Why You Should Review Your Auto Insurance Regularly

Posted on: 19 October 2019

If you automatically renew your auto insurance every year without review, then you might be paying more than you should. This is because many of the factors that determine your final auto insurance rate change over time. Below are some of these factors.


Auto insurance discounts evolve with time. The discounts you may qualify for today are not the same discounts you had three or four years ago. Carriers sometimes come up with discounts or change the rates of exiting discounts. Don't expect your carrier to come to you with information on all the discounts for which you qualify. The best way to get the information is to contact your insurance agent.

Safety and security

The safety and security of your car determine your auto insurance premiums. Safety and security are always evolving, so you should review your circumstances regularly to know where you stand. Maybe you have moved house, and you now have a safe parking spot, or you don't use the dangerous highway you previously use to commute to and from work. In such a case, you may be entitled to lower rates due to your changed circumstances.

Personal factors

Some personal factors affect auto insurance rates, and personal factors change all the time. Marital status and age are classic examples. For example, some auto insurance companies have a favorable view of marriage since they believe married couples are more careful drivers than drivers who are single. Also, younger drivers pay more for auto insurance than older drivers since the latter are inexperienced and have an affinity for risk. 


The number, age, and driving history of all the drivers in your household affect your auto insurance rates. All of these things can change with time, and if they do, you may be entitled to lower rates. For example, some drivers can move out of your household, or younger drivers can gain reasonable experience. Reviewing your coverage may help you get better rates.


Lastly, even the car-related factors that affect your auto insurance rates may change over time. For example, your car will age and lose its value, and the number of cars in your household may reduce. In such cases, reviewing your auto insurance may see you score improved rates.

As you can see, you stand to gain a lot by reviewing your auto insurance regularly. Talk to your auto insurance agent to help you with the review the next time your policy is up for renewal.