Moving Address? Make Sure you Update your Insurance Policy!
Before moving address, you must inform you car insurance provider of your new address. It’s one of those last things in people’s mind when moving address, but it could mean a financial disaster. If you change your address without informing your insurance company, they might not pay out any claims. This is often a small print in your policy, but it’s required to keep you insurance coverage valid.
If you are moving to another state, you need to check if your insurance company is licensed in that state, as not all insurance companies operate in all states.
Most people would prefer to stay with their current insurer when moving from one state to another. Although this is convenient, it may involve an unnecessary increase in your car insurance rate. Often, this is due to some insurance companies use third party agencies to get coverage for their customers on states in which they don’t operate. This means that customers end up paying more than they should as fees are paid to two insurance companies or brokers rather than one. Therefore, it’s important check quotes from multiple vendors available in your new address before deciding to either stay with your current insurance provider or switch to a new one. Washington DC and New York are known to have the highest car insurance rates.
The type of insurance you need depends on if you are buying a place or renting it. You have to buy the renter's insurance if you are renting a place and a homeowner's insurance if you are buying the place. Insurance companies usually require this data when selling car insurance.