Is It Time to Update Your Auto Insurance?

When you own a vehicle in Plano, TX, you know that maintenance is vital. That’s why you carry out scheduled maintenance as per your manufacturer’s recommendations. To even up your game, you undertake car mods to ensure that your ride remains in tip-top condition. Unfortunately, many motorists shun the idea of upgrading their auto insurance until something unfortunate happens. If you are wondering when it’s a good time to update your auto insurance, stay on as Paragon Independent Insurance Agency shares tips. 

Here are some situations to signal that you need to review your auto insurance:

  • Teen driver: If you would like your teenage son or daughter to drive your car, you need to adjust your auto insurance. Teenagers carry an added risk when driving. As such, you need proper insurance to protect them. To note is that your teen’s academic performance, completing a defensive online course, and installing anti-theft devices affect your auto insurance rate. 
  • Changing vehicle use: If you want to use your personal vehicle to run commercial errands, you need to update your insurance to commercial auto insurance. Otherwise, your insurer won’t compensate you for accidents that occur when carrying out commercial activities using personal auto insurance. 
  • Moving to a different residence: Change of locality affects your auto insurance rate. Depending on how the accident or theft-prone your area is, your insurance rate can either go up or down. 
  • New vehicle: Suppose you have acquired a new car using a car loan. While your financier might allow you to transfer your current auto insurance, you have to upgrade it to your financier’s requirements. Most likely, your financier would want you to add more coverage options. 

As you can see, there are many reasons to review your auto insurance. If you are unsure whether it’s time to update your auto insurance, please talk to the Paragon Independent Insurance Agency of Plano TX, for more information.