Changing addresses
It’s a great time to celebrate moving into a new house. However, did you know that your location can impact the cost of your auto insurance? This is something everyone should be aware of. Your insurance company should be notified immediately if you change your address. It may mean that your rates could drop. There are many factors that can affect the cost of insurance. These factors include the crime rate, population density and accident statistics specific for the area. Income levels in general can also impact how much you pay for insurance. Inform your insurer about the changes and ask for a better rate.
The Family Has a New Driver
It is both an exciting and terrifying experience for your teenager to get their driver’s licence. Before your teenager reaches this milestone, you need to contact your insurance provider. In some states, a teen must be insured before a license can be issued. In North Carolina, for example, you will need to be insured before you can get a license from the DMV. Non-owners insurance is required even if you don’t own a car. To find out what you need to do, check your state laws. You may only need to have insurance if your vehicle is owned or you plan on driving. In the event of an accident, you won’t be covered if you don’t add your child. This can lead to a nightmare situation!
This life-changing event can have a negative impact on your insurance rates. Although there will be an increase in premiums, you can still get better deals if you do your research and contact the right people. Talk to your insurance company to find out about special discounts for teenage drivers. Teenagers on the honor roll and with a minimum 3.0 GPA may get lower rates from some companies. Many will consider that the teenager has completed and passed a driver’s education course. You can ask, and some insurance companies won’t give this information unless you ask.
Marrying
You will need to make many changes when you get married. You will need to change your name at the social security office, change your address at the post office, and many other things. It may seem like there is too much to do. Your auto insurance company should also be informed of your marital status. Combining policies with your spouse can often result in a significant discount. This is something you should be aware of. This applies to married couples as well. You can also take into account domestic partnerships for discounts. There are many places where you don’t even need to combine your policies to get a better rate.
Job Status
It may be worthwhile to inform your insurance company if you recently became employed. Rates will be affected by how much you drive your vehicle. The distance you drive each day to work may not be considered. Although some companies don’t take distance and commute into consideration, it may still be helpful in certain cases. This can reduce the amount you pay each month. If you’re unemployed, every penny matters!
Rates can also be affected by the type of work you do. You may be a teacher, nurse, or civil servant (police officer/postal work, firefighter, etc.). You may be eligible for a substantial discount if you are a teacher, nurse, or civil service worker (police officer/postal work, firefighter, etc.)
There are many factors that can affect how much you pay for auto insurance. You can always call the company to verify whether you need to report a specific change. Always ask questions if you are unsure. You might be able to save more money by asking.
