Are you planning a big move? While you may have thought through everything, from making the room in your schedule to booking truckload shipping to move your belongings, many people forget to think about how the move will affect other aspects of their life. One major thing that may be affected is your car insurance.
Do you know how car insurance can change during a big move? Have you budgeted to ensure this change won’t break the bank or make the move more stressful? Today, review what you should check on your insurance before you move.
Moving from one location to another can greatly affect your car insurance rates, even if you only move a short distance. ZIP code is just one of the many variables that can affect your car insurance rate. Insurance companies also consider whether or not your commute distance will increase.
Of course, the opposite is also possible: your car insurance rates could decrease. If you move into a neighborhood with fewer accidents or lower crime rates, for example, your company may offer lower car insurance rates.
The critical point is to remember that the rates may change, and you want to be aware of those premium shifts.
There are several ways to check on what your rates might be post-move. Using a car insurance calculator is a simple, easy way to check potential rates yourself at home. If you are already working with an insurance agent, call them to talk through what your new rates might look like, as they can give the most accurate estimates.
Now that you know car insurance rates are affected by location, you might wonder what other variables can cause premium changes.
Some of the factors used by insurance companies include the following:
Let’s say that your move involves you going from one state to another. Many drivers don’t realize that insurance rates, coverage guidelines, and policies are monitored and mandated at the state level. This means that changing states could cause your insurance premium and coverage to change dramatically.
Call your agent or do some research online if you’re planning on changing states. You want to ensure that your insurance company works in your new state and you can get the proper coverage at a reasonable rate.
Have you discovered that your car insurance rates are likely to increase when you move? If so, it’s time to research different ways that you might be able to save some money.
Review what exact coverage is included in your plan. Not all car insurance coverage options are worth it. You may be able to reduce coverage for teen drivers if your teens have grown up or otherwise decrease how much you need to pay by reducing coverage.
Are there any additional discounts that might be added to your plan? Your agent can help you locate discounts that you have been missing out on. There might be discounts that you are now eligible for that you weren’t eligible for before, so don’t count this one out if you have previously looked for discounts.
In some cases, the only way to reduce the cost of your coverage is to switch insurance providers. Every provider uses different variables to determine premium rates. Changing providers may allow you to find a better balance for your current location and needs. Shop around for quotes to determine if this will make a difference in your coverage.
While not ideal for some drivers, others will benefit from raising their deductible to lower their monthly costs. Whether or not this solution makes sense will vary depending on your financial and vehicle situation, but it is worth considering when trying to reduce costs.
Beyond car insurance, there are a few other things to consider about your car as you get ready to move.
If you are driving your car from one place to another during your move, ensure that you have roadside assistance in place through either your car insurance or your supplemental coverage. This will enable you to get quick, affordable assistance if something breaks down. Roadside assistance will ensure that you can keep moving!
If you are shipping a car from one place to another, you’ll want to double-check both liabilities and insurance cover to ensure that the vehicle will be covered even if something goes wrong.
When planning your move, there are several things to consider; don’t let your car and car insurance coverage fall by the wayside. Keep your cars on your priority list.