Your car policy protects you from road emergencies. If you’re unhappy with your car insurer, you can switch. Let’s weigh the pros and cons of switching car insurance providers to help you choose the right one.
Reasons to change car insurance
Car owners must have insurance. Since it’s a legal requirement, shop around for the best deal and maximum coverage at an affordable price.
Why switch car insurers?
Better coverage & benefits
Switching to a car insurance company with more coverage at a similar price is always best. An insurance aggregator website lets you compare car insurance plans from different insurers. It aids in budget selection for your car insurance.
Limited network garages
Suppose your car policy company does not offer an extensive network of cashless garages for emergency repairs. In that case, consider switching to one that does.
Change in location
If you move, you can compare car insurance plans and switch to a new insurer.
Poor customer service
Insurance company customer service is another issue. Do you want immediate help in an emergency? You can switch car insurance companies if you’re unhappy.
The above reasons for switching car insurers are valid. It would help if you also compared plans to find a better deal.
Tips for switching car insurance:
Comparing multiple car insurance policies
Comparing them on an insurance aggregator website or a car insurance app is the first step to finding the best plan.
Before signing, check the insurer’s claim settlement history. Visit their social media pages and read customer reviews to understand their claim settlement process. Avoid ‘inexpensive or free’ insurance policies. Instead, choose a company and plan that fits your budget. *
Obtain maximum coverage
Buying a third-party cover will keep you safe but may not protect you after a car accident. Therefore, choose comprehensive car insurance for maximum coverage and get add-ons if needed.
Cancel your current policy
The final step in switching insurers is to notify your insurer in writing. It ensures you have told your insurer to cancel your policy.
When should you tell your insurer?
A 30-day notice is required to switch insurers. They may also lower your car insurance renewal premium, making you reconsider changing.
Switching car insurance companies during policy renewal is free. If you cancel the policy mid-term, your insurer may refund your premium pro-rata.
Cons of switching car insurance
Switching car insurance companies has drawbacks too:
- Some insurers offer lower premiums you may miss if you switch.
- Switching insurers may cost you great deals.
- Trusting your new insurer takes time.
Thus, you must weigh the pros and cons of switching car insurance companies and make a financially sound decision.
It’s best to compare car insurance companies and plans. Remember, leaving your car uninsured while searching for a plan could result in traffic tickets. You can always buy car insurance online and ensure that the renewal also happens online so you don’t have to go physically to the insurance office.
Get insured anytime, anywhere! Check out Bajaj Allianz General Insurance website to learn more and download the app now.
Insurance is the subject matter of solicitation. For more details on benefits, exclusions, limitations, terms, and conditions, please read the sales brochure/policy wording carefully before concluding a sale.