Watching Your Wallet: Insurance Review

Published: Jun. 9, 2022 at 6:42 PM EDT
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If you haven’t had any car crashes or fender benders in several years, if you have no claims against your auto insurance or your homeowner’s insurance, Michael Joyce with the financial firm Agili says it doesn’t hurt to ask for a re-rate. He says if you’ve not had any claims in recent years, you could likely see a drop in your premiums.

“They’re not going to offer this to you. They’re not going to send you an email saying, ‘Hey, we want to lower your lower your premiums right now,’ but they’re in a competitive environment as well. They’re looking to keep you as insured.”

Joyce says it’s good to get into the habit each year of reviewing your insurance policies to make sure they cover what you need.

He adds a financial advisor or trust insurance agent could also help you see if a re-rate would potentially work in your favor and save you money.

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