If you are unhappy with the auto insurance policy you currently have, you are free to switch to a different company at any time. When you switch, though, you should carefully analyze your options and handle the switch properly. If you are not sure how to do this, here are some tips to help you with it.
Get quotes
You are free to get quotes for auto insurance coverage from as many companies as you would like. It is important to understand that getting quotes takes time, though. If you do not want to invest a ton of time in this, you might want to get quotes from two or three different companies only. Getting a few quotes like this will give you a good idea as to the costs of auto coverage from other companies, and it will still give you the chance to evaluate the quotes and choose the best one.
Add any extra coverage you need
When you request quotes, you should also talk to the agents about extra coverage you might need. Additionally, ask them about any discounts that they offer that you could be eligible for. When you switch policies, it is the perfect time to update your policy with the exact types of coverage you now need, as needs for insurance tend to change over time.
Buy a policy and then cancel the old one
After choosing a policy, you should agree to it and pay for it. Once you do this, you should receive an insurance declarations page and an insurance card. This may come through email or regular mail, and once you have it you are safe to cancel your other policy. Canceling your other policy first will leave you with a lapse in coverage. Not only is a lapse dangerous, as you could be driving without coverage, but it can also result in getting charged a higher rate for your insurance coverage.
Receive a refund check in the mail
When you cancel your old policy, you will probably have some money coming to you from it, as most insurance companies require prepayment of insurance. The amount you receive will depend on how far in advance you paid for the policy, and you should receive this check within 30 to 60 days.
If you are interested in learning more about updating your auto insurance coverage, contact an agency that offers auto insurance coverage in your area.
Share25 July 2019
I still remember the first time I had to chose an insurance policy; I was 17 years old and had just saved up enough money to afford my very first car. I was so excited to begin driving, but overwhelmed with all of the different auto insurance options. My father helped me chose a full-coverage policy that would cover the cost of my car if it were to become damaged in an accident. When I inevitably caused a small fender-bender as a new driver, my insurance company paid for my car repairs, so it sure was the best policy for me! Now that I am older and have learned a lot about home insurance and other types of insurance, I thought I would make a blog to help others who need insurance advice, like what my dad gave me. I hope I can help you make wise insurance decisions!