Auto Insurance USAA: How to Change Companies
There are lots of reasons to change car insurance companies. Maybe you found another company that offers the same coverage at a much lower cost. Maybe you got a new job and qualify for a group discount. And maybe you’re just dissatisfied with your current carrier. Whatever the reason, checking options on the web can be easy and quick.
Actually it makes sense to periodically review your auto insurance to make sure you’re getting the best coverage for your money. It pays to shop around. In some states, premiums vary widely between companies. That’s because one company could be getting a lot more claims being made on their policies and, therefore, their rates will increase. When this happens, you can often find better discounts and lower premiums with another company.
Canceling an old policy is generally pretty easy. All you need to do is let your present company know in writing what specific day you want your policy cancelled. The company may request you return your printed policy. They will certainly send you a request of cancellation form that you will need to sign and return. Don’t ever just walk away from a policy without formerly canceling. It can hurt your credit rating, as well as make it difficult to get a new policy.
However, always get a new policy in place before you cancel your old one. You don’t want to have a period of time, even if it’s just a day, without proper coverage, since most states have legal minimum requirements for auto insurance. Your new carrier can time the start of your new policy to coincide with the cancellation of your previous coverage.
Is there a better time to change policies? Not really! When it’s time to renew your old policy would be a convenient time to change, but it’s not necessarily better. Changing policies at any time works just as well. Just make sure you have no gaps in your coverage.
By the way, changing policies can happen while you wait. All you need is a copy of your current declaration page, your driver’s license and a down payment.