Five Reasons to Reevaluate Your Auto Insurance Quotes | Cars ...

Many people get into the habit of paying bills without really considering what they are paying for. For car insurance, this could result in costly charges. It doesn?t take much time to go over your policy at renewal time to ensure it is still the best policy for you, at the best price. Here are five reasons that you should reevaluate your auto insurance quotes annually:

Premium Adjustments

In general, car insurance companies change your premium on a regular basis. This differs depending on the company, but most do it every five months or once a year. The car insurance industry is allowed to make changes to your insurance premiums on a regular basis, usually every five months or annually. If you just blindly renew, you might not realize how much your premium has increased. What started out as the cheapest auto insurance quote, might not be as cost effective anymore. You do not need to be loyal to a company who is no longer getting you the bang for your buck.

Changes in your Information

At renewal time, it is a good idea to go over your information and see if anything has changed. This can include your address, marital status, if you?ve had any accidents or speeding tickets, or if you are done financing or leasing your vehicle or have refinanced. Some of these changes may increase your premium, but many will result in a lower auto insurance quote. You might also check to see if you are paying for more than your state?s minimum in car insurance coverage. If you can do without the extra coverage, you could save $100 dollars or more on your premium.

Vehicle Upgrades

If you have added safety features to your vehicle you might be eligible for discounts on your premium. This can range from a theft deterrent system, to anti-lock brakes, to an ESC (emergency stability control) system. Some of these things may have been included when you bought the car, but if you have added them since, your premium could go down as a result.

You Have an Improved Credit Score

Insurance companies usually use your credit score as a measure of risk, and this risk is shown in your premium. If your credit score has gone up since the last time you renewed, you could save money on your auto insurance quote. You can check AnnualCreditReport.com for free to check your credit report. If it has improved, give them a call. They monitor credit scores but may not have checked recently, or be aware that you have been trying to improve it.

Turning 55

Often times once you turn 55 you are eligible for different senior discounts. AARP is well known for providing huge auto insurance quote discounts for their members, but other companies do so as well. Turning 55 is a good time to do some comparison-shopping to make sure you are still getting the lowest auto insurance quote.

Source: http://www.cars-magazin.com/405-five-reasons-to-reevaluate-your-auto-insurance-quotes.html

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