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5 Reasons People Change Auto Insurance Carriers

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 | November 30, 2014

An insurance policy is like having a long-term relationship.  You want it to grow with you and even protect you. But sometimes your insurance company no longer fits your needs (or your budget) and it’s time to breakup. Here are the top 5 reasons why people look for a new insurance company:

1) Price – This may be one of the more obvious reasons for switching to another insurance company. You can shop the exact same coverage across multiple companies and you probably won’t see the same price twice. There are numerous factors that go into determining a rate, and sometimes they vary for companies. You should consider the coverage your auto insurance company is providing, as well as the reputation and the benefits the company can provide.

2) Poor Customer Service – You want people in your life who will listen to you when you have a question or a problem. The same holds true for your expectations of your insurance company. After a bad experience with a car insurance company, many people choose to reevaluate their options. Even loyal customers who have remained with a particular company for numerous years may consider a switch if they do not feel like they have a relationship with their insurance provider.

3) Lifestyle Changes – It’s important to disclose life changes to your insurance company to ensure the proper protection. Things such as a new car or new home in a new town, adding additional drivers, especially teenagers or drivers with poor records may affect your auto insurance rates. It’s also possible that an insurance company isn’t comfortable with the changes you’re making and may raise the premium to try to get you to change providers.

4) Benefits – You should be considering the amount of coverage you receive from your car insurance company but to lower your premium and not your coverage, you can consider the “perks.” Consumers will choose companies who have discounts that are applicable to their policies, such as multi-car discounts or student discounts.

5) Personal Preferences – Sometimes it’s not the coverage or the price but just the quirks that make consumers switch auto insurance companies. Restrictions, a poor online experience or poor company reviews can push a consumer to shop for a higher quality insurance company at an equivalent or sometimes cheaper cost.

 

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