Switching Car Insurance Companies In Four Easy Steps

When it comes time to renew your car insurance policy, you should be asking yourself a few questions. Are you okay with the type of coverage you have, the price you are charged, and the service you are receiving? If you are not answering yes to all these questions, it may be time to start shopping around for a different insurance provider.

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Unfortunately, many individuals are not satisfied with their current provider but refuse to switch due to overwhelm. Many believe it’s a hard process to execute and it’s not worth the hassle. However, switching your insurance can be done in four easy steps. We highly encourage you to base your car insurance policy decisions off of the factors mentioned above rather than worrying about switching.

Step 1: Take Inventory Of What Your Driving Needs Are 

When you are switching to a new car insurance company, it’s likely you will be asked a few introductory questions to help assess the best policy match for you. Knowing how many miles you typically drive for your commute, the number of drivers you need on the policy, and your driving history are important. For the most part, many of these questions should be easy for you to answer without too much research.

Step 2: Compare Rate Quotes 

Now comes the fun part. You should hop online and start comparing quotes from various insurance companies. By using the insurance information that you gathered in the above step, you can see what the same type of coverage would cost with other providers. Realize that some local providers may not have internet quotes and may require you to call them in person. Don’t shy away from this as you want to collect as many quotes as possible for comparison.

Step 3: Look At The Comparison Rates And Deductibles 

One thing that can throw many unsuspecting individuals off is not looking at the deductibles. Just because another car insurance provider can offer you a cheaper rate than your existing provider, doesn’t always mean it’s the best overall option. You must look at the deductibles to provide a fair comparison. It’s completely possible to find a company that offers you a lower monthly premium but requires double the deductible. While you may decide that you are okay with paying a higher deductible, if it means that you can have lower monthly payments, it’s important that you know what the implications of your new policy would be.

Step 4: Setup Your New Policy And Cancel The Old One

Always make sure you setup your new policy before you cancel your old one. You never want to lapse your car insurance coverage as it could lead to huge financial hardships in the event of an accident. When you decide on the car insurance provider you want to go with, simply call them up and get a policy. Once setup, be sure to call your existing provider and cancel your policy. You should aim to cancel your policy before it renews to avoid being charged additional fees.