How Often Should I Change My Car Insurance?
Nothing lasts forever, even your car’s insurance. At some point, you may need to change it. But when is the right time to change a car’s insurance? Well, it’s all a matter of adjusting to various changes or factors that affect the risks facing your car. Below, we have detailed a number of scenarios that warrant the change of your car’s insurance.
Change of vehicle
It goes without saying that when you change cars, you have to change your insurance as well. Your car insurance policy is specific to the vehicle insured. This is because the coverage is calculated as per the cost and condition of your vehicle. There’s also the legality issue. So if you change vehicles, you have to buy a new insurance cover for your new car. You cannot transfer coverage from the older car to the new one.
Vehicle upgrades
From time to time, one may upgrade their vehicle by having extra fittings or modifications added on. When this happens, you have to change your insurance as well. That is because you want the new additions factored into your insurance plan. In most cases, this will mean having your insurance premiums adjusted upwards. However, it also means getting compensated for the upgrades in case of theft or damage to your vehicle.
Change of vehicle users
When you insure your car, you are asked to declare who will be in charge of the car. If you are changing who will be handling the vehicle, you have to file the change with your insurer. For example, if you want your spouse or child to be driving your car, you should notify your insurer. This will ensure that they enjoy the rightful coverage in case of liability when handling the car.
Change of vehicle use
You should also change your vehicle’s insurance if you change the purpose for which your vehicle is used. For example, if you were previously using your vehicle for personal use and you would now like to use it as an Uber, you have to notify your insurer so that they can update the liability risks of your vehicle.
Change of residences
Your residence, too, can affect your car’s insurance. When applying for car insurance, you are asked to detail how and where your car is parked or stored every other day. This determines the security level of the car in regards to its risk of theft, vandalism, fire, etc. When you change residences, be it as an individual or as a business, these risks change as well. Your new premiums may, therefore, go up or down.
Change of vehicle’s security features
Last but not least, changing the security features of your car may necessitate that you change the insurance of your car. For example, if you upgrade the security of your car, you may qualify for lower premiums. The vice versa applies as well.
If none of these changes apply to you then you can stick with your current insurance plan for as long as you wish. All you have to do is pay your premiums on time in order to stay protected.
For more information about how The Sena Group can help you with any
of your insurance needs, please contact us at 561-391-4661.
We can be found on Social Media at the following links.
The Sena Group
6501 Congress Ave., Ste. 100
Boca Raton, FL 33487
561-391-4661
