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When is the right time to shop around for auto insurance?

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Anytime you can find a great auto insurance rate that beats what you are currently paying is the “right time” to shop around for car insurance coverage. So while shopping around anytime is the answer, there are moments when drivers should especially take the time to shop around to make sure they are getting their auto insurance coverage at the best possible rate:

  1. Your current auto insurance policy is coming up for renewal
    There’s nothing like receiving your car insurance renewal notice in the mail and seeing your auto insurance rates went up to motivate shopping around. Comparing prices at renewal time is common and could save you money if another insurer can beat the rate you’re getting from your current insurance company. But consider this; would you still shop around if your auto insurance rates decreased? You should, because if your auto insurer is lowering their insurance premiums, other insurers are likely doing the same and may be able to offer you an even lower rate.

  2. You’re moving
    If you are moving there’s a chance a change in your ZIP code will mean a change in your auto insurance rates as well. Auto insurance rates can vary significantly within cities, states, and between urban and rural centers. Even if your current insurer’s rates are lower after you’ve moved, getting quotes from multiple companies might save you money because rates can vary greatly from one insurer to another. Compare auto insurance premiums after you’ve moved to make sure you are getting the best car insurance coverage and rate possible.

  3. You’re buying a new car
    Part of your auto insurance premium is based on the value of your car and the expense insurers’ believe it will take to repair or replace it. This means there is an opportunity for savings since each insurer will take a slightly different view. Compare auto insurance rates to see which insurers can offer you the best rate based on your new vehicle.

  4. You’re getting married
    Many insurance companies offer a discount if there is more than one vehicle insured under the same policy. This is usually referred to as a multi-car discount. If you and your new spouse each have a car and you are looking to consolidate your auto insurance policies then you should shop around for insurers that give you the best rates that include a multi-car auto insurance discount.

  5. You’re buying a home
    Like multi-car auto insurance discounts, many insurance companies offer a discount commonly referred to as a multi-line insurance discount to policyholders if they insure their home with them as well. If you have bought a new home or condo, or are planning to, shop around for insurers that give you the best rates that include a multi-line insurance discount on your auto and home insurance policy.

  6. Your teen is getting their driver’s licence
    If your son or daughter has their licence and you’re looking to add them to your auto insurance policy, be sure to compare quotes from multiple companies to see which insurers offer the best rates for teen drivers. You’ll also want to see which companies offer discounts to teen drivers that qualify. For example, did you know that some insurers offer a discount to teen drivers that maintain a certain grade at school? Also, in some states, teen drivers who have successfully completed and passed an accredited young driver safety program may be eligible for auto insurance discounts. Shop around for auto insurance quotes to see which insurers can give you the best rates with your teen included on your policy.

  7. You’re turning 55
    By the time you turn 55, chances are you have around 35 years of driving experience and insurance history. Some insurance companies recognize your years of experience and offer discounts for drivers that are 55 and older. If yours doesn’t, or if you want to see if there is an insurer that offers a better rate that includes the discount, compare quotes from competing companies. You can compare auto insurance quotes easily online, making shopping around for insurance hassle-free.

Shop online for auto insurance rates
Shopping around for auto insurance coverage and getting quotes from multiple companies is the best way to know you are getting the coverage you need at a price you can afford. If you think you are paying too much, for any reason, compare quotes online because anytime there’s a chance your rate will change with your current insurer, is a good time to shop around. Shopping for auto insurance nowadays is super easy and can be done instantly online, so the answer to “When is the right time to shop for auto insurance?” is anytime!

Disclaimer - The above description/explanation is intended as a guideline only, and is not to be interpreted as a recommendation to buy or sell any insurance products, or to provide legal or financial advice of any kind. Also, Kanetix Ltd. does not warrant or assume any legal liability or responsibility for the accuracy, completeness, or usefulness of any information, apparatus, product, or process disclosed.

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