When you are looking into buying car insurance, it can be tempting to just go with the first rate you are quoted. After all, you only have so many days after you buy a car or move to another state to purchase insurance as required by law. Plus, it’s one of those tedious, frustrating tasks you would just as soon get over with, right? But it’s worth it to take time to compare auto insurance rates. And yes, it’s for the obvious reason that it could save you money. But also consider these more specific reasons:
- Auto insurance rates can vary quite a bit, more than you probably think.
- Car insurance companies regularly change their rates in order to stay competitive.
- Changes in your life could change your coverage needs.
- You might be eligible for discounts you didn’t know about.
You may be surprised how different rates are for the same drivers and the same vehicles from one company to the next. Imagine saving 30% over the rates you are currently being quoted just by switching to a different company. And what if you already have insurance, but you’re getting an old rate which is no longer competitive? Maybe carriers in your area have dropped their rates over the past few years, and your current insurer simply hasn’t let you in on the news. Why should they, after all? You are already on a plan, paying a higher rate.
There are a lot of life changes which may also require you to enhance your coverage, any of which could also have an impact on your auto insurance rates:
- Getting married
- Moving to another location, even inside the same state
- A child driver in your household
- A new vehicle
- A new home
- A change in your credit score
- Claims against your policy
- Traffic violations (or lack thereof)
There are so many discounts you could be eligible for and not receiving as well. For example:
- If you moved from a city to a rural area, your rates could drop.
- If you don’t do a lot of driving, you could get a mileage discount.
- Some companies will discount you for installing GPS or another tracking device, as well as certain safety equipment.
- You could get a discount for having a multi-vehicle policy.
- If you have no traffic violations for an extended time period, you could save money.
Whether you already have auto insurance or you have to select a new policy, it is well worth your time to shop around and check out a variety of different providers. You never know what opportunities you could be missing to save money. Maintaining a car and paying for gasoline are expensive enough—there is no reason you should pay more than you need to on auto insurance. It only takes a few minutes to compare quotes from different insurance providers, and the savings could start right away!