Should I Switch Auto Carriers Now or Wait Until I Move?
I suspect that Geico is trying to minimize their policyholders in Southeastern PA. After purchasing a new car, my monthly premium jumped to $292 (I have solid coverage, but this rate is outrageous!).
I’m planning to move to North Carolina in a few months, and I got a quote from PRG with the same coverages I’m currently carrying (minus full tort, which isn’t available in NC) for just around $81—what a significant difference!
In my research, I also ran a quote in PA and found that PRG is still about $100 cheaper than Geico. Given this, I’m considering switching now to save some money and then updating my policy when I relocate to NC, which might lower my premium even further. Does this sound like a good strategy?
One concern I have is that since my car is new, I currently have Mechanical Breakdown coverage through Geico, which PRG doesn’t offer. Is there any benefit to keeping this coverage and sticking with Geico?
I would appreciate any advice as I’ve never changed insurance carriers before and want to make sure I make the right decision.
Thanks!
It sounds like you’re in a situation where you have a great opportunity to save money on your auto insurance! Given that Geico has significantly raised your premium, and PRG is offering a much lower rate with comparable coverage, it does seem like switching is a good option.
Here are a few things to consider:
Immediate Savings: Switching to PRG now will save you a significant amount each month. Even if you’re only planning to be in PA for a few more months, that savings can really add up.
Moving to NC: When you move to NC, your rates may very well drop further, as you already have a quote showing a much lower premium there. Insurance rates vary significantly from one state to another, so you’re looking at a good opportunity to reduce your costs even further.
Mechanical Breakdown Coverage: This is a unique coverage that can be beneficial if you anticipate needing repair services beyond your warranty. If you think this coverage is important for you, you might want to weigh the potential costs of repairs against the savings from switching to PRG. Alternatively, you could consider checking if there are other providers in NC that offer similar coverage for a reasonable rate.
Policy Update: When you do move and switch to a new address, inform your new insurer about your change of residence; this will ensure you get the best possible rate based on your new location.
Comparison Shopping: It’s always a good idea to keep your options open. While you have a good quote from PRG, you can still shop around a bit more once you move to NC just to make sure you’re getting the best deal.
Overall, it sounds like making the switch now to PRG is a smart move, especially with such a large difference in premiums. Just ensure that whatever decision you make aligns with your coverage needs and comfort level. Good luck, and I hope your move goes smoothly!