Compare policies when you change car insurance. Another insurance company may offer a cheaper rate, but they may not offer you the same amount of coverage as you. Wondering how to insure your new car? The truth is that your current insurance policy will cover your new car from the moment you take it out of the parking lot, usually with the same level of coverage as your old car. However, if you don't have protection from liability or physical harm, you can end up stuck at the dealership or, worse, break the law.
Renewing your car insurance is often a simple process. Your insurer will contact you by mail or email with the updated rate. If you accept the updated rate, simply make a down payment or pay your renewal quote in full. If it's been a few months since you received your quote, the rates in your area may have been revised, which could decrease or increase the price you pay for your car insurance policy.
When changing car insurance companies, it's usually your responsibility to cancel coverage with your old insurer. If you lend your car to someone and that person causes an accident, Progressive may cover some of the damages they are responsible for. Even if you can't renew your old policy, you can usually buy a new car insurance policy without delay. You can pay for your car insurance policy by credit card, PayPal, online check, personal check, money order, or electronic funds transfer (EFT) from your checking account.
Switching car insurance is easy, but make sure that the coverages, limits, and deductibles in your new policy reflect what you have with your current insurer. While your rate might be lower when a new car insurance company quotes, its protection and claim compliance may not match the standards of your current insurer. During your progressive quote, you won't be able to select car insurance coverages that don't apply to you. Most auto insurers will look at the age and mileage of your car, as well as wear and tear, when evaluating how much your car is worth and, ultimately, the payment of your claim.
In the insurance world, claims are commonly referred to as losses, and the amount of losses a particular brand and model has can affect the cost of insuring. If you're interested in changing your car insurance company, you won't have to wait for your current policy to expire. For example, Progressive allows 30 days, which means that if you file a claim within that period, your new car will continue to be covered in the same way as your old vehicle. Your new insurance company can provide proof of insurance to your old company if needed, but it's generally not authorized to cancel a policy with another insurer on your behalf.
However, the vehicle must be regularly parked at your residence overnight for Progressive to insure it in your policy. If you plan to cancel your current car insurance policy, make sure that your new insurance policy is already in effect.