Surprising Ways Moving Can Change Your Auto Insurance Rates

Moving to a new home is always an exciting adventure. However, amidst the excitement, it’s essential to understand how relocating can impact your auto insurance rates. This often-overlooked aspect can significantly affect your budget, and being prepared can save you from unexpected expenses.

In this blog post, we’ll explore why and how moving can influence auto insurance rates in Missouri. We’ll break down the various factors that affect these rates, outline the process of updating your auto insurance after moving.

Additionally, we’ll share some practical tips for saving on auto insurance after a move.

Location Matters

The location where you live plays a significant role in determining your auto insurance rates. Insurance companies assess the risk associated with different areas based on historical data and other metrics. For instance, areas with high crime rates or heavy traffic congestion often have higher insurance premiums.

Crime Rates

High crime rates can lead to increased auto insurance rates due to the higher likelihood of theft or vandalism. If you move to an area with elevated crime levels, you might see an increase in your premiums. Conversely, relocating to a safer neighborhood could reduce your rates.

Population Density

Highly populated urban areas, like Kansas City or St. Louis, typically have higher auto insurance rates compared to rural locations. This is due to the increased risk of accidents in areas with more vehicles on the road. If you’re moving from a rural setting to a bustling city, expect your insurance premiums to reflect this shift.

Weather and Natural Disasters

Areas prone to extreme weather conditions or natural disasters also tend to have higher auto insurance rates. For example, living in a region susceptible to flooding, hurricanes, or tornadoes might increase your premiums.

Updating Your Auto Insurance After a Move

Once you’ve moved, it’s crucial to update your auto insurance information to reflect your new address. Failing to do so can result in coverage gaps or even policy cancellations. Here’s a step-by-step guide to updating your auto insurance after a move.

Notify Your Insurance Provider

Contact your insurance provider as soon as possible to inform them of your move. Provide them with your new address and any other relevant details. This will allow your insurer to adjust your policy based on your new location.

Review and Adjust Your Coverage

Take this opportunity to review your existing coverage and determine if any adjustments are needed. Depending on your new location, you might require additional coverage or might be able to reduce certain aspects of your policy. Discuss these options with your insurance agent to ensure you have the appropriate protection.

Check for New Discounts

Many insurance companies offer location-based discounts. For instance, moving to a gated community or an area with lower crime rates might qualify you for a discount. Be sure to ask your insurer about any potential savings opportunities that come with your new address.

Mistakes to Avoid After You Move

Once you have moved and suspect that your rates might go up because of the relocation, do not make the mistake of neglecting to notify your auto insurance company. It may be tempting to avoid disclosing your new address in hopes of maintaining your current rates, but this can seriously backfire.

If you make a claim and it’s discovered that you’ve misrepresented your residence, not only might your claim be denied, but your policy could also be canceled. Insurance companies view accurate personal information as critical, and failing to update your address can be considered a breach of your contractual obligations. Always keep your insurer in the loop to ensure you remain fully covered and compliant.

Disclosing Any Additional Drivers in New Household

After your move, the number of household members might have changed. You may have new licensed drivers residing with you, and it is essential to notify your auto insurance company of these changes.

States like Missouri allow you the option to exclude those drivers from your policy, which can be beneficial if they don’t use your vehicle. However, in some cases, you may need to add them to your policy, which could affect your premium. Including additional drivers provides adequate coverage and ensures compliance with your insurer’s terms.

It’s advisable to discuss your options with your insurance agent to determine the best approach.

Tips for Saving on Auto Insurance After a Move

Relocating doesn’t always mean higher auto insurance rates. Here are some practical tips to help you maintain or even reduce your premiums after a move.

Shop Around for Quotes

Insurance rates can vary significantly between providers. After moving, take the time to shop around and compare quotes from different insurance companies. This can help you find the best rates and ensure you’re not overpaying.

Bundle Your Policies

Many insurance companies offer discounts for bundling multiple policies, such as auto and home insurance. If you haven’t already, consider bundling your policies with the same provider to take advantage of these savings.

Improve Your Driving Record

Maintaining a clean driving record is one of the most effective ways to keep your insurance rates low. Avoid traffic violations and accidents to qualify for good driver discounts and lower premiums.

Get Better Rates Today With Bargain Insurance Connection

If your auto insurance rates have increased due to a move or other factors, we can help you save money on your car insurance without sacrificing coverage. Bargain Insurance Connection is proud to offer comprehensive auto insurance services in Missouri, Kansas, and Illinois. Our experienced team is dedicated to finding you the best rates while ensuring you have the necessary protection.

Don’t let rising insurance costs overwhelm you; reach out to us today. Give us a call at 816.453.7722 or request a free quote below to start exploring your options and achieving savings on your auto insurance.

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