If you have an auto insurance policy renewal coming up use this checklist to see which risks might apply to you. You might even be eligible for some discounts! Renewal time is the perfect opportunity to review and re-evaluate your car insurance policy. Here are some questions you should ask yourself upon renewal time:
- Have you transferred the title on any of the vehicles listed on your auto policy?
- Do you know your current deductible, and are you happy with that range? (You can go higher on deductibles to save money on a monthly premium, but that means more out of pocket.)
- Where do you park your vehicle?
Auto Insurance Discounts, Anyone?
Inventory your vehicles and tell us about any security or safety systems. You might qualify for discounts.
- Do you have an alarm system or GPS? (This might help authorities retrieve your car faster if stolen.)
- Do you have any driver assistance technologies on board?
- Do you use an onboard driver camera? (This can help with sorting out claim disputes.)
- Do we cover all your vehicles? (multiline discount)
- Do you own or rent your home? (bundling discount)
Liabilities and Limits
Check out some of these life changes that could increase your liability exposure. It’s easy to overlook a new toy or driver in your household. Take some notes, and we’ll discuss your insurance coverage recommendations when we connect.
- Do you own an electric scooter, moped or motorcycle?
- Do you own an ATV or golf cart?
- How many people in your home are of driving age?
- Are they licensed to drive and listed on your car insurance as named insureds?
- Are there students who are getting their driver’s permit or license within the next year living in your home?
- Have any listed drivers changed jobs in the past 12 months? If yes, how far is their commute, and which car do they drive? (This may mean more or fewer miles driven.)
- Are any listed drivers working or attending school remotely? (This means fewer miles driven.)
- Does someone who is not listed on your car policy live with you? (If they have access to your car, they might use it. Let’s make sure you’re covered.)
- Do you have a roommate or any domestic workers you’d like to add to your policy as covered drivers?
- Do you use your vehicle for ridesharing? (You might not be covered while you drive.)
- Do you drive your car for business purposes or transport your business goods in your vehicle? (You might be exposed to exclusions and rejected claims.)
- Have you added customizations to your vehicle, such as rims, spoilers, engine upgrades, campers or shells? (You might need to increase your limits.)
- Do you use a trailer, hitch or bike rack for transporting belongings like an ATV, bike or boat? (You might need extra coverage.)
- Do you own a motor home or recreational vehicle?
Protection Solutions and Policy Add-Ons
Now that you’ve done a quick self-assessment for risk liability exposure let’s talk about a custom policy that fits your lifestyle.
- Rental or replacement car coverage — It’s handy if you depend on your car to get to work or school, but your vehicle becomes temporarily undrivable because of a covered incident.
- Roadside or towing assistance — It’s something to rely on in case of a breakdown (like a tire change), or you need towing to the shop.
- Glass replacement coverage — Glass replacement can help when damage occurs because of something other than a collision.
- Key replacement coverage — High-tech keys and fob replacements can be expensive, depending on the system.
- Loan or lease gap coverage — If your vehicle was totalled today, you might owe more than the blue book value. Gap insurance helps cover this financial strain when your covered vehicle is declared a total loss.
- Accident benefits — It helps with rehabilitation, additional healthcare costs, and other benefits.
- Pet injury coverage — Some companies offer medical help for your pets if they’re hurt in a car accident.
- Home insurance — You’ll offset your financial liability if you’re sued and have protection for your belongings (some in your car, too). You might enjoy bundled discount policies for home and auto insurance.
- Personal umbrella policy — An umbrella extends over most existing insurance policies and kicks in when you hit your policy limits.
Let’s get this Auto Renewal on the Road
We’re here to protect what’s most important to you. Life changes, and that means insurance needs to change, too. Let us review your insurance coverage needs and protect you wherever you roam.
About Wedgwood Insurance
Wedgwood Insurance has offices in St. John’s & Corner Brook and is Newfoundland & Labrador’s largest independent insurance broker. We provide straightforward home, auto & business insurance advice.
With over 245 Google My Business reviews, experience the Wedgwood difference with expert advice from our dedicated team. We ensure that every client has the coverage that best suits their needs through upfront complimentary consultations and midterm reviews.
