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When you're shopping for vehicle or property insurance, you want to take advantage of every possible discount. There’s one particular savings trick that many people don’t know about and that many insurance companies aren’t eager to advertise. The best time to take advantage of it is in the weeks or month before your current policy expires. Read on to learn more about this underappreciated tactic.

What You Should Know About Savings & Switching Insurance Companies

What the Advance Quote Discount Is

Many insurers will offer a discount if you elect to start your policy at a date in the future, rather than making it effective immediately. For most insurers who offer this perk, you’ll need to purchase the policy at least a week in advance. The discount can be as much as 10%. It can be permanent or last for a temporary time period. For instance, if you call for a quote from an insurance company in hopes of having it start a week or more from now, you can save up to 10% on premiums for six months or longer, depending on the insurer.

Why Insurers Offer This Markdown 

insurance companyThe reason the discount exists is that insurance companies deem planning ahead to be a sign of maturity and responsibility. Insurers like to see clientele demonstrate these qualities and lower their risk profiles. As a reward, they’ll pass savings on to the driver. Not all insurers offer this discount, or the same amount of savings. Providers may refer to it differently, with some preferring the term future effective date discount. 

What to Do If Your Insurance Is Expiring Soon

If your current insurance policy is set to expire shortly, shop around in advance for new coverage instead of simply letting it roll over and renew automatically. You may have to do a bit of research to find companies that offer this savings opportunity. Keep in mind that many insurers also give discounts at certain intervals if you’ve had auto insurance continuously, so you may not want to cancel your old policy until the new one goes into effect. By acting in a timely fashion, you may save a bundle. 

 

Call BestRate Auto Insurance at least a week before your policy expires and ask about the advance quote discount. This one-stop independent agency serves clients in and around Bulloch County, GA. They specialize in quality home, renters, motorcycle, boat, and car insurance policies. Visit their website to learn more about their competitive offerings. Call (912) 489-5942 for the Statesboro office or (912) 403-3250 for the Vidalia office to see how much you can save on a home or auto insurance quote.   

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