Why It’s Important to Review Your Home And Auto Insurance Annually

We have all seen the big insurance companies’ televisions ads that say you could save hundreds if you switch insurance. It can be easy to disregard but reviewing your insurance policies annually to ensure you are getting the best price and coverage really can save you hundreds.

It is not just about the annual premium, having the correct coverage can protect you from big bills after an accident or weather event. Here are two great reasons to shop around each year before your policy renews.

 

Complete Coverage

There are a lot of options when it comes to coverage options, especially for auto insurance on your car. Read this great infographic for a breakdown of car insurance. You might be driving an old car and decide to upgrade, suddenly going from a liability only policy to one that includes comprehensive and collision. You could be living in an area where hurricanes do not exist and then move to Florida, adding flood insurance to your homeowner’s policy. As life develops, your coverage needs to adjust. It is easy to overlook coverage changes and developing needs, and checking into your policies annually can help you fill any gaps.

 

Comparing Costs

One way to lower your annual premium is by adjusting your deductible. Most home insurance quotes assume a standard $1000 deductible. However, if you are a good saver and always have a healthy savings, you can increase your deductible to $2500 or $5000 to get a better premium. Consider bundling your auto and home insurance, paying your premium all at once, or switching companies to save money. TopLine Federal Credit Union can help you compare insurance companies with ease. We compare up to 20 different insurance companies and give you the lowest quote for the coverage you need.

 

If you are not sure what month your insurance policy renews, that is a sign you need to review the terms. Now is a great time to look into it as September is National Insurance Awareness Month. Are you aware of the coverage and costs you have?

Interested in seeing if you can save money on your insurance? Call 763-391-0007, email quote@toplinecu.com or stop by any of our branch locations for your personalized, free, no obligation coverage comparison today!