When researching car insurance, finding accurate information can be confusing. At isure, we put our customers first by giving you the information you need to make informed insurance decisions. However, you may be wondering when the best time is to purchase car insurance. It’s a valid question, and a great one because it has multiple answers. If you are looking for ways to save on your car insurance, we have a comprehensive guide to car insurance discounts, as well as tips on how to save on car insurance. Now, let’s take a look at some occasions where it may be the best time to buy car insurance.
How Do I Know If I Need New Insurance?
If you’ve just received your driver’s licence, are a new driver, or just purchased that new car you’ve always dreamed of, it may be time for new insurance! In many cases, most life-changing events may lead to you needing new insurance. However, this isn’t always the case! In fact, some common reasons people may look to shop for a new policy include:
- Your rates are too high
- Dissatisfied with your insurer’s service
- Your needs have changed
- You have moved locations
These reasons don’t necessarily mean you need to shop around, but they often spark a desire to do so. Shopping for a new car insurance policy is always recommended, as your situation changes, needs evolve, or prices rise. It’s always good to explore your options!ff
Buy Your Car Insurance Before Renewal
One of the worst times to buy car insurance is after your policy already expires. Unfortunately, this is what many people tend to do. Buying insurance in haste will result in you paying more than if you were to shop around and explore your options before renewal. As such, the moment you receive your renewal paperwork, you should begin shopping! This will give you plenty of time and the best opportunity to find discounts on car insurance. A good start is to find a new provider by having isure compare quotes for you.
If you find a new provider early on, it will make the process easier and give you a clean break. If you decide to stick to your current provider, you may also be allowing yourself to access loyalty discounts. Like anything, the more time you give yourself when shopping for car insurance, the better chance you have at finding great coverage for the best rate. Even if you already have car insurance, consider requesting a quote from us to see if you can save more.
Buy Your Insurance Before You Need It
If you’ve been contemplating buying that new car you’ve been thinking about, the best time to buy car insurance is before you purchase a new car. Different cars will cost different amounts to insure. This will depend on the make and model, safety features, use, and the extent of wear and tear. If you are trying to decide between two different cars, you can make your decision easier by seeing how affordable the insurance on each is. By comparing insurers, the savings can be so significant on “safer” cars that you may be able to buy a new car with the money you’ve saved on insurance! Please make an advance purchase part of your new-car process.
What Month Is Best?
It may be surprising, but the way you purchase your car insurance can affect the price you pay. We already know that factors such as the car’s model, age, and safety can affect insurance premium rates, but what about the month or day you buy? Research shows that insurance premiums in the province are lowest in July, August, September, and October. While the explanation isn’t clear, it states that during these months, insurance companies receive a higher volume of business. This can be because car manufacturers release new vehicles during these months. This means it may be worth conducting your research in the spring, so that by summer, you are ready to buy.
We hope this will put your mind at ease when purchasing your car insurance. If you’re looking for affordable premiums and top-notch customer service, please speak with one of our isure brokers.
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