Should I switch auto insurance carriers now or wait until I move?
I suspect Geico is trying to reduce their policyholders in Southeastern PA. I just purchased a new car, and my monthly premium jumped to $292 (and I’m well insured, so this seems excessive).
I’m planning to relocate to North Carolina in a few months. I received a quote from PRG for the same coverage I currently have (except without full tort, which isn’t available in NC), and my monthly premium for that is around $81—what a significant difference!
I also got a quote from PRG while still in PA, and it’s about $100 cheaper than Geico. I’m thinking that if I switch now, I can save some money, and when I move and update my policy, my rate will drop even further. Does that sound like a good plan?
One thing to consider is that my new car is covered by Geico’s Mechanical Breakdown coverage, which PRG doesn’t offer. Is there any advantage to keeping this coverage and staying with Geico?
I’d appreciate any advice, as I’ve never switched insurance carriers before and want to make the right choice.
Thanks!
It sounds like you’re in a bit of a dilemma with your auto insurance! From what you’ve shared, here are a few insights to consider:
Immediate Savings vs. Future Stability: Switching to PRG now could save you a significant amount of money each month. If your current policy with Geico is costing you $292, switching to PRG for $81 sounds like a no-brainer in terms of immediate savings. Moreover, moving to NC will likely provide you with additional savings upon updating your policy.
Coverage Considerations: You mentioned that Geico offers Mechanical Breakdown coverage, which can be beneficial for a new car. If you value this coverage for peace of mind and believe it could save you on potential repairs, consider whether the savings from PRG outweigh the lack of this particular coverage. You might also check if there are similar offerings or options for mechanical breakdown coverage with PRG or if this is something you can manage without.
Timing the Switch: The switch could be strategic now rather than waiting until you move. You’ll still be covered adequately while also saving money, plus you can flexibly adjust your policy once you move to NC. If PRG is still competitive in NC—and it sounds like they are—making the switch sooner may simplify the transition.
Policy Management: Since you’re new to switching carriers, ensure you review all policy details carefully. Look for things like coverage limits, deductibles, and any additional features or discounts that either policy might offer. It can also be helpful to check the customer service reputation of PRG since you’ll want an insurer that supports you well if needed.
Consult with PRG: It might be worth having a conversation with PRG directly. They may have insights or offers that could further sweeten the deal or ensure that you’re set up for the best price and coverage upon your move to NC.
Ultimately, it looks like switching to PRG now could be a good move given the significant savings, provided you’re comfortable with the coverage trade-offs. Just be sure to weigh the benefits of Mechanical Breakdown coverage alongside your overall financial situation and needs. Good luck with your decision and your upcoming move!