Paying the same agency for the same coverage year after year may seem like the best option. The reality is that changing providers is not only easy, but it can save you a considerable amount of money. In a few short steps, you can be on your way to a lower premium and coverage to suit your vehicle needs.
If you’re not getting a good value for your current insurance coverage, then you really ought to make the switch as soon as possible. Paying more than you should to get the same type of coverage doesn’t make any sense when you have access to so many different providers. Use the internet to find the best insurance plans for you. You can get free quotes online by putting in some basic information. And if you don’t want to share too much private information at first, you don’t have to.
So if you know that you’re not getting the best deal you can for auto coverage, do your research, find a better deal, and follow the steps below.
How to Switch Car Insurance Providers
As stated above, the first thing to do is compare individual agencies against each other to see which company can offer you the best quote. There are many comparison tools online for this purpose, or you can visit each provider’s website or contact an agent. Comparing quotes against each other will help you find the lowest price or best offer. Some providers offer special discounts for new customers or if you choose to bundle your insurance with home and life coverage.
Once you’ve found a quote which sounds best for you, be sure to check out the agency supplying the coverage. Have a look at consumer reports and any complaints made against the company. You should be able to find customer complaint ratios through your state’s insurance offices. You may also be able to find user reviews on websites like Yelp. If there are any nightmare stories there, read through them and compare their situation to your chosen plan. It might just be that what happened in their case was something that their plan didn’t include.
Also, make sure that you check with your current provider that you don’t have to pay any penalties for departing from their coverage. If you are ending your policy before the end of the coverage period, your current insurer may charge a fee. Get in touch with your agency and find out if it is a better idea to wait until the coverage period ends before switching.
Switch Successfully with these Top Tips
Though changing your policy company is easy, there are a few things you will need to think about when you finalize the switch;
- Notify your previous policyholder – Make sure that when you change insurers, you don’t just stop making payments to your previous agency. Notify them in writing, by email, or contact them by phone to let them know that you are ending your policy. Ask for confirmation from your old provider that your policy has been canceled. This will prevent you from being billed further and protect your credit – you won’t be reported for non-payment.
- Drive carefully while your policy is new – Accidents, collisions, and claims within the first 90 days of your new policy can result in more expensive coverage than you previously had. Your new agency might even decide to end your policy if you make a claim so soon into your coverage, so be sure to drive safely.
- Watch out for a lapse in coverage – If you wait for one policy to end before beginning one with a different company, be sure that your vehicle is covered continuously. Try to ensure a small overlap or same day coverage, as even a small lapse can result in an expensive problem should you be involved in a collision or accident. The lapses themselves also often result in insurance companies deciding to increase your premium or offer you a higher quote, so be mindful of this.