes vary even by zip code. Several factors go into determining insurance rates for various geographic regions, such as the crime rate, number of accidents, etc. Due to this, insurance providers may be more specialized in insuring a particular area over another. Obtaining new auto insurance quotes whenever you move can help you enjoy significant savings.
3. You Want to Change Your Coverage Level
If you have come to the realization that you require a different level of coverage, whether it is less or more coverage, it can be an excellent idea to start shopping for auto insurance quotes. Some insurance providers offer discounts depending on the coverage level, which means that obtaining new quotes can be a great idea to ensure that you get the best possible rate.
4. You Are Now Driving Less
Whether you are driving less in an attempt at adopting a healthier lifestyle or for being more environmentally friendly, you could be eligible for lower auto insurance rates if you no longer use your vehicle as much. The discounts are typically offered by insurance providers although not all of them are created equal. It can be a good idea to shop around to find out which provider can provide the best rates for your new driving habits.
5. You Have Switched Careers
You might be surprised to learn that your career has a direct impact on your vehicle insurance premiums. Statistically, occupations such as accountants, teachers, and engineers are considered much safer drivers by insurance providers because they are involved in less accidents compared to drivers in other occupations, which results in lower premiums. If you have recently made a career switch, you need to shop for quotes today to find out how your new occupation is likely to impact your insurance premium.
6. You Wish to Add More Drivers
Do you plan to add new drivers to your auto insurance policy in the near future? If this is the case, shopping around for new quotes can be a great way to ensure that you are not overpaying for coverage. This is particularly true if you are adding a first-time driver to the policy. After all, younger drivers tend to be more expensive to insure. However, some insurance providers offer more discounts for this demographic compared to others.
7. You Need Other Types of Insurance
It is always advisable to look at vehicle insurance quotes irrespective of the type of insurance you would like to buy. The reason for this is that many insurance providers offer bundling discounts thus giving customers lower rates if they choose to purchase multiple policies from them. Instead of blindly signing up for an additional policy with the same provider, check whether such bundling offers are provided by your current provider. However, you should always ensure that you get the best deal for both policies.
8. Your Credit History Has Changed
It is legal for car insurance companies in most states to use your credit score when determining insurance premiums. It is only Massachusetts, Hawaii, and California that don’t take your credit score into account when calculating premiums. The truth is, that there is a correlation between the credit score and how likely you are to be at fault in case of an accident or even file a claim. If your credit history has changed for the better, it can be a good idea to shop around for new car insurance quotes to find out how much you can save.
9. Your Vehicle Has Depreciated
Insurance providers hardly ever use the market value when determining the rating factor, but they do use the model year. As vehicles get older, they have lower repair costs, which is reflected in the premiums. However, as your vehicle gets older it can be a good idea to consider the value to replace it against the premiums for physical damage coverage and determine whether you still need to carry the collision and comprehensive coverage.
10. Your Last Quote Was Over 6 Months Ago
If none of the scenarios discussed above apply to you, it is still possible to benefit from getting new vehicle insurance quotes. It is advisable to get a new auto insurance quote every 6 to 12 months to be sure that you get the best possible rate. Your premiums might be affected by numerous factors, but the only way to tell is by receiving new quotes regularly.
Final Thoughts
Shopping around for new car insurance quotes regularly is of great importance as the 10 points discussed here show clearly. If you wish to always get the best deals when it comes to auto insurance coverage, you need to take the points discussed here into consideration.