Switching your car insurance? Avoid these common mistakes

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Written by Michael Foote , founder of Quote Goat, with over 13 years experience working in the finance, insurance and currency sectors.

Unfortunately in the world of car insurance loyalty doesn’t always reward you with improved car insurance quotes. This is why it is so important to compare car insurance quotes before your current plan comes to an end. Your current policy may have been your best option when you started it, but you could be entitled to a cheaper policy with your current provider or you could receive major savings with another provider.

If you do decide to switch car insurance companies there are a few common mistakes you should avoid:

Leaving a gap in your coverage

If you move to a new insurance policy then you need to make sure that it starts the same day your current policy ends to avoid a gap in your coverage. Being involved in an accident whilst driving without the proper coverage can land you in a lot of trouble, and not just financial trouble.

Gaps in your coverage can also come back to bite you in future if you decide to switch provider again in the future. Companies look at your track record and those with continuous coverage will be more likely to receive lower prices.

Forgetting to cancel your old policy

This may sounds like a very basic error that surely nobody could fall foul of but unfortunately it is more common than you may think. It is vital that you old policy is cancelled in the correct manner, and that you have written confirmation of the cancellation. Some people think it is enough to simply stop paying their old policy once they have found a new one. Your former provider will still bill you and if you fail to make their payments your credit score will be affected.

Not checking your new policy over thoroughly

Unfortunately a lot of people will jump at the chance of making a saving without checking the new policy through thoroughly. You may be offered a lower rate by a different provider but this lower rate may be for an insurance plan that doesn’t cover as much as your current policy.

We see a lot of people move to cheaper policies only to release they aren’t covered for everything they need later on. This means they need to add on extra coverage after you buy the policy resulting in a more expensive plan than you switched from.

Compare car insurance quotes with Quote Goat. You can easily find the right insurance policy for you.

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