Many car owners in Hope Hills, NC are unaware or fail to take a keen interest in their auto insurance policy terms. Many car owners in this region have contacted us at Cross Creek Insurance to determine whether they need to inform their insurers when they move. Here’s what to know.
It will help if you inform your auto insurer when you move.
As the policyholder, you must inform your auto insurer when you move to another house in the same neighborhood, another neighborhood or city, or state. Failure to inform your auto insurer about your moving violates the terms of your auto insurance policy. The consequences of this violation could include:
- Termination of your policy, which will leave your uninsured
- Claim rejection of the insurer finds out that your claim is based on an incident that occurred after you moved without informing them.
- The tarnishing of your insurance record by terminating your policy or rejecting your claim leads to higher premiums on your next auto insurance policy. The higher premiums will be because insurers view you as an untrustworthy policyholder and a greater risk to insure.
Why should you inform your auto insurer when you move?
Your insurance company calculates your auto insurance premiums based on the risk level of your location. If you move from a house with a garage to one without in the same neighborhood, your risk level increases; thus, the auto insurer needs to charge you higher auto policy premiums for the increased risk. This is also the case when moving from one neighborhood or city to another. If you move to a safer house, neighborhood, or city, your risk level will be lower; thus, informing your auto insurer will enable you to enjoy lower premiums.
Contact Cross Creek Insurance for unrivaled auto insurance info and deals in Hope Hills, NC.