When to Change Your Car Insurance
Car insurance is the one thing all drivers have in common. Whether you drive in British Columbia or Newfoundland you need car insurance. Whether you drive a Lexus or a Honda you still need to have proof of car insurance coverage on you at all times.
Having insurance can help cover the costs to repair or replace your car if it’s damaged or stolen. It can also help pay for repairs and electrical or body work if you have an accident. It also protects your interest if you have a serious, fatal accident. Car insurance coverage ensures we don’t have to pay all car related expenses out of pocket if there’s an unforeseen event.
Once you have car insurance coverage, you need to stay on top of the situation, since there are times that it makes sense to change it up. Keep your car insurance policy up to date by reviewing the details every year upon renewal. If something needs to be added, removed or change you can do it at this time. However, there are also a few other reasons to change your car insurance in between renewal dates:
If you get a new car
This may seem obvious, but not all people know that car insurance coverage is actually based on the car as well as the driver. If you change your car, you also need to change your car insurance coverage. This applies to your primary car as well as any secondary cars you own. If you buy a new car or replace your old one you need to contact your insurance company.
Adding a new driver
If you want to add a new driver, such as your new spouse or a new young driver, to your policy, you need to change your coverage to include them. You can insure several drivers on the same car, one driver on several cars or multiple drivers on multiple vehicles. Of course, each new car and each new driver is an additional cost to your car insurance premiums.
During a life milestone
If you reach a milestone in life such as a change in your career, graduation from college, or a move to a new city, you need to change your car insurance coverage. These changes can mean discounts in some cases, or increases, depending on the circumstances surrounding your life milestone.
Moving to a new city or province
If you move to a new city or province, you need to notify your insurance provider and possibly change the coverage depending on the provincial rules. This will most likely also change the cost of your car insurance coverage.
If you think you’re getting ripped off
Shopping around for car insurance just makes smart financial “cents”. Why would you want to pay more for a policy if you can get exactly the same coverage for less? This means you change insurance providers, not just your policy.
If you want to know if you’re getting a good deal or if you could do better with car insurance coverage, use our online car insurance tool to compare quotes in just minutes.