Here at Henry Insurance Service, we’re always trying to get the best rates and coverage for our customers. We recommend shopping for car insurance every 6 months for quotes, as you could be putting more money in your pocket! There’s a number of factors for shopping every 6 months.
Here’s some reasons for shopping to save on car insurance premiums:
- Car insurance companies are constantly changing rates. To account for different risk factors they must do this, so premiums can go up and down by the day. Different seasons like tornado season, hurricane season, etc. can cause rates to change. Anything that might cause an increase in claims will cause companies to increase rates. The ups and downs of these rates must be approved by your state’s insurance department.
- States are constantly changing laws and requirements for care insurance. Louisiana’s insurance department sets the legal requirements for liability and other coverage options, meaning that you may need more coverage or less coverage to be compliant with the law.
- Changes to your credit score can affect your car insurance premium rate. Car insurance companies check your credit score in most states because research has determined that there’s a relationship between your credit score and the likelihood of you being at fault in a car accident. If your credit score is poor, you will pay possibly hundreds more a year than drivers with high scores.
- Your driving record can change your car insurance rates (but not forever). Tickets, traffic violations, and at-fault accidents can stay on your record forever, but it won’t affect your premium rates forever. After a certain number of years, violations or accidents cannot be held against you.
- Major life changes can affect your car insurance rates. Life happens fast, and a lot can change in 6 months. Here’s some changes that will affect your insurance premiums:
- Birthdays: the older you get, the less your premium will be! Car insurance premiums drop once you get to age 20, and will continue to drop until you hit 60.
- Adding a new driver to the policy: Anyone living under your roof must be added to your policy to make sure the vehicle is covered, and there’s a chance this could increase or decrease your policy. A multi-driver discount could be applied to your policy, or it could go up depending on the driving record of the driver you’re adding, or if you have a teen driver.
- Your neighborhood: If you move frequently, you should be shopping for new insurance quotes because insurance companies consider the crime and traffic rates of where your car spends most of its time. If you live in a high risk area, you will likely have a higher insurance premium. If you are a new homeowner, you could get a big discount from your car insurance company!
- Marital status: Research has found that drivers we have never been married are 2x likely to be in an accident than married people. If you and a spouse have compatible insurance policies, merging them into one policy can save you some serious cash! How do you determine if your policies are compatible? Your driving records, credit scores, vehicles, and mileage are factors.
- Education: Your education can affect your car insurance premiums! The more educated you are, the lower your premium will be.
- Six months of coverage: Once you have car insurance for at least 6 months, you’re considered a safer risk and you can get discounts for loyalty and continuous coverage. If you wait 6 months or more, you will get better coverage because insurance companies will give new customers lower rates simply to get their business.
- Depreciated vehicles: Because your car depreciates every year, you shouldn’t be paying the same insurance rate year after year. A 5 year old car model will spend 20% less on car insurance than new models. Check your policy every six months- year to refresh discounts and coverage options.
Contact an Insurance Expert
Car insurance is actually meant to save you money- to protect you as a driver from any financial loss if you’re involved in an accident that’s your fault. However, it doesn’t always seem that way when the monthly premium bill is due. Since having to pay for insurance is not an option, it’s a relief to know that how much you pay in coverage is up to you.
It is recommended that you shop around for car insurance about every 6 months if you really want to get the best deal. Or, you could have a Henry Insurance expert do that for you! Give us a call at 225-927-0451 and check here to learn how to switch car insurance!
You can get a quote right here today!