Much like a rental unit, car insurance rates change daily, making it wise to obtain a new auto insurance quote every six months. Insurance protects drivers from financial burdens if they’re in an accident. Not only that but auto insurance is a requirement in the state of Florida.
Since having coverage for your vehicle is necessary, you may find rates much lower after you’ve shopped around. Plus, it’s a good idea to make sure you’re being adequately covered. Remember, cheap car insurance is not always the best choice.
Reasons to Shop for a New Auto Insurance Quote
- You had a birthday.
If you’ve had a birthday since your last car insurance policy renewed, you should obtain a new auto insurance quote. After you reach the magical age of 25, the lower our insurance rates become. Young drivers, especially males, are charged the highest insurance premiums. If you’re younger than 25, shop around for new rates anyway because rates begin to decline before then.
Even though every passing year is highly beneficial for younger drivers, older drivers are also eligible for lower rates. Rates continue to drop until around the age of 60, which is when your rates will begin to rise again.
- You got married.
If you are single, separated, divorced or widowed, it may surprise you to learn that major auto insurance companies charge you a higher premium than married drivers. Not only will you pay less after you’ve gotten married but you also receive a multi-car discount when you insure both of your cars under the same insurance policy. According to the Consumer Federation of America (CFA), major insurers factor in the driver’s marital status when calculating a new auto insurance quote.
- You’re a new homeowner.
Renters tend to pay more for car insurance than homeowners. In fact, impeccable drivers tend to pay as much as 47 percent more for basic liability car insurance if they rent their home. Sure, it’s discriminatory on many levels because a responsible driver is just that—a responsible driver.
But hey, if you’re a new homeowner and you haven’t tried to get a new auto insurance quote in the previous six months, go for it because it might work in your favor.
- Your credit score has improved.
In most states, your credit score impacts your premiums. Keeping up with your bills and increasing your credit score will improve your car insurance rates after an extended period of time.
- You have a good driving record and continuous coverage.
If traffic violations, accidents or tickets affected your record, as they fall off your premiums will decrease. Violations tend to drop off after 3 to 7 years. In conjunction with a good driving record, if you’ve maintained insurance for the last six months to more than a year without any lapse in coverage then shop around for a new car insurance rate. By demonstrating you are a trustworthy driver, you can get the best new auto insurance quote.
E&L Insurance is here when you’re ready to shop for a new auto insurance quote every six months. Our knowledgeable insurance agents are sure to help you find the best rates and maximize your benefits