How to Discuss a Rate Increase with your Car Insurance Agent

When your car insurance bill arrives in the mail (or your inbox), you hope to find a number you can live with. Nobody wants to pay for coverage, but you know this is something you have to do if you plan on driving.

If your premium remains the same, one period after the next, it is likely that you will feel comfortable with your current provider. However, if your premium increases, it may be time to pick up the phone to learn more.

Don’t call your car insurance agent when you are angry about the increase. Instead, give yourself time to review your policy and to think about what may have changed. From there, once you have cooled down, contact your agent to discuss your policy.

Here are the points you should touch on:

1. Find out why your rate increased. If it was something you did, such as receiving a speeding ticket, it is easier to deal with the increase. After all, you are responsible for the change. On the flipside, you may find that you did nothing wrong. Instead, your company simply increased your premium. If this is the case, you want to know exactly why.

2. Ask if there is anything you can do to save money. You may be surprised at how quickly your agent reacts when you start to give off the impression that you may drop your policy and find another provider.

3. Review your coverage. This is a good time to review your policy, ensuring that you have enough coverage (but not too much). You may be able to make some adjustments as a means of saving in the future.

These are just a few of the points to discuss with your agent should your car insurance premium increase. What else is on your mind?