When you move, not everything fits neatly in a cardboard box. Your car is one of those items. You’re going to have to physically and legally move your vehicle to your new address. One task that you cannot neglect at this time is the transfer of your car insurance.
What worked for you in your old home might not work for you in your new one. Therefore, specifically review your auto policy during your move. Your insurance agent can help you update and adjust your coverage so that it remains effective in your new place.
Call Your Insurer When You Move
Moving to a new home can impact how much risk your vehicle faces. As your risk level changes, your insurance coverage and costs likely will also. Let’s look at a couple of the ways that moving might impact your insurance:
Different locations have their own vehicle risk profiles. For example, the theft and accident rates in your new neighborhood might be higher than in your old location. That's an increased safety risk to you. It’s also a cost risk to your insurer. The higher risks might drive your insurance costs upward.
Your drive times might get shorter, or longer. Let’s say your move lengthens your daily commute by 15 miles each way. You will drive 150 more miles per 5-day week than you previously did. This means you might have more chances of experiencing an accident. Your policy prices might increase, or you might need higher coverage limits to protect you from potential accidents. Ask your agent their recommendations.
So, it’s important to re-evaluate your insurance coverage shortly after your move. The sooner you do it, the safer you likely will be. Always adjust your auto policy to reflect your new permanent address. Doing so can help ensure that you receive maximum coverage and services for any claim.
Ask About Bundling When You Move
When you buy your new home, you’re likely going to have to take out homeowners insurance on the property. Ask your agent if you can bundle your home insurance policy with your existing car insurance coverage.
Bundling means buying both policies from the same insurance company. You will generally only pay one bill for both policies. Most insurers award bundling discounts. By bundling, you could ultimately save on your coverage than if you buy your policies separately.
Moving means reevaluating your insurance coverage – both for your home and your vehicles. Contact a Tennessee Auto Insurance agent immediately upon moving. We can help you determine how to adapt your coverage.