Money Saving Tips When Purchasing Auto InsuranceMoney Saving Tips When Purchasing Auto Insurance

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Money Saving Tips When Purchasing Auto Insurance

There are many factors to consider when purchasing auto insurance. For many people, the cost is often the deciding factor when choosing between several different policies. We don't work in the auto insurance industry, but just like many others, we do strive to save money. We wanted to find out how we could lower the cost of automobile insurance, so we performed extensive research. We studied insurance polices, learned about deductibles and interviewed auto insurance agents to discover the best money saving tips. Since lowering car insurance costs are important to many people, we wanted to give others the opportunity to find out what we learned. We've included this information in our blog and I hope that it also helps you save money when purchasing auto insurance.


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Steps For Switching Your Automotive Insurance Provider

If your automotive insurance rate keeps increasing, you may have decided to shop around for an alternate insurance provider. Use the following criteria to legally switch insurance carriers and obtain the paperwork that you need to prove that you are insured.

Assess Rate Hikes And Cost Comparisons

Insurance rate hikes occur when a life-changing situation requires a modification to an existing policy. Adding a new driver to a policy or purchasing a new vehicle could contribute to a hike.

If you aren't certain that you are receiving the best rate, shop around for auto insurance. Some providers may offer policies that are priced according to how much driving you will be doing. Others may offer discounts that are based on your status as a safe driver or student. 

Switch Providers

Once you have compared rates and found an insurance provider who has offered you a good deal, purchase automobile insurance. Even though you may temporarily have two insurance policies that are active (your new one and your preexisting one), it is important to purchase the new insurance policy before canceling your old one. Driving without coverage, even for one day, could result in being fined.

Acquire Your Documents

Once you have successfully obtained your new insurance policy, print out a digital card. This type of card can be accessed online. A digital card should be stored inside your vehicle's glove compartment.

Your new insurance provider will also furnish you with paperwork that relates to your insurance coverage. These documents will outline the coverage amount that you are supplied with. They will also indicate how much your insurance policy will cost you each month. If you are required to pay a deductible, it will be listed on the paperwork that your new insurance provider gives you.

Cancel Your Policy

Once you have reviewed your insurance paperwork, plus placed your digital insurance card in your glove compartment, contact an agent at your former insurance company. Tell the agent that you would like to cancel your existing policy. If you prepaid your policy, you may be reimbursed for the amount of money that you overpaid.

Once you have successfully canceled your auto insurance policy, ask the agent to mail you a receipt. This receipt should indicate that your insurance policy was canceled and that you do not owe the insurance company any money. Keep the receipt with other important records that pertain to your automotive insurance.