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How to Re-Evaluate Your Auto Insurance Plan

evaluate auto insurance plan

There are many New Year’s Resolutions, but people don’t often take a look at their insurance at the start of a new year. Depending on what changed for you over the last year, or even more recently, it may be time to re-evaluate your current auto insurance plan and make major changes. You could have less coverage than you realize, be overpaying with your current provider, or need to add additional coverage to help with life changes. Here are some common reasons to review your car insurance and make changes.

Questions to Ask to Review Your Auto Insurance

Did You Have A Life Change Recently?
If you have had a major life change in the last year, such as getting married, having a baby, getting a divorce, a change in income, or even new large purchases, you may want to take a look at your old auto insurance plan. Chances are, you may not have the right type of coverage for what you now need. Policies can get out of date and need to be adjusted to make sure you have the right amount of coverage, at the right price, and for the things or people you need covered.

Did Your Car(s) Change?
Did the value of your car go up or down? Did you receive moving violations? Did you buy a new, expensive car? Rather than quickly adding a new car or not adjusting your plan for your older car, take the time to review what is actually in your auto insurance plan to adjust as needed for your new situation or new car.

What Do You Need Covered?
In the past, you may not have had much coverage for replacing your car, rental car reimbursement or coverage for medical bills, or it may have been very small. If your life situation has changed, and you cannot afford to not have good coverage should an accident occur, it may be time to add more coverage to your existing plan, especially if you only went with the minimum at the time.

There are many new situations that can come up in life and most people do not re-evaluate their auto insurance as needed. If you would like to discuss your plan and insurance needs in more detail, one of our local auto insurance agents can help. Contact us now at 877-945-7233.