If you or someone else on your policy are classified as “high-risk” by your insurance company, your premiums will skyrocket. There is no choice but to accept the higher cost. However, after two years of safe driving, and paying high premiums, it may be time to search for new insurance that is cheaper. A new company may be able to start you out at lower premiums for similar coverage.
Moving to a different address can also impact your car insurance policy. Different areas are not rated the same by insurance companies. Your insurer will adjust your policy’s cost after the move. This is a great opportunity to see what other insurance companies are offering in your new neighborhood. Moving from a city to a rural area could result in hundreds of dollars in savings per year.
Insurance companies will typically look at the last five years to determine what kind of driver you are. If you have no incidents in five years, you may ask any insurance company you do business with to recognize that they should be offering their best rates. If they offer anything less, you should start hunting for a new policy. It is very easy to find car insurance rates online, where you can find quotes from several reputable insurance companies who are eager for your business. Don't be afraid to ask for discounts! Good luck!