Year after year, many drivers choose to stay with the same auto insurance company because they think they are getting a good deal. While many companies offer discounts to customers who stay with them for a long period of time, you may actually save more money by switching providers. According to a February 2011 survey done by Consumer Reports, some drivers are actually paying twice as much by choosing to stay with the same insurance company. Choosing to get quotes regularly is the easiest way to ensure you are getting the best possible deal on auto insurance.
Top reasons to get a new quote:
1. You recently bought a new car
Obtaining new insurance quotes is always advised when you purchase a new vehicle. Since insurance rates vary greatly from car to car, this is especially true if the new car that you are purchasing is significantly different than the one you had previously. Many insurance companies specialize in insuring specific types of cars, so checking for new quotes for your new car may help you get a lower rate on your insurance.
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2. You moved or will be moving soon
It’s not secret that insurance rates vary greatly across the US. While certain areas, such as cities, may have higher average rates than others, rates may even vary by zip code. There are many factors that go into determining insurance rates for different geographic areas, such as average number of accidents in that area, crime rate, and even amount of insurance-related litigations. Because of this, some insurance companies may be more specialized in insuring one area over another. Receiving new auto quotes anytime you move can help you save some serious cash.
3. You are driving less
Whether you are trying to be more environmentally friendly or are simply opting for a healthier lifestyle, you may be eligible for a lower auto insurance rate if you have stopped using your car as much. These discounts are offered by many insurance providers, but not all discounts are created equal. It would be in your best interest to shop around and see who can give you the best rate for your driving habits.
4. Your level of coverage needs change
If you have determined that you want a different level of coverage, whether it is more coverage or less, it is a good idea to start quote shopping. Some companies offer different discounts depending on your level of coverage, so obtaining new quotes would be wise to make sure you are getting the best rate possible.
5. You need to add more drivers
Will you be adding new drivers to your policy in the near future? If so, checking around for new quotes on auto insurance is your best bet to ensure that you aren’t overpaying. This is especially true if you are adding a first-time driver to your policy; young drivers are typically more expensive to insure, but some providers offer more discounts for them than others.
6. You change careers
Surprisingly, your career has a direct impact on your auto premium. Some occupations, such as engineers, teachers, and accountants are statistically “safer” drivers as they are involved in less accidents than drivers in other occupations. This results in lower auto insurance rates. Have you recently switched careers? Check for quotes today to see if your new occupation will positively impact your auto premium,
RELATED: LOWER RATES FOR CAREER-CHANGERS
7. You need other (e.g. health) insurance
Regardless of the type of insurance you are looking to buy, you should look at new auto quotes as well. The reason for this is that bundling discounts are offered by many companies, giving customers reduced rates if they decide to purchase more than one policy from them. Instead of blindly signing up for another policy with the same company, however, it is generally a good idea to get new quotes to make sure you are getting the best deal for both policies.
8. Your last quote was >6 months ago
None of these scenarios apply to you? You still could benefit from getting new auto insurance quotes. It’s recommended to get a new quote every 6-12 months to ensure you are getting the best rate possible. Numerous factors affect your premium, but the only way to see tell is by frequently receiving new quotes.