Moving to a new house in a new stat or city can be exciting times. It also means that there will take a lot of cancellation of subscriptions and updating of information for a lot of products and services that your household enjoyed in your previous home.
With car insurance, it’s the same. What you probably don’t know is that you could save money on your premiums once you move. On the other hand, it could also increase the premium rate.
Let’s take a look at the things that affect car insurance when moving.
You have to cancel if you’re moving to another state
Moving to a different state means your car insurance policy will have to be canceled. You will have to get a new one from the new state you will call your home.
Not all states have the same minimum requirements in terms of coverage. And the same could be said with auto insurance companies as well.
Try to get the same carrier if you’re moving to another state
Ring up your agent and ask them to assist you if their insurance company operates there as well. Keeping the same carriers can be very beneficial for you as you could get a competitive premium rate for keeping the same carrier.
If you are also tagged as a safe and low-risk driver by this carrier, having their recommendation could help a lot, too.
New address could mean new risk levels
When moving within the same state, there is no need to cancel your policy. However, as we have mentioned, your premium rate could increase or decrease, depending on how your new community is viewed.
If your new address has a high crime rate, a more significant population, or perhaps more deer are crossing the highway. Then you could be facing an increase with your monthly premiums.
If you believe the risk levels are much lower than your current address, then ring up your agent to get a new quote to get those premiums down.