Every so often clients ask if it’s a good idea to change their car insurance company.  It’s a personal decision, and we want our clients to have options.  Having said this, there’s always an ad or agent telling you, you can switch any time and their rates will save you hundreds of dollars.  Sometimes the savings come from lowering coverage levels or before they've run driving records.   At Solo Insurance® we check the rates for all our clients every policy renewal (typically at six months but some are twelve months).  We’re always looking to see if we can find better rates for our clients and the folks who call us. 

In our opinion, it is not a good idea to switch from your carrier to save a few dollars.  Companies often have longevity or loyalty discounts once you’ve been with them a couple years.  They may also include things like accident forgiveness or diminishing deductibles when your record stays clean.  These are often better for you in the long term, so a few dollars aren’t typically worth it.  But sometimes life enters in and there are times one needs to save every dollar possible.  This is why we give you the options and say here that it’s a personal decision. 

 

What happens when you policy jump mid-term? 

Say you found a better rate in the middle of your policy and you want to switch.  It’s not a problem but never assume you get all your money back (sometimes you get money back, sometimes you owe and sometimes your break even).  You could experience cancellation fees and/or short-rate cancellations (where the insurance company is allowed to keep a percentage of the premium).  Doing this too often can impact your rates down the road as it’s a pattern and insurance companies like consistency.  Sometimes people also get the dates wrong and end up with unexpected gaps in coverage.   Gaps cost money and then, if an accident happens during the gap, it can get messy.  Also note that some carriers fine print says they can cancel your policy if you have an accident within the first 30-90 days.  Work with an agent that can help you through the maze and guide you around pitfalls. 

 

The biggest reason to switch car insurance companies at your renewal is to save money. Just make sure you’re saving enough and  not sacrificing coverage.  If you want to decrease your coverage, then you can check with your current company before switching and keep the same policy.  

 

No one wants to pay too much for anything, especially insurance.  That’s why we always shop the rates for our clients.

 

Solo Insurance® where great rates and service meet.  We shop the rates for you upfront and at renewals, always making sure you are with our best rate for your insurance needs.  Like us on Facebook, follow us on Instagram and Twitter @thesoloins

 

Solo Insurance®  800-207-7656  Get a Quote: https://www.soloinsurance.net/

– Veteran/Family owned since 1994 –

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