5 Steps You Need to Take When Comparing Auto Insurance


When you’re an independent contractor or working in the gig economy, you know you need to watch your income and your expenses carefully. Every dollar you save is money in your pocket. To maximize your savings as a gig worker, you should be comparing auto insurance policies often.

1. Be in the Know

Shop around and learn what competitive rates are in your area. Since COIVD burst onto the scene, a lot of people are driving less. Some insurance companies have offered rebates or lower premiums. That also means there may be competitive rates available. Comparing auto insurance can help you see the differences between plans and policies so you can find the best fit for your needs.

If you haven’t comparison shopped for a while, there’s no time like the present. As a rule of thumb, you should consider shopping at least once a year or if your driving situation changes. For example, if you’ve been driving part-time for a ridesharing company and it’s now become your full-time job, you’ll need to make sure you’re covered for the additional miles. You might as well shop your auto insurance coverage around and see if there’s a better deal out there.

An easy way to remember is when you get your auto insurance renewal notices. These usually come once or twice a year. Use them as a trigger to remind you it’s time to shop!

One place to check is with Jobble Auto. Jobble Auto lets you search for auto insurance for self-employed workers in your area. By having one tool to compare rates and plans, you could save time and money.

2. See if You Can Renegotiate

Rather than cancel and switch, talk to your current auto insurance provider and see if they will match the rate you found when comparing auto insurance. Many independent brokers can negotiate rates or shop around for you and find a better rate. Some of the big-name brands will allow agents to create special deals for customer retention. It never hurts to ask.

3. What to Do if You’re Going to Switch

If you find a better deal and decide it’s time to switch, make sure you check your policy. You need to make sure the coverage overlaps so there’s no gap between policies.

Insurance companies allow you to cancel your policy at any time. By letting your insurance company know when to cancel, you may also be eligible for a refund depending on your payment cycles and the terms of your policy.

Don’t just stop paying the bill. They might keep the policy in force and you’ll be responsible for paying it or report your non-payment to a credit reporting agency.

4. Will Shopping for Insurance Hurt Your Credit Score?

Insurance quotes shouldn’t affect your credit score one way or another. This is known as a soft inquiry. Hard inquires, such as taking out an auto loan or applying for a new credit card, can stay on your credit report for two years, soft inquiries won’t hurt you.

5. Don’t just stick with the status quo

Whether you’re using your vehicle for business or not, it’s a good idea to shop around regularly to ensure you’re getting the best rates. Staying with a plan that doesn’t best suit your needs doesn’t do you any favors. Don’t be afraid to make change if it will help put you closer to your career and financial goals. Comparing auto insurance policies can save you a lot of money in the long term.

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About the Author: Paul Dughi has an MBA in Business Administration and has held executive management positions in the media industry for the past 30 years.  He is an Emmy® Award winning Producer/Writer and has authored two books on Marketing, Management, and Sales. You can find him on WriterAccess.

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