6 Life Changes Your Auto Insurance Company Needs to Know

Life is constantly shifting, whether the changes be big or small they always seem to stir up stress and complicate scenarios. We know when dealing with life’s changes alerting your auto insurance company may not be on the forefront of your mind. To be fair we don’t need to know everything, BUT there are a handful of events which hold significant importance for you, and it is vital you keep your auto insurance company in the loop!

Here are 6 life changes that can really make an impact to your auto policy:

1. Purchasing a new vehicle. Whether it be brand new or just new to you it is incredibly important to alert your auto insurance provider by adding the vehicle to your policy.
2. Selling a vehicle currently listed on your policy. If you have gotten rid of or sold a vehicle, you need to remove it from your policy or you will continue to be charged for it needlessly.
3. New drivers. Do you have a child or household resident in the home who recently turned sixteen or that will be starting to drive soon? You HAVE to let your insurance company know. If they will be licensed to drive they must be added as a driver on your policy.
4. When your address changes. If you or your resident relative listed on your auto policy as a driver has moved, you must alert your auto insurance company. It sounds strange, but where you keep your vehicle can have an impact on your policy due to things such as traffic volumes, accident frequency, or proximity to emergency services.
5. Health coverage changes. If your health insurance recently changed you may qualify for an excess medical discount depending on your type of plan.
6. Changes in vehicle use. If a listed driver on your policy has started partaking in being a delivery service for a transportation network (Uber, Door Dash, Grub Hub, etc.) your auto insurance company must be alerted. Using a vehicle on your policy in this line of work changes the type of coverage needed.

These may seem like pretty straightforward changes to some, but many people forget to alert their auto insurance company. Fast-forward to when things go sideways, issues occur when the most up-to-date information is not readily available.

If you are ever unsure as to whether a specific life change should be reported to your insurance company the best advice we can give is to contact your agent! They will be able to guide you and advise whether the information is pertinent to your auto insurance.

Disclaimer: This is a general interpretation of processes and coverage. All claims are subject to Insuring Agreements, Endorsements, Exclusions, Terms, and Conditions of the Policy.

Have any questions about what you just read? Please contact your Independent Insurance Agent or email us at socialmedia@psmic.com!

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