Many people simply renew their auto insurance with the same company and coverages, year after year, without giving much thought to it. If your renewal is coming up, it's a great time to sit down and review your policy.
Here's what you should keep in mind when renewing your auto insurance:
Did you buy a home? If yes, are you bundling your auto and home insurance? Multi-policy discounts may be available for you.
Did any drivers move out of your home? You may be able to remove them from your policy and thus lower your rate. Some companies require proof that they moved out (like an electric bill in their name elsewhere),
Did your child buy a car? Are they still living with you? If so, bundle that in as well with a multi-car policy. If you have a new teen driver, be sure your policies are updated to reflect that.
Have you or a house member received good grades? Some companies offer a discount for excellent students.
Did your vehicle’s value change significantly? For example, did the value fall after an accident? This may mean you need less coverage.
Did you pay off a loan on your car? If so, re-evaluate the amount and type of insurance you have. It may no longer make sense to have a comprehensive, full-coverage plan.
Has your driving amount changed? Low-mileage drivers can often save money on their policy.
Now that you have some tips to keep in mind, be sure to contact your agent if anything has changed. We are always happy to review policies with current and prospective clients. Have us take a look at your policy to see what you may be missing.