When to Explore Rates for Auto Insurance by pfinancecr


									  When to Explore
Rates for Auto Insurance
 When to Explore Rates for Auto Insurance

 How often do you think about your auto insurance rates? If you're like many, you
 only consider your rates during renewals. If so, you may be surprised to learn that
 auto insurance companies periodically raise insurance rates across the board.

 Therefore, you might have taken the best deal for insurance when you first bought it,
 but now, you could be paying more than necessary for your auto coverage.

 That's why it's a good idea to check auto insurance rates at least yearly to ensure you
 can't get equal or even better coverage for less than what you're now paying. Plus,
 you may experience other situations that should trigger a re-checking of your rates
 for auto insurance.

 Consider these situations that could affect your rates:

 1. Accidents. If someone on your policy recently had an accident, your auto insurance
 company probably increased your rates. Interestingly, if you take a look at what
 other insurance companies would charge you for auto insurance, you might find that
 you can get much lower rates, even after a car accident.

         Therefore, if you or someone in your family recently had an auto accident, it's
         smart to check insurance rates with other companies in order to keep your
         premiums low.

 2. Buying a new car. When you're purchasing a new car, examine auto insurance
 rates at various companies. It's wise to look at rates early in the car-shopping process to
 compare them for the 2 or 3 make and models of cars or trucks you're considering for
 purchase. Otherwise, you might make the mistake of buying a car that's quite
 expensive to insure.

        So, before you select and buy a vehicle, check insurance rates with at least 3
        auto insurance companies.

3. Is your teenager almost ready to drive? If so, it's time to explore insurance
coverage rates. Some auto insurance companies offer very reasonable rates for teen
drivers while others are downright exorbitant.

        A few months before your teenager will be driving, investigate pricing on
        auto insurance from companies you believe are reputable and dependable.

4. Driving your car more or less than before. In the event you change the amount of
miles you're driving your car, take the opportunity to check car insurance rates.
Although your current company might be willing to cut your rates, go ahead and
examine the auto insurance rates at 2 or 3 other companies so you can compare

        You might get lucky and find an insurance company willing to give you a
        "cut-rate" deal for the miles you drive your car in a week, month, or year.

5. Your car's value decreases. As your car ages, it's wise to adjust the coverage on
the car, which will reduce the amount of your auto insurance premium. Although you
might have full coverage on a new car, after a car is 3 or 4 years old, most auto
insurers suggest reducing your coverage to save money on your auto insurance

        As the value of the car reduces, so should the amount of car insurance you

6. Your living situation changes. Maybe the amount of money coming in to the home
reduces. Or you get a divorce or get married. Perhaps you switch from full-time work
to part-time work. Or maybe it's retirement time.

        During periods of transition, consider it an opportunity to evaluate how

                                                   much money you're paying for car insurance.

                                   You may be able to save over $500 yearly by comparing auto insurance companies, so make it a
                                   point to explore rates of various auto insurance companies and compare them with the rates
                                   you're paying currently. You just may keep a few more dollars in your own pocket.


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