When to Revisit Your Insurance Policy: Every Six Months
When you search for a new insurance policy, you should be able to get all the coverage you need within a reasonable budget. Your insurance agent should be able to help you get exactly the protection that’s perfect for your situation. While you need a certain type of coverage that will protect you during an accident or other type of car claim, you also need to evaluate how it would fit in with your budget.
Like other bills, including your spending plan and investment portfolio, you should also take a look at your insurance policy every six months. It’s important to review any bill to make sure that you are being as economically efficient as possible. There are some bills that seem small to you at the moment, but add up over time. An insurance bill is definitely not something you should overlook. It may be one of the most important payments you make because it ensures you and your family are protected under any mishaps.
Usually, your agent will set the policy to auto-renew to make sure you’re covered. They do this to protect you so that you don’t go any days without having some type of coverage. However, taking a look at the policy before it renews is a good idea for many different reasons.
One reason is to make sure that you really do have the protection you need. Your situation may have changed since the last time you bought auto insurance, and you need to make sure your current policy is up to date to whatever needs you may have.
More importantly, prices may change every six month. Some carriers optimize prices for customers who don’t shop around. It doesn’t hurt to request quotes from other insurance companies, and then ask your agent if it’s possible for you to get a different rate. There may even be some coverages you don’t need but are paying extra for because you didn’t take the time to look at your insurance policy.
Talking to an insurance agent is easy, and you should have a good relationship with your agent. Their job is to get you the coverage and protection you need, and to work with you to achieve that protection within a certain budget. It’s always best to check in with your insurance agent every six months to make sure your policy is up to date.