Switching your insurance policy can save you hundreds of dollars a year. But, make sure you consider these things before you make the switch.
Tip #1: Compare Apples to Apples
You’ve seen the commercials – “average savings of $500 a year for those who switched…” Absolutely you can save money. However, be sure that your new quote compares your current policy to the new policy – all coverages, driving records and vehicles the same. Any one thing can make a big difference. Many companies will try to lure you with great savings, but a CLUE report (comprehensive loss underwriting exchange – also known as your claims history) is not completed until after the application is submitted. Online companies are notorious for doing this.
Tip #2: Status Changed
If you’ve recently received a ticket or an accident, moved or purchased a new vehicle, have your current policy changes made prior to shopping. It is entirely possible that your new ride may get you some savings, or result in a price increase. In addition to this, if you’ve recently had a ticket fall off of your driving record, it would be worth calling the company to see if they can remove it now and save you some money for the remainder of your policy term. Regardless, if something changes, be sure to revert to tip #1.
Tip #3: Work with an Independent Insurance Agent
The insurance agents at 360 Insurance are discount detectives and have access to multiple companies. Even better, we know your current situation, history and can give you recommendations across many of our companies. Contact us first! We can compare rates between each of our carriers and let you know the benefits of each company.
Tip #4: Multi-Policy Discounts
When you’re looking for a new policy, be sure to take all things into consideration. You may be focused on your auto insurance, but if you have a package policy (multiple policies with the same carrier) you are likely getting discounts. If you move your auto insurance policy to another carrier, your home insurance may increase as much as 20% eliminating any saving you received. Take all of your policies into consideration. One additional item to consider here is if you have an umbrella policy, this is typically required to follow your home insurance policy. Some carrier require the home and auto to write the umbrella, so talk to us about your specific situation.
Tip #5: Your Relationship with your Agent
Knowing your insurance agent and having a business relationship with them is important. Our insurance agents are the ones who will go to bat for you in the event you have a claim or accident. Often times we can help you file that claim or give you recommendation on local companies to help fix your issue. If you have your insurance directly with the company handling your loss, you don’t get this representation. Having a local independent insurance agent is the way to go.
360 Insurance was founded on the principles of superior service, trust and experience. As an independent agency in Las Vegas, we are able to provide our clients with the finest A-rated products to suit all their personal, business and retirement needs. We’ve been a part of this valley for over 43 years! So, a great relationship with our agency is an important one. We want to be your agency for life and we hope we can earn the privilege of having you refer your family, friends and associates to join us.