Car Insurance Guide - When to Change Car Insurance Company

Car insurance is a necessity. You need to regularly review your car insurance coverage to make sure that you receive the value for money you are investing in. You will realize that it pays to shop in the market space from time to time. Many a times you will notice that the premiums for identical policies vary widely among different car insurance companies. The reasons for this price variation can be on the basis of different reasons and can be quite complicated.

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*TP price for less than 1000 CC cars. All savings are provided by insurers as per IRDAI approved insurance plan. Standard T&C apply.

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Above-mentioned prices are for a 7-year-old Maruti WAGON R AVANCE LXI (998 CC) registered in Gurgaon and 15 days before expiry of previous policy

They usually bring all the claims experience with policyholders in a coverage group for e.g., people of similar age group, number of accidents, type of vehicle, etc. For example, if a large number of people in a coverage group files claims during a given year, their rates are likely to rise. When this happens, better discounts and lower overall premiums may be available at other insurance companies. When you decide to switch your car insurance policy to another company, you'll find that it's fairly easy to do so.

Just like Auto insurance, car insurance is not a luxury but a necessity. And in order to get the maximum advantage, experts recommend that you should shop around for cheap car insurance every 2-3 years. As policies change and new players enter the market there are so many new attractive car insurance schemes available you could benefit from. Changing car insurance every now and then is not advisable. But you should review your policy every 2-3 years and figure out if you are covered appropriately.

Why to Change Car Insurance Company and Policy

  • You get a better price for the same coverage as your current one.
  • You are getting a better coverage at the price you are paying currently.
  • You are getting a better coverage at a much lower price than you are paying now.
  • You had a bad experience after filing your claim with your current insurer.
  • The market is huge and if you are not satisfied with the service of your insurer, then definitely it is time for you to look for another insurance company to cover your car.
Written By: PolicyBazaar - Updated: 14 March 2022
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