| Login | Sign Up
Contributor
sindian
Posts: 50
Registered: ‎31-03-2016

Is changing car insurance companies every renewal for a lower rate a bad thing?

Is changing car insurance companies every renewal for a lower rate a bad thing? Are there negative consequences?

1 ACCEPTED SOLUTION

Accepted Solutions
Regular Contributor
Arti
Posts: 199
Registered: ‎30-08-2021
Solution

Re: Is changing car insurance companies every renewal for a lower rate a bad thing?

Dear Sir/ Madam , 

 

There are no negative effects that directly result from changing your auto insurance provider.Auto insurance providers calculate your rates by conducting a risk assessment, and being involved in a crash will often cause your rates to increase

 

View solution in original post

2 REPLIES 2
Occasional Contributor
Sami
Posts: 8
Registered: ‎30-05-2017

Re: Is changing car insurance companies every renewal for a lower rate a bad thing?

Well, to be honest it depends on what you value. I personally think that brands which have a good repute and offer great service would be my choice even if the premium may be slightly higher than what the competition is offering.


But if you are really not satisfied with the services of your Insurer or there is a huge gap in premium, then yes, you could consider another Insurer. I recommend you check the credentials of the company before you make up your mind. 


You could simply log on to the website of Insurers and check the premium. Make sure you do an apple to apple comparison since lower premiums may not nescesssarily offer you the same coverage; usual check points would be IDV/Sum Insured, Optional Add on covers etc.

Regular Contributor
Arti
Posts: 199
Registered: ‎30-08-2021
Solution

Re: Is changing car insurance companies every renewal for a lower rate a bad thing?

Dear Sir/ Madam , 

 

There are no negative effects that directly result from changing your auto insurance provider.Auto insurance providers calculate your rates by conducting a risk assessment, and being involved in a crash will often cause your rates to increase