Are you paying too much on your auto insurance? Switching to a different provider may save you lots of money! Many of us stay with the same provider for years because we do not want to deal with the hassle of switching. This is understandable because life gets very busy, but overtime this can become a very costly mistake. According to Gabbi.com, it is possible to save on average, $700 per year by switching providers.
Here are some tips to find a better rate on your auto insurance:
- Contact your current insurance provider – If you tell them you’re shopping for a better rate, they may be willing to offer you a lower premium.
- Shop around – Try and review at least 3 insurance providers before switching. It is possible to save anywhere between 5 to 50 percent, depending on the provider you choose.
- Check for cancellation fees and other potential penalties – Find out if your current provider charges fees and other penalties for cancelling a policy before the end of the current coverage period. When given proper notice most insurance companies give their consumers the right to cancel at any time.
- Investigate the new company – Do some research and make sure the new company offers both great rates and excellent service.
- Avoid coverage gaps – Plan carefully to make sure that there will be no gap in coverage as you transition to your new provider.
- Cancel your old policy before switching your auto insurance – Be sure to notify your existing company you are ending your policy. Get written confirmation of the cancellation and make sure you continue paying your premiums until you get confirmation. This will prevent you from getting reported to credit bureaus for non-payment.
If it is time to change your auto insurance provider, these tips will ensure a smooth transition!