5 tips to help you review your auto insurance coverage before hitting the road.
Getting ready for a summer vacation? While taking sunglasses and snacks is a given, making sure your auto insurance is up to speed is even more important.
- Check your rate. If you’ve been with the same insurer for a long time, it may be hard to find a better rate. But it does make sense to check annually. Consider getting a quote from an insurance broker like Ent Insurance Group. Because brokers work with a number of different insurance carriers, they can automatically comparison shop for you to get the best coverage at the best price.
- Look at consumer ratings. On the flip side, shopping exclusively for the best rate may not ultimately save you money. A less than top-rated insurer may be difficult to work with by under estimating your loss or unfairly increasing premiums if you have to make a claim.
- If your car is still under warranty. Be aware that most standard policies do not cover the higher cost of original-equipment replacement parts. Having your car repaired with after-product parts instead of original-equipment could void your car’s warranty. While original-equipment coverage is often available, you must specifically ask for it and be aware it will increase your premium cost.
- Review your deductible. If you have a good driving record and can afford to cover a potential loss, increasing your deductible can offer significant savings. But it’s important to plan ahead: Consider setting aside funds to cover the higher deductible amount. That way, if your luck runs out and an accident occurs, you’ll have the needed funds.
- Ask about discounts. One of easiest ways to decrease the cost of auto insurance is to ask your agent about discounts you may qualify for.
- A common way to save is to have your auto and homeowners insurance with the same company.
- Anti-theft and safety features can also reduce premiums.
- If your commute is shorter or you’re just driving less, let your insurer know. Your annual mileage is a major factor in determining your premium cost.
- And if your driving-age kids make good grades or have completed a driver training course, it could cut your premium. Also, ask about discounts for in-car devices that provide speed alerts if your teen exceeds your selected limit.