Annual Insurance Review
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When was the last time you shopped for car insurance from agents or companies other than your current provider?
- Within the last year
- Within the last five years
According to the Consumer Federation of America, “… 24 percent of drivers never shop for auto insurance, 34 percent rarely shop and 16 percent only shop every few years.”
Review all your insurance coverage annually. Keep the following records on file so that you will be better prepared to talk about your needs when you go for an annual review.
- Current and past insurance policies
- Premium statements
- Medical bills you’ve paid
- Up-to-date inventory of your personal assets
- Documentation for claims you’ve filed and accidents you've been involved in
It pays to shop around for insurance every year or two. Changes in the industry, your insurer, the laws and your situation may make coverage elsewhere a better deal for you.
Contrary to what you might think, even when you stick with your car insurer out of loyalty, your rates can be increased.
Are You Covered?
Read your homeowners (or renters), medical, life and car insurance policies in detail. Find out what is covered, what isn’t covered, the coverage limit and any responsibilities you have to keep the coverage. Use the Insurance Policy Inventory Worksheet to keep track.