Sarah Brown, president and CEO of Keller-Brown
Insurance Services of Shrewsbury, Pennsylvania,
notes it’s not necessarily a matter of time but
life events that can cause rate changes. She sees
the biggest rate inflation when customers add
a young driver to their policies or buy a new
vehicle. She says it’s best to shop around before
you’re hit with higher rates.
“You may qualify for a preferred pricing tier
before the young driver is added,” for example,
but you may not qualify after, Brown says.
Customers considered “preferred” by insurers
tend to have clean driving records and credit
histories, and receive the best rates.
Other times you should compare rates include:
— After you’ve had a car accident, DUI or
traffic ticket.
— Before moving or relocating.
— When you want to change what your
policy covers.
PRICE ISN’T THE ONLY FACTOR
Drivers should consider more than cost
when choosing an insurer, including things
like the company’s reputation and customer
satisfaction scores.
“It’s very easy to be seduced into focusing on
the price. But you’re buying this insurance to
protect yourself against that fateful day when
something happens,” says Harvey Rosenfield,
founder of Consumer Watchdog.
To learn more about a company, you can look up
complaints to insurance commissioners or find
auto insurance reviews online.