Your auto policy renews either every six months or yearly. About a month before your insurance is due to renew, you will get a letter from your insurance company. It has a declaration page as well as your new insurance cards. You will be told what your new rates will be. Many policies automatically renew, which may mean that you won’t pay attention to the declaration you get. This is convenient, but it may not be in your best financial interest. With almost 20 years of experience, Luft Insurance Agency in Escanaba, MI has lots of information to share with its customers.
Review your policy when you add or subtract a vehicle
Adding or subtracting a vehicle to your auto policy will cause a change in your premium. You will get a new declaration page, and it is important you look at the figures and makes sure they make sense. Some carriers give a multi-vehicle discount. You also need to check the coverage included for each vehicle.
Review when you add or remove a driver
It is always good to review your policy when you add or subtract a driver. Some drivers are at higher risk than others, and you need to discuss this with your agent. You may need to consider other carriers to get the best rate.
When your income goes up
Part of your auto insurance is liability coverage. This is the coverage required by most states, and if you’ve had your policy for a while and you purchased what you were required to have, it may be time to update your coverage to more appropriate limits.
Reviewing your auto insurance is an important thing to do. At Luft Insurance Agency in Escanaba, MI, we recommend a yearly review. Please stop in or give us a call so we can review your auto insurance policy with you.