Should I switch my auto insurance now or wait until I move?
It seems like Geico is trying to cut down on their policyholders in southeastern Pennsylvania. I recently bought a new car and my monthly premium skyrocketed to $292, even though I have solid coverage. This is just outrageous!
I’m planning to move to North Carolina in a few months, and I got a quote from PRG for the same coverage I have now (except full tort, which isn’t available in NC) for just about $81 a month—what a huge difference!
I also ran a quote here in Pennsylvania and found that PRG is still around $100 cheaper than Geico. So, should I switch now to save some money, and then update my policy once I move to NC for possibly an even lower rate? Is that the smart move?
Additionally, since my car is new, I currently have Mechanical Breakdown coverage with Geico, which PRG doesn’t offer. Is it worth keeping that coverage and sticking with Geico for now?
I would appreciate any advice as I’ve never changed insurance carriers before, and I want to make sure I make the right decision!
Thanks!
It sounds like you’re really analyzing your options carefully, which is great! Given that you’re facing such a significant premium increase with Geico in PA, it definitely seems worthwhile to consider switching to PRG now.
Here are a few key points to think about:
Immediate Savings: If PRG is already offering you a lower rate in PA, it makes sense to switch now and save that $100 each month. Those savings can add up quickly, especially since you’re moving soon.
Future Adjustments: When you move to NC and update your policy with PRG, the rates that you received in your quote should generally hold, but it’s worth confirming with them. It’s common for carriers to adjust rates based on the new location, so just be sure to discuss any potential changes when you move.
Mechanical Breakdown Coverage: If you’re considering dropping Geico, think carefully about the Mechanical Breakdown coverage since it’s not offered by PRG. If that coverage is important to you for your new car, you might want to weigh how much you value it against the significant savings with PRG. You could also look into standalone extended warranty options if that kind of coverage is important to you.
Policy Alignments: Make sure your new policy with PRG has all the same coverages you want. If you’re satisfied with your current coverage levels, transferring those to PRG should not be a problem, but double-check the specifics.
Customer Experience: Lastly, consider the reputation and service levels of each company. Sometimes, going with a cheaper option can have trade-offs regarding customer service, claims handling, etc. Make sure that PRG has good reviews in those areas.
In summary, switching to PRG seems like a financially smart move for you right now, especially given the price difference and your upcoming relocation. Just make sure to fully understand the implications of losing Mechanical Breakdown coverage, and confirm your new policy details before making the switch. Best of luck with your upcoming move!