Many of us are us have changed our driving habits during the pandemic.
Some of us are driving less. Others may be using their vehicle for a new gig like food delivery. These changes could affect the type of auto coverage needed and, in some cases, save some money. If it has been a while since you reviewed your coverage, here are a few things to ask your insurer:
What is the driving classification for my vehicle? If you are driving fewer than 7,500 miles per year, you could save a few bucks by having your vehicle re-classified as low mileage or pleasure use. However, if your vehicle is being used for ride-sharing or delivery purposes, this classification may need to be changed in order to fully protect you and others.
How much can I save if I raise the deductible on my collision or comprehensive coverage? A higher deductible will lower premiums and could be a good option if you are able to absorb more out of pocket costs.
How much can I expect the insurer to pay for my vehicle if it is deemed to be a total loss at the time of a claim? If the amount is low, you may want to consider dropping collision or comprehensive coverage.
And, ask questions about other types of coverage such as gap insurance, (especially if you have a loan on the car), umbrella coverage, and roadside assistance.
For more information, check out the Wisconsin Office of the Commissioner of Insurance’s “Consumer’s Guide to Auto Insurance."