When it comes to auto insurance, there’s no doubt you want to get the best rate possible. There are many factors that determine your premiums, but one of the best ways to make sure you’re not overpaying for your policy is to shop around. Re-shopping your auto insurance policy each year could lead to significant savings, so let’s walk through the process and its benefits.
Reasons to Re-Shop Your Auto Insurance Annually
Auto insurance rates vary by carrier and change frequently, so it’s a good idea to re-shop your policy at least once a year. When you know your policy’s renewal is approaching, you can start to gather quotes from different carriers and compare plan details and costs. Some reasons to re-shop your auto insurance include:
Significant life event: Getting married, moving or getting a new job are all reasons to evaluate your auto insurance coverage.
Improved driving record: If you had a traffic violation on your driving record at the time you purchased your policy, you’ll want to re-shop your rates once the infraction has expired from your record.
Improved credit score: You could benefit from discounts or better rates if your credit score has improved since the last time you shopped for auto insurance.
New car: If data shows that drivers with your make and model have been in more accidents or filed more claims, your rates may be higher. Getting a new car is a great time to shop around and compare rates from multiple carriers.
How to Shop for Auto Insurance
Before you start shopping for your auto insurance policy, take the time to learn about the types of auto insurance coverage. This will help you understand which policy details may work best for your needs. Our auto coverage quiz can help give you an idea of how much coverage might be right for you. You’ll also want to have some basic information on hand before you start shopping, such as:
As you go through the process, you’ll answer a number of questions to help determine your auto insurance premium and potential discounts. It’s helpful to have a list of your own questions prepared and to have your current policy on hand so you can easily compare costs and coverages.
Save Even More Money by Bundling Your Auto Insurance
Bundling insurance, which is going through the same carrier for more than one type of insurance, is one of the easiest ways to save money on auto insurance. Whether you need home insurance coverage or have another mode of transportation to insure, bundling multiple policies will typically save you money. In fact, SelectQuote customers save an average of $693 per year by bundling home and auto insurance.
Re-Shop Your Auto Insurance with SelectQuote Today
There’s a lot to consider when purchasing auto insurance, so re-shopping can seem like a time-consuming and complicated process. Luckily, SelectQuote can help. Our licensed insurance agents quickly and easily search policies from a variety of trusted carriers, comparing quotes and plan details on your behalf. We’ll do the shopping while you do the saving—all in just minutes.
