Should I Switch Auto Carriers Now or Wait Until I Move?
I suspect Geico is trying to reduce their policyholders in Southeastern PA. After purchasing a new car, my monthly premium skyrocketed to $292, despite having solid coverage. That’s just outrageous!
I’m planning to move to North Carolina in a few months, and I got a quote from PRG for comparable coverage (minus full tort, which isn’t available in NC) that would only cost me around $81 a month – a massive difference!
I also ran a quote in PA, and PRG is still about $100 cheaper than Geico. It seems logical to switch now, save some money, and then adjust my policy when I relocate to NC, potentially lowering my premium even further, right? Is this the best strategy?
However, since my car is new, I’m currently 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 since this would be my first time switching carriers, and I want to make the right decision!
Thanks!
It sounds like you’ve done some solid research on your insurance options, and you’ve identified some key factors to consider in your decision. Here are a few points to help guide you:
Immediate Savings: Switching to PRG now could save you a significant amount of money ($292 down to $81). If you’re comfortable with their coverage and service based on the quotes you’ve received, it might be worth making the switch now rather than waiting.
Future Move: When you move to NC, you can update your PRG policy to reflect your new address. Since you’ve already seen that your quoted rate in NC with PRG is much lower than what you’re currently paying with Geico, it’s likely you’ll benefit further from the move.
Mechanical Breakdown Coverage: If your new car is still under warranty, you might not need the Mechanical Breakdown coverage since most new vehicles come with comprehensive manufacturer warranties. However, if you feel this coverage provides you with peace of mind or if your car’s warranty has limitations, you might want to consider keeping it. It ultimately depends on how much you value that specific coverage versus the savings you would receive by switching.
Canceling Geico: If you do decide to switch, ensure there is no lapse in coverage. Don’t cancel your Geico policy until your new PRG policy is active. Check if there are any cancellation fees or implications for switching carriers so you’re fully informed.
Research Customer Service: Before making the switch, it might be worth looking into PRG’s customer service reviews and claims process. Having a good support system is just as crucial as the cost savings.
Ultimately, if the new policy offers the coverage you need and saves you money now and after your move, it seems like a smart move to switch. Just be sure to review the policies thoroughly to ensure you’re comfortable with the differences in coverage. Good luck!