Watch TV for 10 minutes and you’ll quickly find that switching to a particular car insurance company can save you 10 percent or 15 percent. Everyone knows that, right? But is anyone actually switching to a new insurance company?
Very few people bother to review their auto insurance policies annually, even though they really could save money. A June 2015 survey for insuranceQuotes.com found 66 percent of policyholders never or rarely shopped around for cheaper car insurance.
The survey also discovered the average American has been with the same vehicle insurance company for a dozen years with 14 percent sticking with one insurer for 20-30 years or even longer. Certainly these companies appreciate the loyalty but are customers missing out on the opportunity for greater savings simply because they don’t take the time to comparison shop?
Here are five reasons to shop annually for cheap car insurance in S.C.:
- Your rate may have gone up and you didn’t even notice. Many people pay their car insurance in south Carolina six months at a time or they have it set to auto-pay from their bank accounts. That’s certainly more convenient than remembering to pay the bill monthly, but it also means you’re not paying as much attention to the cost and how it might be increasing year to year.
- You’ve had a change in your family life. Maybe you got married or added a new teen driver to the mix – both of which can impact your insurance. If you’ve married, it may be more cost effective for you to merge your car insurance policies to one company.
- Are you missing great discounts and incentives? Many car insurance companies offer special savings opportunities for safe drivers, good students and members of the military or veterans. As you’re shopping for insurance, don’t forget to ask about available discounts and make that part of your decision. Qualifying for discounts with one auto insurer could translate into savings that will make the switch worth your time.
- You had a speeding ticket or accident. Companies will differ on how they handle minor traffic violations like a speeding ticket as well as more serious accidents and even fender benders. If you had a recent speeding ticket and are now penalized with a rate hike, do some comparison shopping to see if another insurance company is less concerned about those minor violations.
- Another company might have better customer service. We all expect excellent customer service, so if your company isn’t treating you like a valued customer, it may be time to leave. Did you file a claim only to realize the process was difficult and time consuming? Was your insurance agent hard to reach and unresponsive? Read the online reviews of other insurers to find out how they treat customers and if your dollars are better spent elsewhere.
Thanks to a host of online tools, you can spend an hour or less comparing quotes. You may also consider how an independent insurance agent can save you money and help you get cheap car insurance in South Carolina.
You don’t have to wait for renewal time to shop around. Put a note on your calendar and make this part of your annual to-do list – the result could be a savings of hundreds of dollars and that’s definitely worth your time.
Learn more about Manning Insurance Services’ Car Insurance Policies.