How To Handle A Car Insurance Carrier Switch
The insurance market is divers and allows you to switch carriers whenever you feel necessary. One of the main reasons why you may choose to switch car insurance companies is because you found cheaper free quote car insurance with another insurance provider and switching will save you a lot of money. Check the following guide on how to handle a car insurance carrier switch.
The first thing to do is to shop around and find a new carrier. The Ideal times for checking out other carriers and their prices include when you move, when you buy a new car, or a month or two before renewal date. We recommend you to use free quotes online to compare auto insurance rates, if you want to get the best deal. You want to gather at least three rate quotes. In addition, you want to understand what’s covered and how much protection you’d have from a new policy. Ask as many questions you want about the terms of the policy and which incidents will be covered.
You should also review all the discounts and bonuses you will no longer benefit when switching to another carriers. Loyalty and accident forgiveness benefits will no longer be available.
Next, contact the current carrier and inform about the switch. When cancelling your old insurance policy, it is best to do so in writing even if your insurance company doesn’t ask for it. This ensures that you have record of the date of the requested cancellation so that there is no confusion as to when you want to drop the old policy.
When you cancel your policy mid-term, your insurance company may either prorate or short-rate the refund that you receive. Typically, your entire unused premium will be refunded, though some insurance companies will charge a small fee if you cancel in the middle of the policy term.
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