Everyone needs car insurance. Most states have a minimum insurance requirement that protects you and other drivers on the road. Car insurance gives you peace of mind on and off the road, but it can get expensive depending on your situation. You want to get the best deal available.
So, how do you know when you need to shop car insurance? Experts agree that shopping for car insurance, or at least getting quotes, keeps companies’ rates competitive and will give you better deals. Unfortunately, there are no set rules on how often is often enough to check for new quotes.
Some insurance experts recommend checking for quotes as often as twice a year to make sure you’re saving money. Here are some great times to check for new car insurance quotes.
- When You Move
Every time you move to a new home, especially one that’s a considerable distance from your old house, you should consider checking for new car insurance. Where you live does influence your car insurance premium rates.
Other drivers in the area may give you an idea of what you might pay, but your demographic information and driving information are as unique as your car insurance quote should be. Whether you live in an urban or rural area, traffic patterns, emissions, and other factors about where you live affect your rates, so be sure to shop for quotes when you move.
- After Certain Life Events
If you’ve gotten married, turned a year older, or have a new or teen driver you want to enroll in your policy, you may qualify for new discounts on your car insurance. Having a new driver to add to your policy or bundling your auto, home, and life insurance policies are also reasons to get a new quote. Bundling your policies will often save you money on all your premiums.
Other life events that may qualify you for a new price quote include:
- Moving in with relatives
- Renting an apartment or buying a home
- Earning a degree
Life events change your financial status, credit score, and other important factors that can change your car insurance quote even before your policy is set to expire. Anytime you have a significant life change, it’s a good idea to see if you can get a cheaper rate on your car insurance.
- Improved credit scores or grades
Most car insurance companies provide discounts for students as well as students who get good grades. If you’ve recently improved your credit score, you also want to check if you qualify for a discount from your car insurance provider.
If you can improve any of these areas by going without traffic violations, paying your bills on time, or making better grades, you will almost certainly qualify for new discounts on your policy. As soon as this information changes, you can begin to look for new quotes. Taking a defensive driving course may also make you eligible for lower insurance premiums.
While not everyone qualifies for every discount, most companies reward good customers and good drivers with lower rates. Remember, it should be free to get a new quote.
- Driving Habits Change
Much like moving, changing jobs or schools can also affect your driving record. If you will be driving significantly less, you may qualify for a discount. Don’t forget the area you live and work in also affects your premium, so be sure to check into discounts if you change jobs or locations.
If you’re using your car much more, you might not see an increase in your premium, but you will see an increase in your other expenses like fuel and maintenance. You may consider dropping your car completely if you live in an area with good public transport.
If you decide to remove a car from the road or sell it, you can take that car off your policy, thereby saving you some money. Just make sure you don’t need the vehicle to be roadworthy anymore. If you move in with other family members or decide to carpool, you may be able to combine policies and save even more money.
The Bottom Line
Remember, there’s no set time to check for car insurance quotes. However, you should be checking at least once a year or when your policy is set to expire. Any time your living, working, or family situation changes, it’s time to shop for new car insurance quotes.
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