14 Common Auto Insurance Myths You Should Stop Believing

Myth 12: Once You Buy a Policy, the Price Is Locked In Until Renewal

Many drivers assume their premium cannot change once they have purchased a policy, aside from the scheduled renewal date. In reality, certain events, like a new violation, a change in your driving record, or a mid-term update to your policy details, can sometimes trigger a rate adjustment before your official renewal date arrives, depending on your insurer’s specific policies and your state’s regulations.

The reality: Ask your insurer directly what specific events could trigger a mid-term rate change on your policy, so you are not caught off guard by an adjustment before your next scheduled renewal.