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Your Auto Insurance Company For Extra Money?
By Joe Folger
Most people, once they have an auto insurance company,
simply just let their current policy renew and renew without
checking to see if maybe they can get a better deal
somewhere else. If that describes you, maybe you would look
into exploring your options if you knew just how painless it
really
is. This article will show you just how easy the
process is.
Shopping for a new auto insurance company
The easiest and quickest and as a result the most painless
way to shop for auto insurance is to go on the internet.
Many companies can give you quotes 24/7 on their websites.
You can also get contact information for a particular auto
insurance company on their site and call them up on the
telephone. When considering switching companies, the first
thing to do is to get comparison rate quotes from several
companies.
You do want to be very truthful about all your information
so that you can get accurate quotes. The company will find
out
about any accidents, claims or traffic tickets anyway,
so don't try
to hide anything. Also, when you get
comparison rate quotes, make
sure you compare the coverage
you have with your current auto
insurance company to what is
available with any new company so that
you can make a
comparison that makes sense.
How to switch
Once you have found a new auto insurance company and
purchased your new policy you must cancel your old policy.
If you don't cancel your old policy the old auto insurance
company could assume you wished to continue your insurance
with them. They would be expecting to receive premiums from
you. When they don't receive those premiums they would
eventually cancel your policy due to unpaid premiums and
report your lack of coverage to the Department of Motor
Vehicles of your state. This could affect your credit and
your ability to get a new auto insurance policy.
Canceling your old policy is easy
Usually, all you need to do is to inform your old auto
insurance company in writing, telling them when you would
like the policy cancelled. They will then send you a form
to sign and return, which in effect will cancel your policy.
One thing to note
Do not cancel your policy from your old auto insurance
company until the insurance is actually in effect with the
new insurer. This way you avoid any lapse in coverage.
However, nowadays there is little chance of that happening.
Most states require all drivers to carry a minimum amount of
insurance and your old auto insurance company will probably
require you to show proof of insurance before they will
cancel an active policy.
When you switch is very important
The best time to switch to a new auto insurance company is
when the current policy is about to expire. When you
receive your policy renewal notice from your current auto
insurance company is the best time to switch. This is
usually about a month before the current policy is actually
going to expire. It is during this period when you can
switch insurers without incurring any fees or penalties.
Also, because it is so close to the end of the policy term
you would avoid trying to figure out the amount of unused
premium that you are due from your old auto insurance
company. You also avoid arguing with your insurance agent
about exactly when you cancelled and how much the auto
insurance company owes you.
But yes, you can cancel outside of the 30 day period
If after taking into account the fee or penalty you may have
to pay you may find that you still would get appreciable
savings. So, while it is best you switch within that 30 day
renewal period, you can actually cancel at any time.
Are you ready?
That's all there is to it. Just think of all that extra
money
that could be coming your way if you follow these
simple guidelines.
About the Author
Joe Folger with his extensive insurance experience writes
for Auto Insurance Company Website and further
information about almost any particular auto insurance company
can certainly be found there.
Article Source: http://www.simplysearch4it.com/article/20492.html
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