How to Tell if You Need to Change Auto Insurance Companies

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Things to Remember...
  • Auto insurance is one of the most important financial purchases you will make
  • The purpose of car insurance is to provide you with financial protection if you are involved in a car accident, even if you are not at fault
  • Insurance review websites are also a good source for information regarding auto insurance companies
  • You should also review your auto insurance each time it comes up for renewal to make sure you are getting the best rates possible and your insurance needs have not changed

From time to time, it is necessary to evaluate your insurance coverage to make sure you are getting the best protection possible, at the lowest rate.

It may be necessary to change auto insurance companies from time to time based on available rates.

Enter your ZIP code into our FREE auto insurance comparison tool to see if a change is right for you.

When to Review Your Car Insurance Policy

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It is a good idea to periodically review your car insurance policy to see if you have the best auto insurance company. There are numerous signs that may prompt you to begin looking at other insurance companies.

However, you should review your insurance each time your auto policy is up for renewal.

Renewal is a good time to reevaluate your policy because it is when you may see rate changes, particularly if you have filed any claims on your policy. You may also see an increase in your premium rates if you have received traffic violations.

Another reason to review your car insurance policy is when you have changes that impact your insurance needs.

For example, if you have a teenager who has recently received their drivers license, you should talk to your insurance company or agent about the best way to add them to your policy. It is possible to find cheap auto insurance quotes for teens online.

You should also talk to your insurance company or broker if your teen has left for college. Other reasons to review your policy include purchasing a new car, selling a car or if you are no longer driving a car on your policy.

Your broker may also recommend changes to your coverage as your car ages.

Comparing Auto Insurance Companies

Before changing your auto insurance policy, you should approach the process as if you are buying car insurance for the first time.

You will need to compare rates from several different companies and research potential companies to find out background information on them before making a purchase decision.

Consumer Satisfaction

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Consumer satisfaction is a major consideration when buying car insurance. Look at JD Powers and Associates’ website to find out about auto insurance companies with the highest consumer satisfaction rates.

JD Powers conducts an annual survey and reviews car insurance companies. The results of their annual survey are on their website.

Financial Stability

Financial stability is also extremely important when choosing an auto insurance company.

Fitch, Standard and Poor’s, and AM Best regularly monitor insurance companies and evaluate their financial reserves, financial practices, and credit rates. You can review this information on their websites.

Legal Standing

It is easy to find car insurance companies simply by looking on the internet. However, it is important that any potential auto insurance company be legally authorized to operate in your state.

You can find out information about legal standing in your state by visiting your state’s Department of Consumer Affairs website.

There, you will find information about companies legally licensed to operate in your state. You will also find information about insurance agents and brokers.

Additionally, these websites will have information about law suits and complaints filed against insurance companies, brokers, and agents.

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Reviews

Insurance review websites are also a good source for information regarding auto insurance companies. Review websites include detailed information about products and services an insurance company provides.

You can also find out information about pricing compared to other insurance companies, the effectiveness of customer service and potential problems with an insurance company.

Review websites frequently have a forum or consumer review section where customers talk about their experiences with specific insurance companies.

Insurance Comparison Websites

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Insurance comparison websites offer a wealth of information. You can usually request policy premium rate quotes from numerous companies through a comparison website.

Additionally, comparison websites may have specific auto insurance companies they recommend. You will only need to enter your information one time to receive multiple quotes.

Insurance Company Websites

You can also find out information about auto insurance companies by going to their corporate websites.

Here, you will find out information about the different products and services they offer. You can also request a rate quote from a corporate insurance website.

Independent Insurance Brokers

Independent insurance brokers represent many different insurance companies. If you are reviewing your current insurance needs, they can usually make recommendations regarding your insurance coverage.

They may also make recommendations on ways to lower your premiums and keep your payments low. Independent insurance brokers frequently review your policy needs for you when your auto insurance is up for renewal.

It is a good idea to periodically review your can insurance needs. If you have had changes that impact your auto insurance, you should contact your agent or insurance company to review your insurance coverage.

You should also review your auto insurance each time it comes up for renewal to make sure you are getting the best rates possible and your insurance needs have not changed.

Our FREE car insurance comparison tool can help you find good rates when you enter your ZIP code.

As part of your review process, find out if your current car insurance company is financially stable and whether or not there have been complaints filed against them that may impact your own experiences with them if you need to file a claim.

If you want to see simple rate research that can help you decide on auto insurance companies, enter your ZIP code into our FREE car insurance comparison tool now!

FREE Auto Insurance Comparison

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