How Often Should You Review Your Auto Insurance?

Auto insurance isn’t something you can set and forget. Your life, your car, and the laws that govern auto insurance can change over time. But how often should you review your auto insurance policy to ensure you have the right coverage? The truth is, there’s no one-size-fits-all answer. However, by making it a habit to check your policy periodically, you can save money, stay compliant, and ensure that you and your loved ones are properly protected.

When to Review Your Auto Insurance Policy:

1. Annually

At a minimum, review your policy once a year. This gives you the opportunity to assess any changes in your driving habits, vehicle value, or personal circumstances that may affect your coverage.

2. After Major Life Events

Certain life changes can significantly impact your insurance needs. Events like marriage, moving, adding a teenage driver, or buying a new home should prompt an immediate review. Major life changes often come with adjustments to your risk profile, which could mean discounts or the need for additional coverage.

3. When You Purchase or Lease a New Vehicle

Buying or leasing a new car is an important time to reevaluate your auto insurance. You might need to update coverage levels, especially with regards to comprehensive and collision coverage. Newer vehicles may also qualify for safety feature discounts.

4. Changes in Vehicle Usage

If you've started driving more or less frequently than you did when you originally purchased your policy, or if your vehicle usage changes (e.g., using your car for work or commercial purposes), this can impact the type of coverage you need.

5. After a Moving to a New Location

Moving to a new area can influence your premiums. Insurance rates vary depending on state laws, local accident rates, and even your neighborhood. A policy review ensures you meet any state requirements and are paying appropriate rates.

Why Regular Reviews Matter:

• Maximizing Savings: Regular reviews ensure you take advantage of any discounts, such as multi-policy or good driver discounts, and that you're not overpaying for unnecessary coverage.
• Compliance with State Laws: Laws change, and you want to ensure that your coverage is up-to-date with any new state requirements.
• Protecting Your Assets: A review gives you a chance to verify whether your liability coverage is sufficient, especially if your assets or income have increased over the past year.

Conclusion:

Regularly reviewing your auto insurance is not only about cutting costs but also about ensuring peace of mind. Life changes quickly, and having the right coverage can make all the difference when the unexpected happens. Make a habit of reviewing your policy annually, or after major life changes, to stay fully protected.

Ready to Review Your Auto Insurance Policy?
Don’t wait until it’s too late! Whether it’s been a while since your last review or you’ve experienced recent life changes, now is the perfect time to reassess your coverage. At Liberum Insurance, we’re here to help you find the best protection for your needs and budget.

Get a Free Auto Insurance Review Today – Click here to schedule a quick consultation with one of our expert agents and ensure you're fully covered.