It would seem that since Americans aren't able to put a car on the road unless they have proof of owning auto insurance, selling and servicing it would be hot all year long. But as it turns out, November has a few key dates that make securing a rate in this month the best time to buy. Sure people are doing lots of their holiday shopping in this month, but that's not all.
Studies suggest that weather is one major factor in this equation. Many states in our nation begin to see snow as early as late October which means they're gearing up to make sure they're prepared for treacherous driving conditions. Sure, studded snow tires, snow brushes and windshield deicers are on every driver's list if they live in a place with snow covered roads, but most drivers are also thinking about the big picture this time of year.
Icy roads pose real hazards for drivers, so this is the time they go over their policies. This means it's time to potentially renew, change or even drop policies or carriers. Agents should look at this time of year as a time to strike with new deals and outstanding offers if possible.
Another reason November is a hot month for auto insurance is because of commercial shopping deals for the holidays. With Black Friday, Cyber Monday and Small Business Saturday all piled on at the end of the month, why wouldn't car owners take advantage and secure a great new rate if possible? Whether you're with a large carrier or at a small independent agency, it'd be wise to explore any opportunities that will help you take advantage of these popular shopping days and promote deals if you have them.
Studies have also shown that November 11th, Veteran's Day, is the best day of the year (Black Friday and Thanksgiving are the next best) to find deals on a used car. Lots of dealers begin offering year-end deals this time of year. Naturally, if that's the case, auto insurance is going to be an integral part of those purchases.
These are just a few reasons why drivers may be compelled to adjust their auto insurance in November. Of course there could be a laundry list of things that motivate drivers to make a change, but if you've got customers who you think could be ready for a change, now would be the time to reach out.