Save Hundreds Of Dollars A Year By Reviewing Your Auto Insurance
Save Hundreds Of Dollars A Year By Reviewing Your Auto Insurance
If you are coming up on your car insurance renewal it is time to take a minute out of your day to review your coverages and premiums. One of the worst mistakes you can make when you are coming up on your auto insurance renewal is failing to review your policy for accuracy. If you have been with your Michigan car insurance provider for several years, chances are you are being rated properly. Just one small error in your zip code or your vehicle classification code can cost you hundreds over the period of a year. Know what to look for when you are reviewing your upcoming renewal and lower your premiums without lowering your coverage.
Address and Garaging Location
On an insurance policy, you would assume your address is automatically listed as the area where your vehicle is parked. This is not always the case. If you have recently changes your mailing address and you did not report a change in your physical address you could be paying for parking your vehicle somewhere you do not live. On your policy there will be a section listed as garaging location. This is where your vehicle is physically parked. If the zip code is incorrect, make sure to have it updated as this can lower your premiums.
Vehicle Usage
Another common mistake on a Michigan car insurance renewal is vehicle usage. Vehicle usage means how you use your vehicle on a regular basis. There are three different classifications: pleasure, commute, and business use. Pleasure usage is the least expensive rating whereas business use charges the highest premiums. Check to see how each vehicle is classified. If you have moved, purchased a new vehicle, or changed your employment status this rating may be different. Update the each vehicle rating to make sure you are being charged accurately.
Vehicle Mileage
You are also charged based on the average amount of miles you drive annually. If you drive 5000 miles or less you will pay less premium than a driver who drives over 15000. On your renewal page, you will see a mileage range. This shows how many miles you are being rated for on your upcoming term. If you changed jobs, changed your employment status, or you moved you could be driving less then you were previously. Update your mileage and make sure to provide the requested documentation to lower your average mileage.
These are the three common areas that are inaccurate on a Michigan car insurance policy. If you find any errors report them to your insurance agent immediately and receive an updated premium quote. Dedicating just a small amount of time each year to review your policy can save you hundreds of dollars.
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