Why Shop Insurance So Often?

Good car insurance, homeowner’s insurance, and renter’s insurance is essential to protecting your assets and your health in case of a car accident, personal injury, or damage to your home. However, the process of obtaining good insurance can be tricky – many insurance companies make big promises with their marketing, but then fail to deliver – which means that you are spinning your wheels trying to find a quote online, all while providing personal information to companies all over. This also means lots of spam emails to sift through while you look for the best deal.

Not only does looking for insurance take a long time, it is often hard to understand the ins and outs of an insurance policy on the web. The jargon and legalese take a lot of energy to parse out. Furthermore, you may have a good idea of what kind of insurance you’d like and how much coverage you need – but without consulting a professional, you may be setting yourself up for unnecessary expenses.

Luckily, all of this headache and time waste can be avoided when you seek out a local insurance agent, who will meet with you and work with your situation to identify your insurance needs. At that time, your insurance agent will present you with good options based on your budget and coverage.

What many people don’t realize is that choosing an insurance policy is not a final decision – you’re never “married” to your policy or provider. Insurance rates vary greatly and change frequently, so it’s a good idea to assess the market every few months to make sure you’re getting the best rate.

So, why do rates vary so much between insurance carriers, and why is it important to shop for insurance so often? Well, all insurance companies use very specific metrics while assessing your file, and these metrics are unique to each provider. Some of the information used to calculate your rate is your individual risk factors, your home address, what it costs your insurance to conduct business in your area, how much money your insurance carrier plans to pay out in claims throughout the year, and many more.

Risk factors are important to consider when shopping for insurance. These include your age, type of vehicle (make and model), home address and whether or not you have a garage, your driving record and claims history, and credit rating.

At minimum, these factors change every year! Young drivers especially see their insurance rates decline with each passing birthday, as long as their other risk factors remain the same. If you are using a new vehicle, your new insurance rate will change. When you move, you may be surprised at the changes – car insurance in Akron, for example, does not have the same premium that an insurance agent in Fairlawn can offer you.

Additionally, your driving record and claims history changes over time. As the years pass, previous driving infractions (speeding tickets, accidents, etc.) will “fall off” your record: they will no longer be used as a factor in your insurance costs, or they will be weighted less heavily.

The best way to navigate the world of changing insurance providers to find affordable insurance in Greater Akron is to contact Gary Crisp at Crisp Insurance Management. Gary is happy to do all of the research for you and help you locate a good plan that meets your coverage needs and budget throughout the years as insurance rates change between your provider and others.