Why should I review my car insurance every year?
For all road users in the UK, car insurance is absolutely imperative. The need for car insurance has legal roots, by law it is a requirement to protect any third parties (including; other road users and pedestrians).
Legalities aside once you’ve completed this mundane task in its entirety, do you ever feel a sense of relief wash over you and a surge of happiness at the thought of not having to go through that again? If your answer is yes, we have some slightly bad news for you. After days or may be even weeks of deciding which quote to choose, car insurance quotes are the last things you want to revisit again, but if you’ve ever wondered why you should annually review your car insurance, here are a few important reasons.
The only way to truly make sure that you are receiving the right cover at the best possible and most affordable price for you is to review your insurance policy year on year. Prices in every industry fluctuate and for car insurance companies, it is no different. A price you were quoted 18 months ago might’ve lessened in the latest quarter of the fiscal year or doubled, either way it is important that you are aware of such information – so find out!
State of affairs!
However miniscule your circumstances may seem, they play a key role in the overall picture of your insurance and from the view of an insurance company, your circumstances can be used to calculate how much it is deemed necessary to charge you. If you are given the chance to re-submit information, be sure to include information about any changes in your circumstances. As obvious as this may perhaps seem, do also check for any errors with your application form as any benefits or discounts you may be entitled to are not applied to your cover. The smallest mistakes can even affect future car purchases. Remember to also remove any names of additional drivers who no longer need to be covered by your policy – save money; you should not be paying for additional drivers who may now have their own policies!
Right for you!
Like most things in life, better choices could’ve been made but most of us go on, living with those decisions the best possible way that we can. In terms of car insurance, when the time comes to review your cover – there is no need to just ‘go on’ and continue to accept it because changes can be made! It’s understandable that mistakes will be made, but keep a close eye on the details of every possible insurance cover, as you may find halfway during the year that you have obtained the wrong cover.