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When your auto insurance is close to renewal, the easier approach is to stay with the same insurer and continue paying the same premiums as before. Nevertheless, this could prove costly later on. There is always a possibility of getting a better deal when you switch your Laurel, MD insurance provider.
At Mid Atlantic Insurance Financial, we recommend that you shop for a new insurance carrier after every 2 or 3 years. When you shop around, you could end up saving between 5 and 50 percent each year. But when you do find a good rate and make the decision to change your carrier, keep in mind that sloppy transitions often lead to gaps in your auto insurance coverage. Follow these steps to guarantee a successful switch:
Shop Around
Many policies are issued for durations of 6 to 12 months. The best time to start looking for a new carrier will be when:
- You move to a new state
- You’re remaining with a month or two before the policy lapses
- You purchase a new car
When looking to change your insurance provider, make inquiries pertaining to liability protection as well as bodily injury protection.
Establish whether there are Potential Penalties
When you decide that changing your carrier is the ideal move, determine whether you will be penalized for switching before the coverage period comes to an end. Insurers typically allow clients to cancel their policies at any time, but the clients are often required to provide advance notice. If you choose to cancel midterm, inquire from the insurer on the kind of penalties that will be imposed.
Investigate the New Insurer
Thoroughly investigate each insurer before you sign up. Check to confirm if other clients are happy with the way the insurer resolves their claims. Do not just sign up because they are promising lower rates than your current insurer.
Mid Atlantic Insurance Financial provides different auto insurance coverage options in Laurel, MD. Feel free to visit, email, or call our offices for all your auto insurance needs.