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Why It's Important to Shop Car Insurance Policies Regularly
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[QUOTE="Ejiros, post: 122539, member: 16"] [JUSTIFY][SIZE=16px]Many people shop auto insurance every year. If you shop your insurance every year, chances are you're paying too much. You might be paying too much because of the discounts that most companies offer and because of the way that your premium is calculated. So how often should you shop?[/SIZE] Every year, when you shop for auto insurance, you're hoping to mainly achieve a couple of things: confirm the rates that you are paying now are fair, and to at least get some price breaks. [B]But how often should you shop for auto insurance?[/B] Well, how often you should shop auto insurance depends on your current auto insurance premiums, your driving record, what you're trying to protect, and even your age and gender. The more variables that you control, the more likely you are to get good value for money. In order to figure out how much you should be paying in premiums, all you have to do is look at the cost of insuring a similar vehicle from each different auto insurer. Most insurers will list the base rate that they charge on cars that they insure. They will also add in their various discount rates for various factors, such as the age of the driver, whether he or she wears a safety belt, if he or she carries a modicum of driving experience, and even how many miles you intend to drive each year. Once you know how much your current auto insurer is charging for a similar vehicle in your age range, then you can figure out how many miles you should drive each year, and then you can determine how many of those miles you should buy auto insurance from another insurer. [LEFT][IMG alt="shop auto insurance"]https://i.imgur.com/ClJp6Y2.jpg[/IMG][/LEFT] However, in many cases, these calculations are not that accurate because you may not live in a high-crime neighborhood. Some insurers don't like to sell auto policies in certain high-crime neighborhoods because they think that there will be a lower rate for them if the people who live in that area are less likely to be carrying auto insurance. So it is important that you shop auto insurance regularly to make sure that you're getting an accurate assessment of the rate that other auto insurers are charging you. Once you've figured out how much auto coverage you need, then you may want to ask the local insurance carriers about discounts that they offer for low mileage drivers, for example. Some carriers won't give you a discount for being a good student, but maybe they will for being an older driver with a good record. You can also ask your insurance agent about discounts for having multiple vehicles insured through the same company, or for being married or having children. Those discounts may help you save money. When you shop car insurance policies regularly, you'll learn what discounts are available, and you can take advantage of those savings. If your auto insurer doesn't offer a discount for multiple policies, then you may want to ask them about one. Even if you have a policy in force with another company, they may still offer a substantial discount to clients who use them for all of their driving needs. In addition, even if your agent doesn't offer a discount on one policy, your premiums may decrease if you switch companies. If you have had your policy for a long time without a claim, then you may qualify for a company-paid deductible. Shop around to get the best deal on auto premiums, and you'll be surprised at the savings that you can realize.[/JUSTIFY] [/QUOTE]
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Why It's Important to Shop Car Insurance Policies Regularly
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