When is the last time you reviewed your auto insurance policy? If you just thought to yourself, ” Wait, what? I am supposed to review my auto insurance?”, it has been too long.
Colorado drivers should review their auto insurance policy annually. While it may not be exciting as scrolling through your social media feeds, you could be missing out on significant discounts or even worse, not have sufficient coverage.
So, before you let your auto insurance renew without another thought, here are five tips to be sure you are getting the most out of your auto insurance policy.
1. Is Your Coverage Sufficient?
Saving money is essential. However, if your auto insurance limits aren’t enough, you could find yourself in a sticky situation. If you have had the same liability limits since college, it may be time for an increase. Colorado minimum liability limits may have been good enough way back when. Now your life is a bit more complicated. You have a house, kids, dogs, basically, a lot to protect. If you’re in an at-fault accident that exceeds the minimum limits on your policy, the rest is coming out of your pocket.
2. Get a Refresher on What You’re Paying For.
Auto insurance policies are a legal contract and read like one too. If you aren’t sure about the coverages on your Colorado auto policy, now is the time to ask. If there are things you see on the policy, and you don’t know what they are, ask for clarification. Be confident in the coverages you are paying for. Compare rates today!
3. Is All the Info Correct?
You’d be surprised how many people forget to update their address or even swap out vehicles when they get a different one. Review driver information too. Make sure everyone’s name and date of birth are correct. Speaking of drivers, are the people who should be listed? If you are missing a driver or need to remove one, now is the time to do so.
4. Are You Getting All of Your Discounts?
Chances are if you have had your auto insurance awhile, you may be missing out on some big discounts. Buy a house recently? You could be getting a homeowner discount. Take a driver improvement course? Yes, there may be a discount for that too. Ask your agent if you are getting all the discounts you qualify for.
5. Don’t Wait for a Review.
There’s no rule saying you have to wait for your agent to call you for an annual policy review. Now that you know what to ask call them up to discuss your Colorado auto insurance policy. Renewal time is a great time to shop policies as well. You may qualify for better rates with a different carrier but you’ll never know unless you ask.
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