With the coronavirus pandemic still hurting people’s paperbacks, auto insurance companies are responding by lowering their rates.
So when the time comes to renew your insurance policy, don’t go the expected route and just let it auto-renew as you normally would.
As you can see, this is an ideal time to look for a better deal. Even if you are not near your renewal date, you can still cancel your policy and receive a refund.
The big auto insurers left and right are lowering their premiums and responding to market demands. Customers assume that because they drive so much less, they should pay so much for car insurance.
The market research company J.D. Power says U.S. auto insurers have cut rates and reimbursed customers a total of $ 18 billion since the pandemic began.
Large insurers such as State Farm and Progressive are now planning to lower their tariffs further, according to recent records from a number of state insurance regulators.
So it’s a good time to look around. You need to get quotes from different sources to make sure you get the best deal.
So how do you know which companies to get offers from? We recommend that someone else do all of the hard work for you.
A free website called Get it helps you find the best price – in just 30 seconds. In fact, it saves people an average of $ 826 a year.
All you have to do is plug in your current insurance. Then Savvy searches hundreds of insurers for a better price on the same coverage. It even helps you cancel your old policy and get a refund from your current insurer.
If you find a better dealYou can switch immediately and don’t have to wait for your next renewal or even your next payment.
Even if your car payment is pretty much set in stone, your car insurance costs are not. There is something you can do to save yourself money, and now is the best time to do it.
Mike Brassfield ([email protected]) is a senior writer at The Penny Hoarder.
This article originally appeared on www.thepennyhoarder.com