Spring has finally sprung! For many of us that means breaking out the warm weather clothes, cleaning our houses from top to bottom and pulling weeds for hours on end. But, there’s one thing in your life you might have been neglecting…your car insurance policy.
For most of us, we stay in our stagnant old auto insurance plans only thinking about our policies when we get a new car or when our teenagers start driving. Unfortunately, by not reviewing your policy periodically you could be wasting money or not covering your present needs.
Signs Your Current Car Insurance Policy Needs Spring Cleaning
Your Vehicle is Getting Older
When you purchase a new vehicle financing through a loan, your lender will always assist in choosing the perfect level and type of coverage. But, as your car starts to get older, the type of coverage it needs changes. When you first purchase a new car, you usually require collision and comprehensive…especially if you purchase it with an auto loan or are leasing the vehicle.
You can save a lot of money by evaluating the coverage you need on your aging model car.
You Only are Covered for Your State’s Minimum
A lot of drivers opt for the state minimum coverage just to scoot by by the skin of their teeth (and as a money-saving measure.) In the event that you need to actually claim an accident, you are going to likely regret that. The bare minimum especially won’t cut it if you bought a nicer car or if you have child that just got their learner’s permit.
You Get a Job Where You’re on the Road a Lot
If you switch careers into a position where you’re on the road or driving far distances a lot, you may want to add more coverage. Also, you definitely want to add emergency road side assistance coverage for all those unforeseen issues like flat tires or dead batteries while far from home.
Changes in Income
The amount of coverage you should purchase depends on how much you are earning. If you make less, you need less car insurance coverage. If you make more (you guessed it,) you need more coverage. In the event of a major accident with inadequate coverage, your largest assets are at risk in a court settlement to pay costs.
You’ve Purchased Another “Toy”
Finally get that “midlife crisis” boat, motorcycle or RV this spring? Then you should explore discounts that you can get with bundle packages through most car insurance providers.
You Don’t Know How Your Provider’s Claims Processes Work
If you’re unsure how to go about filing claims in the event of a car accident through your current provider, it’s a great time to also explore your current coverage needs. Once you actually spend time to go over the steps following claims, you also can inquire about how claims effect your rates, how long it takes to get a check, etc.
Think it’s time to rethink your auto insurance policy? Get in touch with an expert insurance broker at Smoker-Sheaffer who can compare quotes from dozens of highly reputable providers for your personal needs.Pages: