When is your insurance company going to kick you off your current plan?
If you want to know what your current insurer is charging for coverage, check out the latest quotes.
Insurance quotes and discounts vary widely, and are sometimes only a fraction of the actual cost of a coverage, according to The Insurance Information Institute.
That means there’s a good chance you’ll pay more or less for your coverage than what you were originally told.
For instance, some insurers are charging you more for coverage than they were when you signed up for the policy, even though you’re actually paying less than you expected, according the Institute.
In addition, insurance companies sometimes offer “value-based” discounts that are usually just for the current plan year.
The Institute found that these deals typically are designed to help you save money on your next plan.
While it’s important to keep in mind that some insurance companies may not actually be charging you a discount for the coverage you’re currently enrolled in, they may still be offering a discount to help cover the cost of the insurance.
This is why some people find it helpful to use the Insurance Information Center to look at the price of the coverage they’re currently getting and compare it to what the premium for a comparable plan would be.
Insurer rates vary from state to state, and you should check the quotes from your state before signing up for insurance.
The insurance information in this article is based on information from the Insurance Institute.
It should not be considered an endorsement of an insurer.
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