How Often Should I Review My Car Insurance Policy?

Auto Insurance PolicyHow often should I review my car insurance policy? When someone mentions an auto insurance review, does it conjure up a picture of daylong meeting with a numbers cruncher? For many that appointment would be rated right up there with a visit to a dentist or a morning in traffic court. But the truth is, an auto insurance review can not only be very brief and easy to do, it can also save you a bunch of money on your current insurance costs. Or, more importantly, your agent may be able to find ways to fill holes in your coverage that could be financially disastrous if left unaddressed. Your agent is your trusted advisor.

A professional auto insurance review can be as easy as dropping your current policy off at your local independent insurance agents office. After giving him some basic details, he can take your auto insurance policy declaration page and compare it to the variety of companies he represents through a comparative rater process and see if he can match or exceed your coverage. At the same time he can search for discounts that you may be missing out on and can take advantage of at considerable savings.

For instance, insured’s with youthful drivers can qualify for good student discounts, but only, in most cases, if current grades are provided to the company. In most cases the discount is not automatically renewed unless a new transcript is provided for each school term. Not providing these grades can cost you up to 10% of the youthful driver’s premium.

Another example concerning young drivers is the away at school discount. Many college students attend school more than 100 miles from their home and do not own or bring the cars to school. Alerting your insured to that fact can bring a substantial savings to your policy.

Other times you may find, through no fault of your own, that you no longer fit the criteria for an insurance company’s premier rating plan. By switching to an insurance company where you do qualify savings of hundreds of dollars can result. Companies vary wildly in the structure of their plans and rating slots.

Even if you do not see a substantial deduction an auto insurance review with a local independent insurance agent can give you the peace of mind of knowing that your insurance needs are covered.

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Fifteen Reasons Why You Should Work with an Insurance Agent

How Do I Get a Copy of My Insurance Policy

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Enhanced Insurance is not written by attorneys. If you’re looking for legal advice, you need to contact a lawyer. Further, insurance practices and forms change constantly and are varied from state to state. For definitive answers in your area, contact a local agent.

While the majority of people want an agent involved in their purchase of insurance, many people want to see if they can save money by buying direct from the insurance company. Others want to try a direct quote to make sure the premium they’re now paying through their local agent is fair. If you want a quote for your coverage, click on the competitive quote button on the right side of this page.

Jim operates an insurance agent network called Insurance Partners, aggregating agents in the Midwest for over 25 years. He was National Agent of the Year for Metropolitan in 1993 and Midwest Agent of the Year for Travelers in 2011. He served as a founding board member of the Surplus Lines Association of Minnesota.

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