All of the major auto insurance companies have commercials claiming you can save hundreds of dollars if you switch to them..... the fact is.. IT IS TRUE. You really can save hundreds of dollars each year, year after year simply by switching insurance companies. What they do not tell you is WHY? The reason they do not tell you WHY is because if they did, their own insurance policy holders would be switching insurance companies too.
Honestly... switching companes is the reason you can save a lot of money and here is why....
Automotive Insurance Tip
Every couple of years you should get a new auto insurance quote. As your automobile gets older, it drops in value yet your insurance bill stays the same. The fact is... If you do not switch insurance companies you are overpaying. You are paying extra for coverage you do not need.
You overpay the most with new cars
Example: You buy an automobile for $25,000. You get it insured and drive it home. The moment you drive the automobile off the dealers lot it depreciates in value by thousands of dollars (now this car is used). Over the next year or two the automobiles value will drop the fastest. Three years later your $25,000 purchase may only be worth $18,000 Yet... the cost of your insurance remains the same because you have coverage for a $25,000 car. The longer you continue to driving the same automobile while using the same insurance company the more you will overpay.
(Example 2: Ten years later your car may have dropped in value from $25,000 down to $11,000. Now you are paying more than double what you should be paying for the same auto insurance coverage)
Even Worse ....
Even worse than just overpaying.... if you do get into an accident regardless of whose fault it is, the insurance company of the liable party will only pay a maximum of your vehicles current value. If the book value of your vehicle is $5,000 any amount of coverage you have above and beyond that amount is 100% profit for your insurance company and 100% of your money you are giving away..
More info.. Also, as you get older your risk of getting into an accident decreases, your insurance rate should should be decreasing as well.That is why switching insurance really can save you hundreds of dollars.
Get a quote today to insure your vehicle for its current value, not the value it was when you bought it! The savings are almost instant and the amount of money you can save is substantial.
Nobody should be overpaying for auto insurance... please share this page with a friend!