5 Essentials To Consider Before Switching Your Insurance Policy
Saving money on your insurance policy is an appealing prospect, potentially putting hundreds of dollars back in your pocket each year. However, before you decide to switch, it’s crucial to keep these factors in mind. By following these tips, you can make a well-informed decision about switching your insurance policy.
Tip #1: Compare Policies Properly
Advertisements often promise significant savings when switching insurance providers. While these savings are possible, it’s important to ensure that the new quote you receive compares your current policy with the prospective one. Pay attention to coverages, driving records, and vehicles insured. Even a minor difference in these factors can have a substantial impact. Beware of online companies that entice you with enticing savings, as they may only complete a comprehensive loss underwriting exchange (CLUE) report after you’ve submitted your application.
Tip #2: Update Your Policy
If you’ve recently experienced changes such as receiving a ticket or being involved in an accident, moving to a new location, or purchasing a new vehicle, it’s advisable to update your current policy before shopping around. Such changes can influence your premium, either resulting in savings or a price increase. Additionally, if a ticket has recently been removed from your driving record, it’s worth contacting your insurance company to explore the possibility of reducing your premium for the remaining policy term. Remember to refer back to Tip #1 whenever there are changes to your circumstances.
Tip #3: Seek Assistance from an Independent Insurance Agent
Engaging with an independent insurance agent can be highly beneficial. These professionals possess a wealth of knowledge, having access to multiple insurance companies. They take into account your unique situation, history, and requirements, providing recommendations from a range of insurers. By comparing rates across various carriers, they can help you choose the policy that offers the best benefits for your specific needs.
Tip #4: Consider Multi-Policy Discounts
While you may primarily focus on your auto insurance, it’s essential to consider all your insurance policies as a whole. If you have a package policy with the same insurance carrier, you likely receive discounts. If you decide to move your auto insurance policy to another provider, your home insurance premium might increase by up to 20%, negating any savings you obtained. Take into account all your policies when evaluating your options. Furthermore, if you have an umbrella policy, it typically must be aligned with your home insurance policy. Some carriers may require bundling the home and auto policies with the umbrella policy. Consult your agent regarding your specific circumstances.
Tip #5: Value Your Relationship with Your Agent
Establishing a strong relationship with your insurance agent is invaluable. They are your advocates in the event of a claim or accident, supporting you throughout the process. They can assist you in filing a claim or recommend reputable local companies to address your needs. When your insurance is directly handled by the company, you may not benefit from this personalized representation. Opting for a local independent insurance agent ensures you have a trusted professional by your side.
By considering these essential tips before making a switch, you can make an informed decision regarding your insurance policy. Remember, saving money is important, but it’s equally crucial to ensure you have the coverage and support you need when the unexpected occurs.
A Accelerated Auto Insurance was founded in 1992 by a group of independent insurance agents. Their vision was to provide affordable auto insurance rates to all customers regardless of driving record or credit history. This vision allowed them to quickly build a large, loyal customer base. In 2006 Jared Fuller began his career with Accelerated Insurance as a customer service representative. Over the next 10 years Accelerated expanded its reach to offer home and business insurance in addition to auto. In 2015 Jared’s wife, Cristy Fuller, also started working for the company. During the year 2016, they became the sole owners of Accelerated Insurance. Advances in technology allow Jared, Cristy, and a small staff to continue to grow while still providing excellent service to their existing policy holders. They continue to maintain the same vision of savings and service for Northeast Louisiana.
