A car insurance policy is not a static line of coverage. Oh sure, it can be, but it really shouldn’t be. After all your life changes, as do the medical and liability expenses that can accompany an accident.
This means that you must make an effort at least annually to make adjustments to your car insurance policy in order to ensure that it is as effective and accurate as you need it to be.
Annual Car Insurance Adjustments to Consider
Adjust your average annual miles driven: Your insurer needs to know about how many miles you drive per year in order to assess what kind of risk you pose to them. Every year, make sure you report any major changes to them.
Take advantage of applicable discounts: You can get discounts when you add anti-theft devices to your car, such as alarms and steering wheel locking devices. In addition, some apps—like the State Farm iPhone app, Steer Clear—offer drivers discounts when they are downloaded and utilized. And don’t forget the discounts you get for taking defensive driving classes. Every year before you renew, consider which of these discounts you might now qualify for.
Add uninsured motorist coverage: If you don’t already have uninsured or underinsured motorist coverage, then you need to consider adding it to your policy. Without it, you could be stuck with some major bills after an accident with an uninsured or underinsured motorist.
Adjust your limits: Your limits might be fine for your risk exposure this year, but next year the rising cost of medical care and changes in your driving habits could mean that you need to increase your limits to help reduce your exposure. In addition, cars and other personal property are only getting more expensive. Just another reason keeping a tight rein on your limits is so important.
Change your deductibles: As the years go by, your ability to support your current deductible may change. In lean years, you might have fewer savings to commit to a deductible, and as you pay off debt you might find you have more disposable income to put toward that responsibility. Keeping your deductible at an accurate level for your budget will help to control your risk exposure and your premium.
The next time your car insurance policy is getting ready to renew, remember these points and update your policy so that it works with your current life—not the one you had when you originally took out the policy.
Austin is the capital city of the U.S. state of Texas and the seat of Travis County. Located in Central Texas on the eastern edge of the American Southwest, it is the fourth-largest city in Texas and the 14th most populous city in the United States. It was the third-fastest-growing large city in the nation from 2000 to 2006. Austin has a population of 790,390 (2010 U.S. Census). The city is the cultural and economic center of the Austin–Round Rock–San Marcos metropolitan area, with a population of over 1,716,291 (2010 U.S. Census), making it the 35th-largest metropolitan area in the United States.
Evans, Ewan & Brady Insurance Agency, Inc has been serving the needs of Texas drivers since 1928. There are many options when it comes to car insurance and our agency can help tailor a policy to fit your specific needs. Now is the best time to get your car insurance information to us. Regardless of the renewal date of your current policy, we always recommend you submit your information to us and allow us to comparatively quote your car insurance. Better price is just a click away!
Call us today at (512) 869-1511 for a free Austin car insurance quote.