Some people never review their auto insurance policy. This is not the best approach. Changes in your life can affect the coverage that is best for you.
Here are some times when it makes sense to review your auto policy.
Upon renewal
There are some people simply renew their policy without even looking it over. Your insurance company is creating a new contract with you each time that you renew. They may make a significant change and you won’t know until it’s too late.
Compare your old policy to the new one to see if there are any material changes. If you’re not sure about language in your new policy, speak to your insurance agent, a good agent will be able to cut through the legal language and give you a summary of the key points in plain English.
Annual check up
If you don’t check the status of your policy before each renewal, you may want to check it out at least once a year. Have there been any changes in your life, such as, a raise or a new job? Maybe you can afford a higher monthly premium and that would allow you decrease your deductible or add extra coverage options.
Major life events
Consider reviewing your policy when there are major life events, such as a new baby or marriage. These changes can change your coverage needs.
For example, if you have a baby one parent may need to stay home to care for the child, or you may have to pay for childcare expenses, that may alter the amount of money you have on hand. In this case you may want to find a way to decrease your monthly premium.
Your auto insurance coverage should not only cover you in the case of an accident but it should fit your budget. Ask your agent about ways that you can customize your coverage to your needs. Insurance companies have new add-ons and options that may work well for your particular situation.
To get auto coverage that is just right for you, speak with the experienced agents at John B. Wright Insurance. Contact us here.
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