Believe it or not, most people don’t like change in their lives for many reasons. For starters, it requires a lot of work to accomplish it. You need to find an alternative, make other arrangements and still need to get used to whatever is new in your life. Sounds like too much hassle to bother with. Yet, it is part of life and whether we like it or not. It is better we jump when we are good and ready rather than getting pushed.
The same principle applies to policies. Here are the best times to switch car insurance companies if you want to avoid paying more than you should.
Renewals Are There for a Reason
Actually, renewals are there to allow carriers to adjust to circumstances and risks better. That is why most of them sell 6-monthly policies these days. Otherwise, they would never want the coverage to expire if they could help it. For example, companies are hit hard right now with inflation. They struggle with increased part and labor costs and make it more expensive to repair customers’ automobiles.
Currently, most home and auto insurance renewals are coming at hiked rates. According to reports in the press, this is also a wakeup call to many motorists. Getting hit with another elevated bill when everything else going up is hard. So, they shop around to get better prices. You can have a clean break at renewal with no penalties or complications.
Getting a New Automobile
Type of vehicle insured has a significant bearing on rates. That is why you should always get alternative quotes when you are changing them. While your current carrier may have been perfectly happy with your car, they may not like the new one. Often, they make it very clear with additional premium requests. When this happens, you may pay it for now but you should definitely get alternative quotes at renewal.
Children Getting their Licenses
It is a very exciting time for them and perhaps very worrying for you. Young drivers are at high risk because they don’t have enough experience and cannot see the dangers. You would often see several teenagers in one car laughing and joking around. They have no idea that they are distracting their friend who is new to driving.
Secondly, you know perfectly well that your rates are probably going to double when you add them to your policy. So, you should do your research on companies that offer discounts for teenagers or offer better rates when you add them. You should just accept that you have to pay more. There is a difference between more and a lot more.
Change of Relationship Status
Your partner influences your rates positively or negatively. For example, a female partner may actually reduce the rates of a male policyholder, especially in the early years. Even a roommate with a bad driving history moving out would change your rates a lot. So, any changes in your living arrangements or relationship status may require you to get a few quotes and compare them.
Actually, many motorists habitually compare auto insurance quotes from different companies at least once a year to make sure they are not paying much or their provider is still competitive. Sometimes, you don’t even realize that things have changed in your life.
Getting a new quote forces you to enter your details again and you naturally enter the current position. However, your rates may be getting calculated based on the details you entered five years ago. Not only are they not relevant but also, they may be costing you money without you realizing it. So, just get a few quotes and see where you are right now. It really is an easy process.
