What Is Important in a Car Insurance Review?
Posted on December 20, 2019
The average person replaces their vehicle approximately every six years. Even in households with multiple vehicles, most people go two to three years without making a vehicle change on their policy. While reviewing your coverage at the time of a vehicle change is important, a more frequent review of your car insurance is necessary to ensure you have the right protection in place.
There are three areas which should be reviewed when looking at your auto insurance.
-
PROPER PROTECTION
-
COMPANY/AGENCY
-
WAYS TO SAVE
While the cost of the coverage is obviously a major factor, most people agree they want to have the right coverage in place. When reviewing your insurance you should start by looking at your coverages and then look towards the company and agency who are offering the coverage. You can then work with your agent on ways you may save.
PROPER CAR INSURANCE PROTECTION
In Massachusetts, there are 12 major coverages and then numerous other coverages which are available to be added to the policy. When reviewing your insurance, the 12 major coverages are typically more conspicuous on the policy documents — making it much easier to see which limits you have and determine if they are enough to protect you in case of a serious accident.
The other coverages can be harder to locate. Many carriers may only list the endorsement number making it really difficult to determine which coverages are included and what they cover. Sometimes an internet search of the endorsement number can reveal further information; unfortunately, this is not always the case.
EVALUATING YOUR CAR INSURANCE COMPANY/AGENCY
Generally there are three types of insurance companies: Direct, Captive, and Independent. In Massachusetts, we have the highest percentages of policies written through independent agents — and for good reason: our system is complicated! The biggest benefits of working with an independent agency are:
-
CUSTOMER SERVICE
Work with someone local who cares more about YOU. Make sure you are not just calling into an 800 number and dealing with someone in another state (or country), but with someone right in your community.
-
VARIETY
Independent agents write with multiple companies. They are able to help you review your policy, assess your needs, and recommend the right company and the right policy for you.
An independent agent will help you assess the company with whom your policy is written. They can help you understand the company’s financial stability, billing plans, claims service, and coverage options. Being able to help explain the differences in coverages and companies is a vital component to making a good decision on which company is right for you.
MAXIMIZE YOUR CAR INSURANCE SAVINGS
Saving money on car insurance is important to everyone. There are a few different areas you should discuss with your agent.
-
DISCOUNTS
-
DEDUCTIBLES
-
COVERAGES
-
BILLING PLANS
Head over to our December blog to read more about How to Reduce Your Massachusetts Auto Insurance Premium.
If you are an existing Aronson Insurance client, contact your dedicated account manager to do a full policy review and make sure you have the appropriate coverage in place at the best possible price. If you are not yet an Aronson client, contact us today at 781-444-3050 and we’ll do the same for you!