You should review your auto insurance policy on an annual basis. Here are some items to look at:
1) Deductibles: In some cases, your deductible may be set too low. The premium you pay for that lower deductible rate is, a lot of times, more than the deductible you would pay out in an accident. If you have an “emergency fund” savings account set up for emergencies, then you should consider raising your deductible to $500 or even $1000. This could save you a substantial rate on your annual insurance.
2) Limits: Make sure your limits are set at a reasonable limit for proper protection in an auto accident. Did you know that if your Bodily Injury limits are set at $15000 per person and $30000 per accident and, in the event of an accident you cause injuries amounting to more than that, the other person has the right to sue you for the amount over those limits? And the cost to raise your limits may be less than you might think. We recommend setting your limits to at least $100/300/100. This means you have limits of $100000 per person and up to $300000 per accident and Property Damage limits of $100000. We will do a longer blog at a later date going into depth on the definition of each coverage.
3) Requote: Requote your policy at every renewal. Make sure at least one of your quotes is from an Independent Insurance Agent. We are an Independent Insurance Agent. This means - we work for you not for the insurance company. We work to get you the best coverage and the best price with the best company period. We quote your policies with up to 16 different carriers making sure we find the best policy to meet your particular needs. If you ever have a question on your policy, call us.
So remember, check your limits, raise your deductibles to lower your rate and make sure to always requote at renewal. Call us with any questions – Surprise/Phx Metro 623-584-0071 Wickenburg 928-684-2121