When should I change my auto insurance?

Getting married could mean changes to your auto insurance

Auto insurance is necessary for all motorists to ensure they are covered in the event of an accident. The ability to compare car insurance quotes online has made obtaining coverage much easier, as you are now able to compare and contrast policies from the comfort of your own home. 

There is a good chance you won't have the same auto insurance for your entire life, and there are numerous times when switching providers or policies can be a great idea, including:

You purchased a new car

Any time a new car is purchased, drivers will likely need to update their auto insurance policies, according to Forbes. It is important to know that not all cars come with the same rates, as some can carry a higher risk. Vehicles that are more expensive may also require more insurance, because damages related to a crash would likely be more costly to repair.

You recently got a traffic ticket

Getting into an accident that was your fault can all but guarantee that your insurance premium will increase. But, if a simple traffic tickets raises the cost of your policy, it may be time to find a new one. Online insurance quotes are a great resource, so you can find the policy that best fits your needs and is the most affordable.

You were recently married or divorced

Another life event that could lead to people needing to update their auto insurance is getting married. By adding a spouse on their insurance policy, they could save money as opposed to having two separate policies.

On the contrary, those who have recently been divorced may want to take their spouse off of their policy to save money. If the couple had a teen driver, their custody agreement will likely determine whose plan the youngster will be a part of moving forward.

You paid off their car

When purchasing a car, many people choose to finance it as opposed to paying in full. During the period in which they are making payments, they are required by the lender to have specific level of insurance. After the car has been paid off, people may want to consider updating their auto insurance policy. Both deductibles and coverage rates can be changed, and potentially save them money.

You moved

The area a person lives in has an impact on their auto insurance rates. If he or she lives in a town or city that has a high crime rate or history of claims, they may be offered higher rates from their insurance provider. For this reason, people who move may want to contact their insurance agent to see if they can get a reduced rate. A move could also change the primary usage of the car, as well as its garaging, both of which can change an auto insurance plan.

You have a new teen driver

People who have a new teen driver in the home may also want to consider updating their auto insurance policy by adding their child. This could be cheaper than buying their teen driver a policy of his or her own. They may also be able to take advantage of discounts that providers offer to teen drivers, such as discounts for good grades or safe driving courses.

You joined a carpool

Those who have recently joined a carpool could benefit from updating their auto insurance policy. This would likely reduce the amount of mileage they put on their car and change their primary use, which could lower their insurance rate. Some auto insurance providers also offer people who participate in carpools a discount on their policies