Should I get new auto insurance quotes often?

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Joel Ohman
Founder, CFP®

UPDATED: Dec 30, 2016

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Here's what you need to know...
  • The factors that go into the determination of your rate change frequently, so you should shop for insurance frequently
  • As you go longer without traffic violations or accidents, your rates should decrease
  • The economy plays a role in car insurance premiums
  • As your vehicle ages, you should start paying less for insurance

Shopping for car insurance can seem like a hassle, but you may have heard that it can save you money on your car insurance premiums, too.

It is easy to get an insurance policy in place and just not think about it again until you need to file a claim, yet shopping for insurance periodically really can save you money, and it may not be quite as stressful and time-consuming to do as you might think.

The easiest way to shop around for car insurance quotes is to enter your ZIP code in our car insurance comparison tool!

How Often to Shop for Coverage

Some experts recommend that you shop for new auto coverage every six or twelve months. There are many factors that car insurance companies use to calculate your rate, and these factors do change fairly regularly.

Understanding these factors can help you to better understand why you should shop for new coverage every six or twelve months. Some of these factors include:

Your Driving History


Factors like if you’ve had an accident, a speeding ticket, and more do affect your premium.

You may have added one of these events onto your driving record in the last few months, and your current rate may reflect a rate change that is less forgiving of such events than another policy may be.

Even if your last accident or ticket occurred a few years ago, keep in mind that each insurance company calculates their rates differently.So that added time that has elapsed may be enough to trigger a lower rate through another company.

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Crime Rates

Crime rates and statistics are constantly being updated, and this includes vehicle-related crimes. The last time you shopped for rates, there could have been a string of car thefts or vandalism crimes that took place that affected your rates.

The fluctuating crime rate, as well as the different weight that different insurance companies apply to this factor, will cause rate quotes to change.

The Location of Your Home

Insurance companies use the location of your for a few different reasons in calculating your rate. Crime, as noted above is one of them.

However, other location-related factors such as the average age of residents in your area and the level of traffic in your area are taken into account. If you have moved, these factors will definitely change.

Even if you have not moved, people do get older, people move in and out of the area to affect the average age of residents, and traffic patterns change, too.

The State of the Economy


The insurance industry is a business that does take into account factors like supply and demand, inflation, and other economic factors when calculating rates.

The state of the economy is constantly changing, and this can spur rate changes in an insurance company.

Your Vehicle

Your insurance rates will change if you buy a new car. However, even if your car is the same one you’ve been driving for a few years, your rates may need to be adjusted.

Factors that affect your car insurance rates include the value and repair costs of your car. As your model ages, these factors do tend to decrease.

Yet if you have been locked into a rate for the past few years under the same policy, you may not be taking advantage of this fact.

Faster and Easier Rate Shopping

A laptop next to a notebook and cup of tea

Understanding the factors that affect insurance rates changing often can help you to realize that you may get a better rate by shopping around for new coverage today.

However, the thought of calling around from insurance company to insurance company can be intimidating, and actually making so many calls can be time-consuming.

A better way to shop for rates is to use a price comparison website. This is an online tool that allows you to enter your personal and vehicle information into a single form, and you will receive several quotes back as a result.

The forms are available to use around the clock, and they take only a few minutes to use.

With how fast and easy it is to get new insurance quotes today combined with the possibility that you could save money on your premium, it does make sense to take a few minutes today and get a few quotes for coverage.

Your insurance premium is a regular expense in your budget, and so trimming it down today equates to regular savings for months to come. Be sure to set a reminder for yourself to shop for new coverage again in a few months, too.

Simply mark it on a calendar or set an auto reminder to complete this easy task on your phone or computer.

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