Leading auto insurance industry experts are calling on car owners and policyholders to consider switching to other providers to get significant savings. According to industry sources, the high demand for insurance coverage is causing tougher competition among providers. They add that this is potential good news for motorists who may be looking forward to saving more money as the global economic recession rages on.
Several noted industry analysts also supported the idea of finding new providers to avail of lower premiums. Experts say that car owners can make use of lesser known facts like the increasing competition among insurers to their advantage. For instance, they explain, car owners who have been loyal clients of certain providers can give representatives from their insurers hints that they are considering switching. Most major insurance firms would offer special discounts, refunds, or even slash premiums just to retain their clients. Of course, experts add, the motorists must have impeccable payment and performance records with the providers for this particular plan to work.
In a similar manner, policyholders can even avail of special promos or rates if they decide to switch insurers. Sources from the car insurance industry point out that in the cutthroat competition among providers, many companies have resorted to “bribing” prospective clients into signing up with them. Many insurance firms currently employ this strategy to get ahead of their competitors. While this may not necessarily be “friendly” competition, motorists across the U.S. can end up as the ultimate winners.
Specialists point out that car owners can actually get significant savings from their auto insurance simply by going the extra mile and doing their homework. They add that proper research and the willingness to venture out of their comfort zones can lead to much more rewarding insurance experiences. Experts say that policyholders can try shopping around for the best premiums and protection coverage to meet their needs.
Analysts say that if there is a final decision to switch insurers, policyholders should first tie up loose ends with their old providers. Car owners should inquire about potential refunds and inform company representatives of the exact date they want to terminate their policy. At the same time, policyholders must also inform their new providers of the exact date they plan to sign on. This can prevent any overlapping bills that would only add to more unnecessary expenses on the part of the motorists.