Life is full of changes and these changes can affect your auto insurance. You may not realize it, but certain life events can reduce your rates and may make you eligible for discounts as well. So you might want to take a closer look at your policy and see if you should make any revisions. Here are 5 reasons to update your MA auto insurance…
You’re Getting Older
As a young driver, insurance rates take into consideration your inexperience driving a vehicle and your overall maturity level. These risk factors contribute to higher premiums. As you get older and more experienced, these rates tend to decrease. Hence you will need to update your auto insurance to reflect this change.
You Got Married
First – congratulations are in order! But you may as well continue to celebrate, as this is another reason to reduce your insurance rates. That’s right, the whole maturity thing comes into play again. Insurance companies view marriage as increased responsibility – and the more responsible you are, the less of a risk to insure. So while you’re amending your newlywed status in other documents, don’t forget to update your MA auto insurance.
Your Credit Improved
Any change in credit score is applicable to your insurance rates. However, an improvement is clearly a beneficial change. Again, it’s all about that risk factor. Individuals with higher scores historically file fewer insurance claims. Improved credit therefore means less risk, which correlates to lower rates.
You’ve Changed Jobs
What does a new job have to do with your MA auto insurance? Depending on your coverage and the new institution – joining a new company, organization, or picking up a new hobby may make you eligible for additional insurance discounts. It’s best to contact your MA auto insurance company to see if any of these apply with the new gig.
Where you live plays a big role in determining your MA auto insurance rates. Remember that risk factor? Insurance companies base their pricing on your location and the theft/accident rates in that community. The lower the risk of incident, the less of a premium you will pay. If you have recently moved into a community with less crime and better public safety, you will want to update your insurance to reflect the change of location.
Other Life Changes May Offer Reasons to Update Your MA Auto Insurance
So go ahead and work those life changes to your advantage! Your newfound knowledge of these 5 reasons to update your MA auto insurance insurance will ensure that you are capitalizing on discounts and getting the lowest rate possible. Below are just a few common examples. Other life changes may be equally beneficial, so be sure to contact your insurance company for more information.