Switching auto insurance companies Author:    Posted under: Auto InsuranceAuto Insurance questions answered

There are a lot of reasons why people switch auto insurance companies. Some they say do it to save money while others do it because they simply are not satisfied with their current company’s services.

Whatever your reasons may be, it is still best to think hard and twice before doing so. Remember it doesn’t have to be so complicated as long as you are sure of what you are doing And what you are after.

Here are a few tips on what to keep in mind should you ever want to make the switch:

Make sure your switch is very profitable to you in terms of coverage rates, and great quality and service.

Make sure you won’t get any fees by switching unexpectedly. It would be better to just ask first and clear this out of the way before proceeding with the switch.

Make sure your new policy is in full force before ending your previous one. A lot of people make this mistake and end up having a lapse in their insurance. Be smart and don’t let this happen. It is better to have overlapping insurance than not having one at all—not even for a day!

Consider waiting until your existing insurance policy nears the end of its term before switching to avoid paying fees for terminating your contract prematurely.

It would also be wise to shop around for other companies early should your existing insurance policy nears its end. Always check the market for who would fit your needs in terms of offering better rates and services for you. Learn how to shop and compare since diff companies offer diff rates. Check out who offers the lowest rates for new policyholders for 6-12 months or even more! –Pick the one that would suit you and your pocket most.

In cancelling your existing policy it is always wise to let the company know ahead of time so as to avoid any conflict or any hard feelings between both parties. A formal written letter of telling them about your intent of ending your policy is always best. This is to give them a “head up” and ample amount of time to go through the necessary process. Always be sure to include the necessary dates like exactly when end the policy so as to avoid confusion and avoid ending up with a lapse on your insurance coverage.

Confirm your cancellation when your new insurance policy is up and running. Most people fail to do this only to find out soon that their previous policy is still running and end up being cancelled because of failure to pay. Thus, showing on your record and putting tagging you as a “high risk” client. This would eventually hurt your reputation as a client and will automatically be charged with higher rates in the future by your new insurance provider and other future providers as well.

Remember though that change isn’t always better. That is why carefully examine your prospects, read all the fine print and run all the numbers to make sure your change would be a good investment for you in the long run.


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