So the paperwork for my renewal came in the mail this past week. Just like millions of other people I went and looked at the rate. So now what? Well here are some things I look for in my own renewal, as well as yours when I have the chance to renew it;
- Is it correct? Yes, is it correct. Is my name spelled right, are the right vehicles there are all my discounts correct. Before you think about the rate lets make sure the basics are correct.
- Now that we know it is correct, how is your rate? Did it go up much from last year? Like it or not rates go up. What increase can you deal with?
- So now you want to improve your rate, first lets start with discounts. Do you have all you can have?
- Next place to look is at your comprehensive and collision coverage. If you have it, do you need it? If you have it, what is your deductible? $1000 is not a lot of damage on a vehicle. Ask yourself “If my car is safe to drive and looks presentable would I be ok with a little dent?”
- Now shop, that’s right shop. For whatever reason getting 3 estimates works for most things in life. This does not mean you are going to leave it just means you are being diligent. LOYALTY IS OVERRATED
Some things to keep in mind. Your driving record may preclude any change being a possibility. There may be a good chance for savings by changing how you pay your bills. You might have as good a rate as you can get.
So what do I do? Well my wife and I have a ticket or two and a small accident so we fall into the category of not being able to shop. BUT when reviewing the policy I realized we both can take a defensive driving course. This will save close to $200 per year for the next three years. We will spend $49.90 to take it so this is a heck of an investment. In my case, it is finally time to drop the collision on my 2003 Jetta. I hung on as long as I could but the Kelly Blue Book value now longer justifies keeping collision coverage. Dropping this saves a couple hundred more. Now things are definitely better. Factor in the nice discount for paying in two payments and I am spending less this year that I did three years ago. Not bad.
Just some thoughts, would be happy to help customize these suggestions for you.