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How Often Should You Compare Auto Insurance Quotes

    3 minute read

    Consumers are exposed to so many different options that it is often easy to fall into the “grass is always greener” mindset when trying to make a choice as there are typically so many options.

    Comparing Quotes Can Save You Money

    Take automobile drivers, for instance. Many of them check gasoline prices on an almost-daily basis as they drive by service stations. Others are drawn to newspaper ads and television commercials that advertise new car “sales” events or special financing offers.

    When it comes to all things cars, people are all about keeping an eye out for a better deal. But here is a question: how often do people check out auto insurance rates from other companies? Perhaps more importantly, how often should they compare prices on auto insurance?

    Most people purchase auto insurance policies that are effective for a finite period of time, like six months or a year. Therefore, it will not prove advantageous to think about switching insurers on a monthly basis. On the other hand, it would behoove drivers to compare auto insurance quotes a bit more often than “never.” (Or until they have a bad experience with their current auto insurance company.)

    How Often Should You Compare Auto Insurance Quotes?

    With all of this in mind, here is a three-part answer to the focus question:

    A. Whenever you experience a significant life-changing event.

    Examples of these include:

    • getting into an auto accident (even one that is not your fault)

    • filing an auto insurance claim due to theft or vandalism

    • being convicted of a DUI

    • purchasing a home for the first time

    • getting married

    • changing jobs (especially if your commute time changes drastically)

    • adding a teenage driver to your household

    man excited about saving on auto insuranceThese are not arbitrary life events, which might spur changes in other facets of your life; rather, all of these events can have a direct bearing on your auto insurance premiums. Therefore, it is worth your time to check out insurers who may calculate your rates differently to determine if you can pay less than you are with your current auto insurance provider.

    B. When your policy is about to renew… if there are other factors involved.

    This example is less clear-cut than the first because you may be genuinely satisfied with your current auto insurance company. You should, however, explore what a few competitors are offering if:

    • your current insurance rates have increased

    • you are making an active effort to budget your finances and cut fixed costs

    • you hear from a friend, relative, work colleague, or other word-of-mouth source that he or she is paying less for auto insurance after switching to a certain company.

    C. Every few years or so.

    This is the maximum length of time you should wait without considering the other options available to you in terms of auto insurance. This is because a few years is a significant amount of time in the auto insurance world. There may be a new company providing auto coverage or an insurer you previously overlooked who is now offering more attractive rates. Plus, there is a strong possibility that after a few years, you have climbed into an age bracket where auto insurance rates are statistically lower.

    In most cases, it is good to begin by calling your current insurance agent, broker, or company and asking how you might be able to get a lower premium. These professionals have many different tools at their disposal to help you achieve that goal. Or you can contact Auto Insurance Specialists, who work with dozens of insurance carriers in California. They can present you with a variety of coverage and pricing options to fit your individual needs.

    When it comes to auto insurance rates, remember this: sometimes, the grass can actually be greener with another company.

    This content is offered for educational purposes only and does not represent contractual agreements. The definitions, terms and coverage’s in a given policy may be different than those suggested here and such policy will be governed by the language contained therein. No warranty or appropriateness for a specific purpose is expressed or implied.