You buy a car. You get insurance. It’s easy to forget about it completely except, of course, when you have to pay the premiums. But you might be leaving money on the table if you don’t occasionally update your auto policy. Take a look at these tips from DCH Toyota of Oxnard to make sure you have the best auto insurance policy for your needs.
Life Changes
Whenever you have a big change in your life, it’s important to remember to update your auto policy. Yes, it’s just one more thing to do, but having the right amount of coverage is important and could maybe even save you money.
- Marriage – If you recently got married, congratulations! Now don’t forget to update your policy to add your spouse. They should add you to their policy, too. Also be sure to talk to your agent about getting a family policy discount.
- Divorce – There’s no reason to keep paying for your ex on your policy. Consider it just another way to sever those ties.
- Moving – Whether you’re moving down the block or across the country, you need to tell your auto insurance company. Your rates will probably change. It’s a great time to go over your policy and see if you’re under- or (gasp!) over-insured.
If your child has recently gotten their driver’s license it might be a good time to take up meditation. But since you now have a new driver in your household, you also need to add them to your policy. Teens can sometimes qualify for discounts based on academic achievement. Good grades can cut your premium, so make sure to ask your provider about these incentives.
Buying or Selling a Car
Whenever you get a new car or sell your old one, you have to notify your auto insurance company. Remove the old and add the new. You may want to change some of your coverage options, like collision, if you’ve gone from an old beater to a brand new car. You also may have new discounts coming your way if your new car has anti-theft devices, air bags, daytime running lights and other safety devices.
Pay off Your Car Loan
If you’ve finally paid off that car loan, take a look at your policy. Auto financiers often require certain amount of minimum coverage. You might not need it anymore, or you might be able to adjust your deductible.
Shop Around
It never hurts to get a few estimates. You might be able to switch companies and save. Shop around and see what other insurers can do for you. Be sure to talk to your current agent. They might be willing to work with you if you tell them you’ve found a better deal elsewhere.
If You’ve Been Good
If you’ve been a good driver, meaning no accidents or tickets for the last few years, you might qualify for a good driver discount. Talk to your agent about such a discount as well as any other potential discounts you might be missing out on. They want to keep you as a customer, so they’re usually willing to help you save a few dollars here and there. Remember, it never hurts to ask.
