Sending a child away to college is ridiculously expensive, but when a child leaves for college, parents can save hundreds of dollars by updating their car insurance.More >>
Moving is a stressful time, with coordinating your moving efforts and figuring out all the logistics. However, when you move you will also need to get a new car insurance policy. Since where you live is an underwriting factor that car insurance companies use to determine how much you are going to pay for car insurance, you need to update your car insurance policy when you move.
Why Do I Need to Change My Auto Insurance Because I Move?
It is a good idea to update your address information with your insurance company as soon as you can. If you get into an accident before you update your insurance information, your insurance provider could refuse to pay any claims that stem from the accident. Before you update your information, it's a great time to shop around for the best auto insurance rate for your new address.
What Will Cause My Car Insurance Rates to Change?
If you are moving to a new state, it's imperative that you check with your current auto insurance provider to see if they are licensed in your new state. If they are, their rates might be a lot higher then what you were paying before you moved. Also, certain states like New Jersey, Washington D.C, New York or Massachusetts, historically have the highest average insurance rates. So if you are moving there, you should definitely shop for the best rate.
Location and Car Insurance
Even if you are moving within your current state, you still need to update your car insurance policy. If you are moving from the country to the city, your insurance might increase; the inverse can happen as well. Maybe you are moving closer to work, thus lowering your annual amount of mileage.
Car Insurance and Homeowners Insurance Savings
If you bought a new home, you are going to have to purchase homeowners insurance. Many insurance companies offer discounts for insuring your home and your vehicle together. Having multiple policies with one insurance company can help you find savings on both insurance policies.
When you move, it is a great time to compare multiple car insurance quotes. Being that where you live has an affect on your car insurance costs, comparing car insurance quotes can surprise you with savings. Save on your auto insurance by filling out the InsWeb form to compare multiple insurance companies and their associated rates by clicking here.
The information contained on or provided through this site is intended for general consumer understanding and education only and is not intended to be and is not a substitute for professional financial or accounting advice. Always seek the advice of your accountant or other qualified personal finance advisor for answers to any related questions you may have. Use of this site and any information contained on or provided through this site is at your own risk and any information contained on or provided through this site is provided on an "as is" basis without any representations or warranties.