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Steps on How To Transfer Your Current Illinois Auto Insurance Company

Insurance is an agreement between an individual and insurance carrier that you are supposed to make monthly payments to the carrier while the dealer or company will compensate your losses or damages in the event of an accident. The premiums are different for each individual basing on the risk factors that he/ she possesses and the amount of cover or compensation that you will get depends on the policy that you will purchase. The more expensive the policy, the better the cover will be.

Some insurance brokers may lure you to buy quotes from them with their low initial costs but you will be surprised that there are hidden costs that make your premiums sky rocket monthly. You will also be surprised and be disappointed that after years of paying these premiums you won’t be compensated at all or if you are lucky get very little compensation. If you have experienced these situations, here are the steps that you will follow so as to transfer your Illinois auto insurance company.

1. Copy of communication with your previous broker. Make sure that you save and make a copy of the communication between you and your insurance company. You will use this information to convince your new insurance company that you have a good record and you are not of high risk so as to help you get low interest rate and low monthly premium. Make sure that you also include claims filed and accident reports if available. It will also show the reason you are transferring since your new company would like to know why you are transferring from your previous insurance broker.

2. Your driving records. Compile your driving record for the past 5 years. It should include the mileage that you cover annually, driving history, distance to work, tickets, accidents and claims. This information is required by the new Illinois car insurance company to calculate the interest rate and monthly premium that you will be charged.

3. Auto insurance comparison website. Use a very reliable website that will allow you to search and compare car insurance companies around your local area. Compare the different quotes and prices offered by the companies before selecting your new car insurance company.

4. Search for discounts. There are several Illinois auto insurance companies that offer price discounts so as to attract a lot of customers, make sure that you capitalize on this so that you save extra cash.

5. Fill the online application forms. You will have to register to your new insurance company by filling in the online application form. You will be sent a verification link on your email address so as to activate your account with your car insurance company.

6. Notify your former broker that you wish to cancel your policy. This may have a penalty but it is good to do so to prevent the company from demanding monthly payments from you.

A reliable website like this one will help you to compare the insurance policies offered by several auto insurance companies in Illinois to aid you when transferring your insurance policy. Just enter your zip code on top of this website to kick start the process.