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How to Switch Your Car Insurance

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Whether you’re looking for information on how to switch insurance to your new vehicle or just switching coverage levels, switching car insurance is a relatively easy process. In fact, we’re here to explain how it works in just four simple steps! Ready to learn all about how to switch your car insurance? Let’s dive in right now.

 

 

A Primer on Switching Car Insurance

After the automotive financing process, the process of getting car insurance or changing it out is one of the least understood. But the reality is that it doesn’t have to be. In fact, with the right guidance, switching car insurance is quite simple. In the below guide, we’ll explain everything you need to know.

Step 1: Assess Your Situation & Needs

What kind of car do you have? Is it new, or does it have an outstanding loan balance? If so, you’ll probably need comprehensive & collision coverage. Talk to a financial advisor and/or insurance broker about your financial situation, and be honest. Can you afford to pay out of pocket for an accident? These are the types of things you should think about in determining how much and what coverage(s) to get.

Step 2: Shop for Coverage

Once you have a better picture of your situation and your needs, you can begin to shop around for different car insurance options from various companies like Geico, State Farm, Allstate, Progressive, USAA, and more. Don’t just look at different companies — make sure to compare the same coverage levels across different companies to be sure you’re getting the best deal. And don’t forget about discounts! Common reasons you could be eligible for a discount include:

  • Having a good driving record
  • policy with multiple cars on it
  • Being a student with good grades
  • Having safety devices in the car, including insurance trackers
  • Driving relatively few miles each year (decreases the likelihood of being in an accident)
  • Getting bundled insurance coverage (i.e. home or renters insurance + car insurance)

Step 3: Make Sure You’re Not Under or Over Insured

Being over-insured means your level of coverage is excessive for your needs and situation. Being underinsured, conversely, means that you don’t have sufficient coverage to manage risk in the event of an accident, leaving you with too many out-of-pocket costs.

Remember, you shouldn’t automatically opt for your state’s mandated minimum amounts on coverage just because it’s cheaper. You want to talk to an insurance broker or agent to jointly come up with a coverage level that meets your needs. That is what they are there for — to help you manage risk!

Step 4: Get in Touch With Your New & Old Insurance Providers

Once you’ve decided on a good coverage level and selected a policy that meets your needs, it’s time to make your selection with your new insurance provider, if you’re switching companies, such as if you’re looking to switch insurance companies. If you’re just looking to switch insurance to a new car with the same company or update your current coverage limits, you’ll want to let your current provider know. If you are switching providers, you’ll want to let both your new and old insurance providers know about your decisions.

Contact Holiday Automotive to Learn More

Do you have any other insurance or finance-related questions? Don’t hesitate to call us at 866-807-8084 here at Holiday Automotive! Looking to get a new car financed as well as insured? Apply online now.

 

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