If you have a long term car insurance policy with one provider, eventually there will be changes that can impact your policy costs. The changes can either cause an increase or decrease in your premiums. Many insurance experts recommend that you re-evaluate your insurance policy at least once a year, however, if there is a sudden change that you know will impact your policy, you should re-evaluate your policy right away. Below is a list of situations where it is wise to re-valuate your car insurance policy:

Driving Record Change: If you have gone a long period of time such as 3 – 5 years without a traffic violation, you should contact your insurance provider as each provider will lower insurance premiums for those who have maintained a clean driving record. In order to receive cheap car insurance, drivers must show that there is a low risk that they will receive a traffic violation, file a claim, or have claim filed against them.

Move to a New Area: Drivers that live in an area that is considered high risk such as a risk of theft, vandalism, accidents due to high traffic, and then move to a region that is consider lower risk such as more rural and less criminal activities, they should revaluate their policies as they may be able to get a lower rate.

Change of Vehicle: If you have been driving an expensive vehicle such as a luxury car that is expensive to insure, and you are considering selling or trading in the vehicle to get a vehicle that costs less to insure, you should revaluate your insurance policy and do some research on the cheapest cars to insure.

Lifestyle Change: A driver’s personal lifestyle will affect the amount they pay for their insurance. If you have recently married, had children, changed from a high risk job to a low risk job, or have divorced and want your former spouse removed from your policy, you should re-evaluate your policy and contact your insurance provider.

Because we are legally mandated to have car insurance before we can drive, it is advantageous to try to keep premiums as low as possible. Reassessing and notifying your insurance provider will ensure a cheaper policy. As well, comparison shopping for cheap car insurance is another way to keep your insurance costs low.

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