People seem to always complain about the cost of their insurance premiums, but at the same time, they don’t seem to ever do anything about it. Granted, there are many ways to reduce the cost of car insurance, but without doubt, the most significant is to simply get quotes for your insurance. The following is a quick explanation as to why this is true.
Over time, you may be a less risky customer
If there is less risk associated with insuring you, then your policy should cost less. The problem is that the insurance company you currently have, may not pass on any of these savings to you. They are in business to make money, and if you don’t switch to another provider, then there is no reason to give you all of the savings that you are entitled to. They might as well keep all of these savings themselves. Of course, in real life, it doesn’t exactly work like this. What an insurance company will do is give you a small discount, so you will renew with them, but not the full savings that you now represent. Most people will look at the small amount of savings, and it will be enough to not bother with getting quotes, so they will never know that they are paying too much for their car insurance.
You had an accident
Sometimes the opposite will be true. You will have had an accident, so your insurance company will, naturally, raise your rates. Your first thought will be that this is simply the consequences of getting into an accident. However, this new policy may be too expensive. Other insurance companies may charge you less than your current insurer because you are a new customer. Certainly, this policy will be more than you were paying before your accident, but it may also be less than your new policy with your current provider.
Always get several quotes for a new policy, and keep in mind, you do not have to wait until your current policy expires. You can switch providers without having any gap in your coverage, and you can get a refund for the unused portion of your current policy.
