When you shop for car insurance, realize it’s more of a science than an art. Insurance agents plug your information into a computer which runs an algorithm and this algorithm generates a price. If two of the exact same people request insurance quote with the same coverages at the same time, they will get the exact same price. With this in mind, it’s important for people to know that there are certain times to shop for auto insurance to ensure you’re getting the best price available.
Many people shop their auto insurance at the absolute worst time. They get in an accident, experience a rate increase and this is when they decide to shop for better rates. Truth be told, they may actually find better rates. But keep in mind that within the algorithm that determines price is a variable regarding the customer’s driving history. If prior accidents are present, then the output is a higher quote. The best rates are not reserved for people with a recent ticket, accident or claim.
So when is the single best time to shop your auto insurance? Answer the below questions to find out:
- Do you have a clean driving history (ie no moving violations) for the past three years?
- Have you been accident-free for the past three years?
- Have you been insurance claim free for the past three years?
- Have you been with the same insurance company for the past three years?
- Has your coverage been continuous for the past three years?
If you answered yes to all of the above then you need to shop your insurance coverage. While we cannot guarantee you will be able to obtain a better rate, we can tell you that you have an extremely high likelihood of getting better coverage at a better price if you choose to shop now.
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