Are Frequent Auto Insurance Quotes a Good Idea?
Wednesday, July 29th, 2009Many people frequently get an auto insurance quote to verify that the rate they’re paying is still the lowest. If you have a six month policy on your auto, you won’t see a rate increase until the policy renews. For example, if your policy renews in October and your insurance company increased their rates in July, you won’t see the rate increase until your policy renews in October. All insurance companies change rates whenever they want based upon their current profitability. If a company pays an inordinate amount of claims in a quarter, they may raise their rates in order to maintain profitability. It’s a wise idea to request insurance quotes in the month before your policy renews. When you receive your new policy, you can compare it with your current quotes.