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Auto Insurance

When is it Time to Shop for a New Insurance Carrier?

online auto insurance
online auto insurance

What would happen if, while you were on the way to work, you tried to swerve on the road to avoid being hit in a car accident, only to be rushed to the ER? Then, while you were at the ER, you found out that you’d accidentally swerved into a pole? What if doing so caused the pole to fall and knock down electrical wires, causing fires that were right by your home, and your home ended up being a casualty of the electrical fires?

It’s highly unlikely that this type of scenario would ever happen, but if it did, would you be covered by your current insurance? Do you have both types of necessary coverage in the event that catastrophic events like this were to occur? Would your rates go up, even though the events happened at no fault of your own? 

If you can’t answer these questions confidently without researching your plans, it may be time to find a new insurance carrier. You might want to consider a new carrier for car insurance, homeowner’s insurance or maybe even both.

Deciding to Change Insurance Carriers

Bundled insurance plans are popular because they tend to offer discounts for solid coverage. In many cases, auto insurance and homeowner’s insurance will be on a plan through the same company. There are several reasons why customers would switch plans if a catastrophic event happened. 

For one, it’s common for insurers to raise prices of both your home insurance and your auto insurance if anything occurs that has a negative impact on either your car or your home. Premium costs aren’t the only reason, though they are a common reason that people switch insurance companies. Let’s look at some of the reasons why people decide to change insurance companies. 

Disappointing Customer Service Experience

One of the reasons why people change insurance carriers for either home or auto insurance is because of how things carry out after they’ve filed a claim. After filing the claim, they may find out that their insurance company doesn’t handle customer service well. Ideally, when you file your claim, it will be a smooth and almost effortless process that follows. If your insurance company has less than stellar customer service or claims handling, it may make you want to switch companies. 

Premium Prices Increase

Another reason why people commonly switch companies is constant rate increases. If it seems like an insurance company keeps making rates more expensive, it may cause someone to switch their plans. If an insurance company has constant rate increases on auto or homeowner’s insurance, it makes people less likely to stay with their current carrier and sends them looking for a new one. Keep this in mind as you shop for new insurance policies. 

Restricted Coverage for Your Area

If you’re moving, your insurance carriers may not cover the new area. This is a fairly common reason why someone may want to switch insurance carriers. Home or auto insurance shouldn’t be hard to obtain when you find a good company. If you’re moving, make sure to check on whether or not your current carriers provide coverage in the area. If they don’t, ask your current carrier for a referral or recommendation for an insurance company in the new area. 

Lack of Coverage

Lack of coverage happens when you have to file a claim and find out that either your coverage doesn’t cover what occurred or that they only cover minimal expenses for your homeowner’s or auto insurance. This means that as a customer, you stuck it out through costs of renewal and price increases, only to find that your home or vehicle isn’t as covered as you’d thought. A lack of coverage would be a compelling reason to shop for new insurance. 

Annual Renewal Time

It’s a good idea to sit down with your current insurance policy once a year and look it over. You want to make sure that you have enough coverage for your needs. Maybe you’ve added a few pieces of priceless art, or you’ve expanded your jewelry collection. Or maybe you bought a newer car that comes with roadside assistance, removing the need for add-ons you paid for in the past. If this is the case, you’ll want to be able to change up your insurance plan to suit your current needs.

The renewal period is also a great time to shop around and look for discounts. Most insurance companies offer nice introductory rates for new customers to encourage them to switch from their current carrier to a new one. Shopping around will give you a good idea of whether or not you’re paying a reasonable rate for your coverage. You want to make sure that they offer enough coverage for everything you need before you make the switch. 

Shop for Insurance with Nsure

There are many reasons why people would make the decision to shop for new insurance. It’s common to search for better deals on insurance. If you find that your homeowner’s or auto insurance lacks something that you need or is priced too high for your budget, you may want to shop for new insurance on either your home or vehicle. If this sounds like you, contact Nsure. We’ll help you find a new insurance policy by pulling quotes from the top-rated companies in the nation.

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