It’s one of those annoying upkeeps – Insurance. It tends to just slip our minds until it pops up that it’s time for renewal. But regular insurance reviews can keep you from overpaying. Here’s when you should consider taking a look.
Whether it’s a change in your household or an update to your vehicle, here are moments that should prompt an insurance checkup:
1. Annually at Renewal
Most insurance policies renew once a year—this is the perfect time to compare rates and coverage.
2. After Major Life Changes
Getting married, divorced, moving, or adding a new driver to your policy all affect your premiums and coverage needs.
3. Home Renovations or Purchases
Upgrades or buying a new property? Your home insurance needs to reflect current property value and risk.
4. Buying, Selling, or Replacing a Vehicle
New car? It’s time to reassess coverage, deductibles, and whether you’re getting the best deal.
5. Policy Premium Increases
If your insurer raises your rates, review competitors before renewing.
How to Find Better Insurance Deals
Don’t settle for automatic renewals without shopping around. Here’s how to explore your options:
- Use an Independent Insurance Broker: Brokers work with multiple insurance companies and can compare quotes for you.
- Compare Online: Use sites like Policygenius, The Zebra, or Compare.com.
- Ask About Bundling: Combining auto and home policies with the same provider can often lead to significant discounts.
- Check for Discounts: Safe driving, home security systems, or being claims-free can all lower your premium.
Helpful Resources
Here’s a list of reliable tools and references in case you want to do some shopping around.
Your local Department of Insurance website
