They say that variety is the spice of life. When it comes to finding the right auto insurance policy to fit your needs, you have a ton of options to choose from.
For most people, there are plenty of reasons to think about switching to a new carrier. Whether your rates have recently spiked or you want better coverage options, make a clean break before switching. Your independent insurance agent is a great place to start.
Top 3 Mistakes to Avoid When Switching Car Insurance Coverage
You may think buying new car insurance is simple. However, there are a few common mistakes to look out for before you officially make the switch.
1. Not Confirming Your New Coverage
Before you get too excited over a new insurance quote, confirm that the new rate gives you the right level of coverage. Be aware that some carriers may offer you a great rate but for less coverage than what you currently have.
2. Leaving a Coverage Gap
It may sound like a rare occurrence, but if you don’t set your new policy to begin the minute that the previous one ends, you won’t have coverage in the event of an accident. A gap in coverage -even a very short one- could also end up costing you more. Most companies consider your insurance track record when determining your premium charges. A lapse in coverage may indicate a higher risk in the eyes of some insurers.
3. Not Canceling Your Old Policy
When starting a new car policy, cancel the old one and get written confirmation that you no longer have coverage with the old provider. If you simply stop paying on the old policy without confirmation, you could ding your credit score and create additional issues in the event of a liability claim against you.
Be Proactive When Switching to a New Auto Insurance Policy
If you’re thinking about switching to a new car insurance policy, it’s important to make sure you can make a clean break. Don't jump at the first great quote that comes your way. Do your homework and avoid making a common mistake that can cost you later on down the road!
Your independent insurance agent is a great place to start. They can help you get a policy that meets your needs at affordable policies.