How Often Should You Shop For Car Insurance

People often stick with the same auto insurance company because the deal they got was the best available. The problem is that the deal you got at the time of purchase may no longer be the best. Over the course of a normal 12-month policy, other companies may have adjusted their rates to be more competitive. This means that you should shop for car insurance annually to see what rates may look like for you.

Competitive Field

The car insurance industry is competitive, meaning each company is trying to give the best quotes to attract the most customers. This benefits the customer’s that shop around often because they are more likely to find the best deal comparing multiple quotes.

Car Depreciation

The value of your vehicle rapidly depreciates over time, which is a good and bad thing. The resale value will often not be anywhere close to the purchased value. However, since the vehicle has a lower value, it will be cheaper to insure. If you shop around often, then the depreciated value will more closely correspond to the rate you receive.

Think About The Children

If you have teens that are either learning to drive or already driving, then you know what rates look like for them. Consider that companies are aware of the high rate for teens, so they are seeking to offer the lowest rates on teen drivers to attract families. Again shopping around often opens your eyes to the savings available.

Get Educated

At the end of the day, shopping for auto insurance quotes will at the very least leave you with some education. You can learn what factors affect insurance rates, how taking a higher deductible may lower your monthly premium and more.

Take Home Message

There is no downside to shopping around for car insurance, and there are so many benefits to comparing quotes regularly. Whether you do it every 6 months, or annually, it is best to give yourself enough time before your current policy expires. The more time you give yourself the more quotes you will be able to compare. Make it easy on yourself and let Insurance Navy compare quotes to get you the best rate.