People often think about their auto insurance just once a year. But, if you’re not checking in on your rates more regularly, you may not be getting the best car insurance rate available.
Make it a habit, a good habit, to shop around and compare rates when:
1. It's time to renew
When your insurance nears its expiry date, your insurer will send you a renewal reminder, usually about six weeks ahead of time. That gives you plenty of time to compare quotes to see if another insurance provider will provide you with a better price.
Premiums often change, and even though your current provider gave you a great rate last year (or the last time you put their premium to the test), it doesn’t mean they’ll give you the best rate this year. It’s worth the few minutes it takes to quickly compare quotes because a new lower premium means more money in your wallet.
2. Turning 25
Often drivers don't realize that once they turn 25 years old, many see their auto insurance rates dip. It's a surprise birthday present waiting to be unwrapped for good drivers.
3. You're getting married
Depending on your spouse's driving history, you may find that the company that provided you with the best rate as a single driver may not be the same company that gives you the best rate as a couple. After you’ve said "I do" to each other, it may be time to say ‘I do’ to a new car insurance provider too.
4. Saying ‘I don’t’
Breaking up is hard to do, but if your ex has a spotty driving record, a fresh start with a new insurer that offers the best rate for you, and only you and your driving record, may be a separation that helps you save.
Where you live factors into what you pay, and chances are your premiums will change when you move. However, your insurer may no longer offer you the best rate in your new neighbourhood. Make sure you’re getting the best deal at your new address and compare rates once you’re settled.
6. Buying a new car
New or used, what you park in your driveway is one of the factors in calculating your car insurance rate. Cars that are more likely to be stolen, for example, may come with a heftier insurance bill. So when shopping for a new car, keep in mind to shop for insurance to find a premium that's as nice as your new set of wheels.