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You might think about doing a car insurance comparison before you buy a car insurance policy, but have you ever considered doing one after you buy a policy?
Once you conduct all your pre-purchase research and buy your car insurance policy, you may feel pretty secure that you've found the best policy out there. But car insurance rates change all the time, so a better policy could be available within a few months. In addition, insurers' A.M. Best ratings can change any time financial information is reviewed. That means that your insurance company may have an A rating when you first buy your policy, but may have been reduced to a B or C rating in just a few months' time. That's why it is so important to constantly monitor the financial standing of your insurance company and the rates of other insurance companies out there.
So don't put those comparison tools away once you buy your policy. Hold onto them and mark your calendar to conduct a car insurance comparison every few months. When you do a comparison, check your rate against other drivers average annual premiums.
|Jennifer Mathes, Ph.D.|