3 Mistakes That Can Cause You To Spend More On Car Insurance Than You Have To

As a driver, you have probably had car insurance for years. You might think that you're pretty much a pro at it by now, but there's a chance that you are making some common mistakes with your coverage. These mistakes can cost you a lot of money, so it's important to check out this list and make sure that you aren't making any of them.

1. Being Too Loyal

You may have been with the same insurance company for a long time, and you might not have even thought about shopping around for coverage elsewhere. However, it pays to check rates with various companies because premiums can vary widely from one insurance company to another. Every time that it's time to renew your insurance policy, it's a good idea to shop around. You might be able to find a much better rate, and changing providers can save you a ton in some cases.

2. Not Informing Your Insurance Agency of Life Changes

Failing to inform your insurance company of any big life changes can cost you money. If your teen is out of the house -- such as in college or living on his or her own -- then contacting your insurance company and letting them know that he or she is no longer driving your vehicles can save you a lot of cash. Retiring can mean that you don't have a commute anymore, which can equal less driving and lower rates. Make it a point to let your insurer know about these big changes if you want to score the discounts and rate reductions that you are owed.

3. Not Adjusting Coverage Periodically

Failing to adjust your coverage as needed can result in paying for things that you don't need. If your car was financed but is now paid off, it might be worth your while to reduce your coverage to liability-only. If you have recently signed up for a roadside assistance club, you may be able to remove towing assistance from your policy to save money. Look at your coverage and limits on a regular basis, and make changes to your policy as needed.

As you can see, there are some pretty common mistakes that can cost you a lot of money if you aren't careful. Even if you've had insurance for a long time, it can be smart to check to ensure that you aren't making these mistakes if you want to save as much as possible on your coverage. Contact a company like ESI Insurance Agency for more information.