When It’s Okay to Drop Insurance
Check our blog about when it’s ok to drop insurance from a certain company. Also, get online auto insurance quotes from our website.
- When premiums have sky-rocketed without a reason. It is normal for car insurance rates to get more expensive if you have committed a felony, like being caught driving under the influence of alcohol, or after you made recent claims. And there are numerous other factors that can increase the value of premiums. If your premiums got more expensive without any apparent reasons, you should ask the insurance company to give some explanations. If they cannot provide ones or those provided are too ambiguous, you should change the carrier.
- You are not rewarded for loyalty. Every company wants to have loyal customers and should try keeping them satisfied and offer them some tiny bonuses. In the auto insurance industry loyalty is paid with discounts. If you have been a customer for more than 3 years with a certain company, then you should ask for a small discount. Talk with your agent about loyalty bonuses, how much they will save you and where/when to get them. If your company does not provide this type of reward, you should consider switching the carrier. On the long term, you may save more.
- The company has recently been implied in a scandal. Nothing ruins the image of a company than a public scandal. It will certainly make some people avoid buying products and services from them and even make current customers to drop them. Pay attention to the nature of the scandal. If there’s nothing about the provided services or pricing, then you should not drop, if they offer high quality services. Better ask a financial consultant before quitting. Having fewer clients may make the company increase premiums.
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