Five Great Reasons To Shop Around For Auto Insurance

Shopping around is the #1 way of saving money on insurance. Are you sure you're getting the best deal possible with your current insurance company? Many people find it easy to stay with the same company for years, but fail to realize they have the potential to save hundreds of dollars each year by comparing quotes from multiple companies. You should shop around at least twice a year to see if you are getting the best deal possible. Below are five other great reasons to shop around:

You’ve just moved. Moving is always a stressful time; lots of money to be spent, information to update, packing and moving trucks to arrange, etc. However, in this expensive period of your life, there is at least one thing you can do to cut some expenses – shop around for auto insurance rates. Are you paying too much for your auto insurance? Your new address makes this the perfect time to find out, as rates can change when you move, and you have to update your policy anyway. Why might your rates change at your new address? Because rates in various locations differ for various reasons. For example, auto insurance rates in rural communities are almost always lower than those in large urban centers. Accidents tend to happen much more frequently in big cities, due to the number of cars on the road (AKA: Traffic!)

You may be moving to a new state, and your current auto insurance company may not be a licensed insurance provider in that state, or if they are, the rates they offer may be much higher. Certain states have higher insurance rates than others due to the percentage of claims filed. States like New Jersey, Washington D.C., New York and Massachusetts typically have the highest average insurance rates.

It can also cost more to settle claims in certain areas, and this can add to the cost of your insurance premiums. Expensive cars cost more to repair or replace, and wealthy urban communities will sometimes have higher average insurance rates. Regardless of whether you’re moving to a new state or just across town, now is the perfect time to compare multiple rates and find the lowest one. Rates can differ by hundreds of dollars from company to company.

You’ve bought a new car. There are a lot of things to consider when you are thinking of buying a new car; what kind you want to get, what monthly payments you can afford, what features are the most important to you, etc. But one thing most people don’t think of is to check the new car’s insurance rates. Or if you are deciding between several different makes and models, to compare insurance rates for each. InsWeb’s quick and easy online marketplace is the perfect place to do this. You can easily check rates for your potential new vehicle(s), and you can save your information so you can activate a policy quickly if you decide to purchase. Most dealerships need proof of insurance on the car before they let you drive it off the lot.

Insurance rates differ greatly between cars. If the car is safe and performs well in crash tests, is not frequently stolen, and/or has certain safety or anti-theft features, it will generally cost less to insure. If the car is flashier, has a history of being frequently stolen, or is more expensive to repair, you can bet your insurance rates will be higher.

You’ve just gotten married. It’s an exciting time in your life, and not one that you might want to think about things like insurance. However, after shelling out all that money for your wedding and/or honeymoon, why not find out if you can save some money by combining your auto insurance policies? Most insurance companies offer discounts when you insure more than one car on the same policy. It’s a good idea to shop around and compare quotes and see who can offer you and your new spouse the best deal.

This can also apply to anyone you are adding to your policy. If you have a child who just got his or her driver’s license, are adding a live-in parent to your policy, etc., it’s a good idea to shop around and see which company will offer you the best rates for your multiple driver policy.

You’ve just Retired, Changed Occupation, etc. Retirement is often a good time to reexamine your auto insurance policy. Many auto insurance companies offer discounts to drivers 55 and over. Also consider whether you have other discounts that are now applicable, such as a student with good grades on your policy, a car that is rarely driven (which could mean a low mileage discount), or if you or another driver on your policy have changed occupations to something such as a engineer, scientist, mathematician, teacher, or member of the military. Many companies offer discounts to people in these professions. Discounts differ from company to company, so be sure to shop around and find out who can offer you the lowest rates for your personal situation.

You just think your rates are too high. Ever been chatting with a friend or colleague about auto insurance rates and realized that they paid way less than you? While rates can differ from consumer to consumer based on numerous factors, you very well may be paying too much for your auto insurance. What’s the only way to find out? By shopping around and comparing rates. What’s the quickest way to do all this shopping at once? By utilizing InsWeb’s easy-to-use online marketplace.