There comes a time when you know it is time to get a new car insurance policy. For most car owners, shopping for car insurance is an uphill task, especially if you have been an old customer at your current car insurer.
However, shopping for new car insurer can yield you some beneficial results. The following are some of the signs to look out for when you know it is time to get a new car insurer.
Increase in insurance rates
The moment you begin to notice your car insurance rates are going up at least twice in the last three years, this should be a sign to you to look for a new car insurance provider.
You should get alarmed at such increments, especially if you have not been issued with a ticket or have had an accident during this period.
When you start to see abnormal increments within such a short span, you should consider changing your car insurance provider. If you are sure that the increase in the insurance rates is countrywide then there is no reason for you to be alarmed.
It is advisable for you to check with other insurance providers and see what rates they are offering.
If your current car insurer has increased your car insurance rates without any justification, then you know that it is time to look for a new car insurer.
When you have been grouped as a high risk client
If the current car insurance provider that you are using classifies you as a high risk client without any justification, then this should be a sign to you that it is time for you to look for another car insurer.
Most insurance companies will adjust their classifications for high risk areas which will affect insurance costs. Such companies are continually reviewing losses often associated to certain vehicle types.
This also means that if you car falls into the category of high risk cars then your insurance rate is highly to go up. If this is the case, then this should be a sign to you to look for an insurer who has not yet classified your car as a high risk car and buy your car insurance from them.
When you have improved your credit score
Improving your credit score can significantly have an impact on your insurance rates. If your credit scores have risen say by 100 points or even more during the last few years then you are most likely to find a much cheaper car insurer.
You must also be aware of the fact that not all car insurers will put an emphasis on low credit scores when calculating insurance rates but some will do.
If you find that your current car insurer has calculated your insurance rates based on your credit score, this should be a sign for you for you to look for a car insurer.
Look for available better car insurance offers
Most car insurers are always offering lower insurance rates for new customers; this may seem attractive, but over time the offer and discounts phase out.
It is therefore advisable for you to look around and see what offers or discounts are being offered by other car insurers and get the best deal.
You should also remember that buying car insurance should not be a commitment for life.You are free to change a car insurer after a certain period of time, especially if you are being offered a good discount by another car insurer.