What would be better, re-rating my current policy or switching to a new carrier?

I've been with my current carrier for five years and pay $500 for six months. I recently got a quote from another carrier that is significantly lower, $300 for six months, and it had higher coverage levels. Should I ask my current carrier to re-rate my policy instead of switching?

Answer provided by
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Emily Maracle
Answered on Apr 20, 2021
Emily Maracle is a car insurance specialist living in New York. Originally from the Pacific Northwest, she has a degree in English Literature and a background in customer service. She enjoys cooking, gardening, and living sustainably. In the future, she can't wait to upgrade to a hybrid or electric car.
“If you’re receiving quotes from other carriers that have higher coverage levels and lower premiums, it may be time to switch your insurance. Having higher bodily injury liability and other coverages will protect you in the event of an accident. Less is not more in the case of car insurance!
You can still reach out to your current company to see what they can offer you. Since you’ve been with them for a longer period of time, they may be able to give you a similar rate.
It also never hurts to comparison shop. Carriers adjust rates often. It’s common to receive a quote from a different carrier that is lower than what you are paying.
You can view car insurance quotes online to see what options are available to you. Once you’ve reviewed your options, you can decide what’s best for you. “
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