Spring is a season of new beginnings, making it the ideal time to review your auto insurance. Even if you’re satisfied with your current coverage, it’s recommended that you examine the policy once a year. This is essential for ensuring you’re still adequately protected and getting the best rate possible. Here are a few reasons to give the policy a tuneup as winter winds down.

4 Reasons to Reevaluate Your Auto Insurance in the Spring

1. Check Your Liability Limits 

Your liability limits should be high enough to cover any damages you might cause in an accident. If you’ve simply renewed the policy year after year or only purchased the state’s minimum liability requirements, there’s a good chance you’re underinsured. The bodily injury portion is designed to pay for medical expenses another party may incur due to injuries suffered in a crash you’re responsible for; the property damage portion will pay to repair other vehicles that were involved. In either case, your financial obligation could amount to thousands of dollars, and without proper coverage, your assets may be at risk. 

2. Consider the Collision & Comprehensive Coverage

It’s also important to consider collision and comprehensive coverage should you need help paying to repair damages to your own vehicle after an accident. If they were never added to your policy, think about what would happen if your car was stolen or sustained significant damage from a fire, falling tree, or rollover incident. Would you be able to pay out of pocket to cover your loss? If you do have them on your policy, are the limits sufficient according to the value of your vehicle and financial situation?

3. Reexamine Your Deductible 

Another part of the auto insurance policy to take into account is the deductible. Each year, it might make sense to raise the deductible if it’s on the lower end, which will help reduce your premium. However, before doing so, go over your finances and make sure you’re in a position to afford a higher deductible should you need to file a claim. 

4. Ask About Discounts 

Insurance companies offer numerous ways to cut coverage costs. Your eligibility for certain discounts can change from one year to the next, so now is a good time to ask your agent if you’re missing out on any savings. You may also look into bundling multiple policies under one provider to lower rates and streamline the payment process. 

As you get ready for spring this year, make it a priority to reevaluate and adjust your auto insurance as needed. The professionals at Stautberg Financial Group can help ensure your policy is up to date and accurately reflects your present life circumstances. For more than 40 years, they have provided residents in Cincinnati, OH, with high-quality products and the most competitive rates available. Call (513) 821-6300 to request an insurance quote, or visit them online for more information on their policies.