Switching auto insurance companies can be a little bit like getting yourself out of a bad relationship. You know it's time, but the process seems daunting and maybe even a little bit painful. Fortunately, finding a new insurance company doesn't require any heartbreak, and it doesn't have to be challenging. As with most significant decisions, all it takes is a little bit of research and preparation.
To give yourself the best chance of finding your insurance soulmate, you'll want to spend some time getting all your ducks in a row. This article will guide you through the steps you should take before collecting quotes from your insurance suitors.
1. Research Your Current Policy
You know you want out, so why should you waste time looking at your old policy? The simple answer is that you want to understand as much about your current rates as possible to compare them to your new rates. You don't need to memorize this information, but keep your old policy details handy as you do research. Make sure you have access to current deductibles, limits, and coverage.
Some companies also provide extra details on factors that may positively or negatively affect your rates, such as previous accidents or tickets. If you have access to these for your old policy, keep them handy to understand what may impact the quotes you receive.
2. Know Your Costs
While there are plenty of reasons to change policies, most people primarily want to reduce their costs. Your current insurance company should provide a detailed breakdown of your monthly or yearly fees. Ensure you understand which policy features currently cost you the most money because you may want to consider removing or reducing those coverages for a new policy.
Companies often display their rates differently, so it doesn't hurt to calculate your yearly, monthly, and bi-annual costs so you can make an apples-to-apples comparison. It's a small step, but it can save you some time and mental effort as you try to determine the most cost-effective option.
3. Gather Information
Whether you're getting quotes online, in person, or by phone, you'll usually need the same information at hand. In general, make sure you know the following:
- The VINs for any cars in your household
- Driver's licenses numbers for all drivers on your policy
- Basic information about at-fault accidents and tickets from the last five years
Along with your existing policy and cost information, you shouldn't need anything else to start collecting quotes. Just remember not to fall for the first pretty face that shows up! By using the information you've prepared to gather and compare multiple quotes, you shouldn't have any trouble finding your perfect insurance match.
