Keeping Auto Insurance Costs Down When Moving To A New Area
Taking out auto insurance has all kinds of costs attached to it, but one many people may not be aware of are the costs involved when you move location. Depending on where you move, your auto insurance premium could either go up or possibly even down in price. This is because your auto insurance is based on more than just your own driving record – it also takes into account factors such as insurance laws in each state and the break-in history in the area in which you are moving to.
How populated your new location is can also be a factor that could increase your rates, as could the level of theft in your new location. Let your insurance company know as quickly as possible when you move or are considering a move to a new state. It might be a good idea to get another auto insurance quote from a different company regarding what your rates will be in your new state; as it may turn out to be in your best interests to change who you hold your policy with. There is, of course, another reason to inform your insurance company as quickly as possible when you have moved. If you have had an accident before you have even informed them of your change of address, the company could refuse to pay out. It is also possible that your current company may not actually be able to cover you in the new state. Therefore, you need to contact your insurance agent as quickly as possible upon moving.
If you can maintain your current policy with no change, then there is no problem. If the agent is incapable of continuing your policy in this new state, or the move would result in a hefty increase on your auto insurance premium, then that would give you more time in which to shop around for more affordable car insurance quotes. Research the mandatory insurance requirements in your new state, so that if their insurance laws are going to make it necessary for you to add further coverage to your existing policy, such as personal injury protection or underinsured and uninsured motorist coverage, you are aware of it ahead of time. If you are intending to change your insurance agent when you move, be sure to cancel your current policy in advance, otherwise you are likely to continue to be charged for your current policy even after you have moved.
Moving to a new area can be a costly business in terms of auto insurance – but careful forward planning can help ease the pain. Look into your new area, speak to your agent, and get quotes beforehand.
