Car Insurance Policy Review

Drivers should do a car insurance policy review at least once a year. This is a good way for drivers to ensure they have the coverage they need and they’re not overpaying for auto insurance. 

To help with this process, here are tips for your auto insurance policy review. Contact GoAuto Insurance with questions or for a free auto insurance quote. 

What Is a Car Insurance Policy Review? 

An insurance policy review is an in-depth look at your car insurance coverage. It looks at: 

• Your active policies 
• The coverage amount of each policy 
• The cost of each policy 
• Deductible amounts
• Applicable discounts

The process doesn’t have to be stressful or time-consuming. In fact, it can be as simple as making a phone call to your insurance company or insurance agent. In just a few minutes, you can review your policy and ensure you have the coverage you need. 

Why Should You Do a Car Insurance Policy Review 

There are three key benefits of regularly conducting auto insurance policy reviews: 

1. Ensuring you have the coverage you need. The review ensures you have your state’s minimum insurance requirements and that you comply with your lender’s insurance requirements. It also helps you understand the coverage you have so you can decide whether it meets your personal needs. 
2. Documenting changes that affect your insurance. When drivers have changes to their family, living situation, or working situation, it can affect their insurance. These life events happen more often than most of us realize. Regular policy reviews are a good way for drivers to document these changes and adjust their policies as needed. 
3. Minimizing costs. In a policy review, drivers can ask about discounts, get rid of unnecessary coverage, and ensure they’re not overpaying for insurance. 

Regular car insurance policy reviews give drivers peace of mind that they have the coverage they need and they’re not overpaying for auto insurance. Contact GoAuto to discuss your insurance coverage. 

How Often Should Drivers Do a Car Insurance Policy Review

Drivers should get in the habit of doing annual car insurance reviews. Think about them like annual physicals and make them part of your yearly routine. You can even schedule them around your birthday to make them easier to remember. 

In addition to an annual review, it’s helpful to do an insurance policy review whenever you have a major life event. Major life events or “qualifying events” for insurance purposes include: 

• Change in family status or family size
• Childhood milestones – for example, a child turning 16, graduating from high school, or graduating from college
• A move or change in living situation 
• A job change 
• Retirement 

Major life events can impact the auto insurance you need. During a policy review, you can discuss any life changes and how they impact your auto insurance. For example, if your commute is less with a new job, you can reduce your annual mileage estimate, or if you have a new driver in the family, you can add them to the policy. 

Drivers should make an annual policy review part of their routine and contact their insurance company any time there’s a major life change. 

Tips for Annual Policy Review 

While the policy review doesn’t have to be a long process, drivers should be prepared to get the most out of the review. Here are a few questions you should ask your insurance company during an auto policy review: 

• Do I qualify for any discounts? 
• Do I have the necessary insurance to comply with all state requirements? 
• Do I have extra coverage that I don’t need? 
• Is there additional coverage you’d recommend? 
• Is there any way to reduce the cost of my insurance? 

Asking these questions will help you get the most out of your review and ensure you have the protection you need. 

Get the Auto Insurance Coverage You Need

GoAuto is always available to conduct policy reviews and discuss policy options with our clients. Our team works directly with drivers to create customized policies. We offer affordable coverage that gives drivers exactly what they need. 

Contact us today to customize your policy and get a free quote.