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Cheap Auto Insurance for Teens
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Credit History Factors and Car Insurance Rates
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How to Find Car Insurance Discounts
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Keeping Your Auto Insurance Rates Affordable
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Are You Looking for Auto Insurance Discounts?
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Auto Insurance Buying Tips
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Auto Insurance - What's In Your Policy
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Why change to a new auto insurance carrier?

You need to regularly review your auto insurance coverage to make sure you are receiving the best insurance value for your money. You will discover that it pays to shop around. In some states, premiums for identical policies vary widely among different auto insurance companies. The reasons for this price variation can be very complicated, but they boil down to a company's claims experience with policyholders in a coverage group (e.g. people of similar age, number of accidents, type of vehicle). For example, if a large number of people in a coverage group files claims during a given year, their rates will likely rise. When this happens, better discounts and lower overall premiums may be available at other insurance companies. When you decide to switch your auto insurance to another company, you’ll find that it's fairly easy to do so.

How to cancel your old auto insurance policy

Generally, all you need to do to cancel your auto insurance policy is to inform your insurance company in writing, specifying the date you want the policy canceled. Don't just walk away from the old policy without formally canceling it. Each state requires that auto Insurance policies be cancelled with notice, thus the insurance company might assume one wished to continue the coverage, and it might eventually terminate the policy for failure to pay premiums and report the lack of coverage to the state Department of Motor Vehicles. This can hurt your credit rating and ability to get a new policy.

Be sure to get a new auto insurance policy first

Always have a new policy in place before canceling the old auto insurance coverage. Otherwise you might have a gap in protection for a day or more! The new company will be able to time the beginning of the new policy to coincide with the cancellation of the prior coverage.