How To Switch Car Insurance Providers?

When you buy a car, you are required to insure it, especially if you have an auto loan through a bank or another commercial lender. Depending on the form of insurance you need, auto insurance can be expensive, so it is a good idea to complete investment education and shop around for the best rate. Also, after vital milstones in your life, such as turning 25, getting married, remaining accident free for a certain period of time can impact your insurance rate. 

So, if you do find a less costly rate for insurance, but it is with a different company than the one who currently offers your coverage, you will have to switch from one company to another. 

Step 1. Apply for a policy from the new provider
Most of the time, you can do this online through the insurance provider’s website, or over the phone with a customer service representative. 

Step: 2. Set up your policy start date
The new policy should start the same day the old policy ends. This guarantees you are always covered.

Step 3: Notify your current insurance provider that you intend to switch coverage
It is simpler and more cost efficient to switch insurance providers when a current policy coverage date is nearing expiration. For example, if you pay monthly, ending coverage on the last day of the month and starting new coverage on the first day of the next month ensures you are always covered and that you will receive your money’s worth from both insurance firms. You can notify your current provider of the switch by calling the customer service department, cancelling through their website, or contacting a local agent if one is available.

Step 4: Pay the premium for the new policy
Some corporations require you to pay for the new policy when you sign up, while others will bill you. Make sure you meet the payment needs so you will be covered on the new policy when the old policy ends.

Step 5: Review your policy when you receive it
Make sure all the info on the policy is correct and what you requested. 

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