Renewing a Policy on Time

We've all had that moment, usually after a long workday, when you come home to find a piece of mail from your car insurance provider labeled "urgent." The envelope in question usually contains a letter to notify you that your current policy period will soon end and, should you wish to renew, you must contact your agent. You absentmindedly review the enclosed quote and casually toss the envelope onto the coffee table making a mental note to check out some other companies before renewing.

Two weeks later, you find the envelope while cleaning, check the date, and realize your policy needs to be renewed tomorrow or you'll risk a lapse in coverage. Unfortunately, you've run out of time to compare quotes and you're forced to take the same policy again. You quickly dial your agent and renew your plan just in the nick of time. Six months later, the situation repeats. Period after period, you stay locked into the same premiums without ever realizing how much money you're throwing away.

Staying Organized

If you're like most busy Americans, you assume you don't have the time to compare quotes. You might feel that because your current premium seems to fit into your budget, then there is really no point in taking on an extra chore. However, like most drivers, you're probably unaware of how much less you could be paying for an identical plan, or even add extra perks like accident free coverage.

Although you may lead a chaotic and busy life, you should do your best to keep your car insurance information well organized. Next time you receive a renewal notice in the mail, tape it to your bathroom mirror or prop it next to the coffee pot - anything it takes to remind you of the impending due date so you can be ready to make the right choice. If you choose to renew your current policy, mark the date that your current period will end on your calendar, in your daily planner and set a notification on your cell phone so you'll be prepared.

Comparing Quotes

Many people falsely assume that their current provider offers the cheapest plans available. However, because auto insurance is a very competitive market, rates are constantly changing. It might be true that when you first signed up for your policy, it was the best you found - but how long ago did you enroll? It's highly likely that the market has changed since you first enrolled.

Comparing quotes is a great practice to get into, and is much easier than you might've thought. As many drivers have already discovered, comparing quotes and switching providers is saving them 10%, 15% or more every year. All you have to do is fill out our simple form, and you'll be quoted some of the lowest prices available in seconds. You may find that your current policy really is the cheapest. If that's the case, then you can renew your plan with confidence. However, if you find that there are cheaper options, it may be time to switch.

If after reviewing quotes, you're still not convinced you want to switch providers, then you should contact your agent to discuss changing your policy. Most times, your agent will be thrilled that you've chosen to continue with them and more than happy to discuss more affordable plans. When you renew your policy on time and have time to make changes, you may be able to add or remove different types of coverage in order to bring your rates down. However, keep in mind that your auto insurance policy is not a life sentence and that at the end of every period, there's no reason not to get a better deal.