We cannot say everyone will be happy with the standard auto insurance coverage or the same provider for their lifetime. Policyholders may want to customize their auto insurance according to their evolving needs or switch providers to save some cost. If you are thinking of doing either, you must be aware of some things before you act. Let us discuss them in detail.

Changing Your Auto Insurance Policy and Provider at Any Time

Mostly, you can change your auto insurance policy whenever you want rather than waiting for the renewal period. To make the changes, whether adjusting your coverage limit or adding a teen driver, contact your insurance agent and talk about them. Generally, the changes will come into effect immediately though you may be required to pay anything upfront for premium increases resulting from such changes.

Likewise, you can also switch providers at any time, mostly free of cost. However, some providers may charge you a fee. Consult your insurance company to learn whether leaving them mid-way will cost you money. If your goal is to save money, you can achieve it by simply decreasing your coverage limits or increasing your deductibles.

 Changing Your Auto Insurance Policy and Provider During an Open Claim

You can change your auto insurance even in the middle of your insurance claim, but your claim must remain with your current insurer. If you choose to navigate the claim process with another carrier during an open claim, ensure you are current with all payments and adhering to the claim-filing rules.

When Can You Change Your Auto Insurance?

You can change your auto insurance in the following circumstances:

• Your Car Is Becoming Older - Comprehensive insurance for an older vehicle is needless, especially if its worth is low.
• You Are Nearing Retirement - If you are not going to commute to work regularly, having a low mileage policy is enough.
• You Are Married - If you and your spouse own a car, insuring both vehicles under one policy will save you some cost.
• Unhappy with Current Provider - Most people want to change policy because of their providers' poor claims-handling process and customer service.
• You Are Relocating - If you are shifting to a new city or country, you can switch providers.
• You Are Adding a Teen Driver - Adding a teen to your existing auto insurance is subject to changes in premiums/coverage.
• You Want to Save on Premiums - Sometimes, switching companies can help you save money.

How to Switch Insurance Providers?

Follow these steps to streamline your provider-transition process:

• Keep Relevant Documents Handy - This may include your existing policy details, your car's Vehicle Identification Number, and your driver's license.
• Shop Around - Explore different providers and compare them in terms of coverages and their costs to settle with the affordable one.
• Choose and Sign-Up a New Policy - Choose the policy that best suits your needs and then enroll in it. However, before terminating your existing policy, ensure that the new policy will come into effect immediately. Otherwise, it will create a coverage lapse that will impact your rate.
• Inform Your Lender - If you are leasing your car or have financed it, inform your lessor or lender about these changes.
• Cancel Your Old Policy - If your new policy is active, you can terminate your existing policy.

Will I Qualify for a Refund After Switching My Auto Insurance?

Yes, in some circumstances. For example, if you have paid your premiums upfront and decided to cancel the policy in five months, you are entitled to a refund for the new coverage.

Does Changing Car Insurance Impact My Credit Score?

No, providers don't report your payment history to the credit bureaus. However, your credit score will impact how much you will pay for auto insurance, as providers usually calculate your rate based on your credit score.

Can I Change Auto Insurance Following an Accident?

Yes, you can, but your premiums may increase depending on your driving record and the accident's severity. This is because insurance providers will usually review your driving record's last 3-5 years so that an accident can increase your premium.

Your auto insurance needs will change alongside your lifestyle changes, and you can customize your policy correspondingly. Nevertheless, whenever you decide to switch policies/providers, review your current policy to see if there is a fee for canceling before the renewal period and act accordingly.

Consult with EastEnd Insurance Agency    

Whether you want to sign-up for a new auto insurance policy or update the existing one, contact our insurance agents today at East End Insurance Agency, and we will assist you.