Your Car Insurance Renewal Checklist

Don't just let your car insurance policy renew automatically. Every year, you should take a look at your insurance policies to make sure they're still suitable for you. After all, life changes — and your insurance needs change with it.

Follow this car insurance renewal checklist to make sure your insurance is as affordable and valuable as it can be.

1. Have you acquired any new discounts?

There are a number of discounts available for car insurance policies, and they aren't always listed. You may need to ask about special discounts. Discounts could include things such as having winter tires, being a student in college, being in the military, or retiring. Sometimes there are even discounts available for specific employers, government work, and (of course) friends-and-family discounts for the insurance company itself.

Discounts may also be linked to the vehicle: if your vehicle has an updated security system or if you've installed a rearview camera, for instance, it's possible that you can qualify for a discount. Your broker should be able to give you a full list of car-related and driver-related discounts that are available to you.

2. Do you need to add on any drivers?

Adding on drivers is the most common reason for why people update their auto insurance policies. If you've gotten married, you may also see your insurance changing: it's often assumed that married couples will drive each other's cars (unless explicitly stated that they will not). If you have children who are learning to drive, you'll need to add them on now.

3. Is it time to increase your liability limit?

Many people initially get an auto insurance policy with a relatively low liability limit, because it saves them money. Over time, though, your auto insurance costs will usually drop, and you'll be able to afford more in liability. So, definitely consider whether you need more liability insurance now. If you have a longer commute, are doing lengthy road trips, or just have a more expensive car to protect, you may want to increase your coverage.

If you've started doing any work in your car, such as driving for ride share services, or performing deliveries, it's very likely that you're going to need to increase your insurance amounts. Your broker can help you determine how much you should increase your insurance, whether you need an additional insurance endorsement, or whether you need a different type of insurance (such as commercial insurance) entirely.

4. Could you save some money by bundling?

If you have a home insurance policy with us, you could save up to 15% off of your auto insurance premium. It's also more convenient to have a single policy rather than multiple policies at once. Inquire about how much you could save if you bring over all of your insurance to a single brokerage: you may even be able to get more coverage for similar (or cheaper) amounts.

5. Is all your general information accurate?

Don't forget to review your general information from time-to-time, such as your contact information. Even your employment is often used to calculate your rates, as some professions require additional coverage (i.e. commercial insurance coverage). Take some time to look over the information that you provided on your application and update the areas that have changed since you initially applied.

Don't forget that your brokerage can review your insurance documents to make sure you have the coverage you need — at the best possible rates. Contact us for more information.


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