How To Change Auto Insurance Companies

If it's time to change your auto insurance company, you're not alone. With all the different companies that offer auto insurance, and the countless options available to choose from, finding the one that best suits your needs can be a difficult process. This is especially true if you have some personal characteristics that make choosing a new insurance company difficult or if you are looking for an affordable option.

In this blog post we will go over some of the factors to keep in mind when thinking about changing your auto insurance company as well as helpful tips on what types of questions to ask yourself before moving forward with this decision.

Before you change auto insurance companies, it's important to carefully review your current policy. Take a look at how much you are paying for your policy, any discounts you may be receiving, your coverage limits and any other factors that are important to you. Knowing what type of coverage you have in place will help when deciding whether to stay with the same company or switch to another one.

Why is Auto Insurance Important?

Before changing auto insurance companies it's important to first identify why this is happening. There can be several reasons for switching insurance companies, but knowing why is the key to understanding what type of policies are out there and what they offer that can help provide a solution for your current situation.

Types of Auto Insurance Companies

There are several different types of auto insurance companies, so it's important to take a look at each one and understand what they offer. There are two main types of auto insurance companies: commercial insurance companies and personal insurance companies. The main difference between the two is that personal auto insurance companies only provide coverage for you. Commercial auto insurers cover both you and your employees as independent policy holders.

Personal Auto Insurance vs Commercial Auto Insurance: What's The Difference?

Personal Auto Insurance commercial auto insurance company owns the cars that their policy holders drive, so they have access to vehicle records such as maintenance history, accident reports, etc. Commercial Auto Insurance companies are more likely to offer discounts for a well maintained vehicle, whereas personal auto insurance companies don't have access to this type of information. Commercial auto insurance companies also offer more personalization options when it comes to coverage.

While personal auto insurance companies may have affiliations with certain repair shops or body shops, commercial auto insurers typically have relationships with large national chains and can therefore use distance as a factor in deciding where you should bring your car for repairs.

How to Change Auto Insurance Companies: Tips for Success

Once you have figured out why it's time to change your auto insurance company, the next step is to put together a list of questions that will help you figure out what new options are available and how they may be able to help you. It's important to make sure that your new insurance company offers coverage for both you and your vehicle, as well as enough liability coverage in case you are sued for causing an accident. When calling different companies it's important to ask if they offer any discounts, such as good student discounts or if they have programs in place that can help lower your rates.

Here are some other questions you may want to ask:

Does this company have any affiliations with repair shops or body shops in the area?

Is there a deductible I can pay for to lower the cost of my policy? How high is it?

Are there any add-ons available for me to purchase that can help lower my rates?

Is this company partnered with any other insurance companies that may be able to offer me even more discounts? What are these companies and how much do they discount?

What other types of discounts does this company have available, such as multi-vehicle discounts or senior citizen discounts? Are there any additional requirements to qualify for these discounts, such as paying on time each.

What type of discounts does this company have available, such as multi-vehicle discounts or senior citizen discounts? Are there any additional requirements to qualify for these discounts, such as paying on time each month?

Is this company willing to work with my current insurance agent? What is their policy on contacting my current agent in order to get the ball rolling on my claim?

What type of discount will they give me if I switch over a lot of my business their way? What are the terms and conditions that I will have to meet in order for them to offer this discount?

What kind of track record does this company have when it comes to making claims and how often do they pay claims on time.

Why are you switching insurance providers? Is there any new legislation I should know about or new circumstances that have come up that may affect my rates?

When you're finished with your list of questions, you'll be able to get a better idea of the type of company that could be a good fit for your needs. Once you've decided on the best option possible, it's time to bring in your current agent to see if he or she will be able to provide any tools for making the switch easier. It's important to talk with your agent before making a decision about what company will best suit your needs and budget so he or she can help guide you through this difficult decision.

Conclusion

Changing your auto insurance provider is not one of the most exciting things, but it's vital to ensure that you're covered by a company that will help protect you. Before making any decisions about switching companies, it's important to make sure your liability and coverage are adequate and that you don't have any discounts in place with the current provider.

Keep checking back for our next installment of "Ask The Experts" where we'll give some suggestions on ways to save money on renewing auto insurance policy while also ensuring you're protected.