Annual Insurance Reviews Could Uncover Discounts

Many people assume that insurance is a “set it and forget it” type thing.  They sign up for an auto or home policy, make their monthly payments, and leave the rest to their provider.  But annual insurance reviews are an important part of maintaining an insurance policy that offers the best coverage and the best rates.

Annual insurance reviews can help protect you in the event of a loss by finding something you don’t currently have covered.  They help add additional coverage, sometimes at no additional cost, and they can even find discounts that you aren’t currently getting.

“Reviewing your insurance policy each year ensures you have the coverage you need and you’re taking full advantage of available discounts and savings,” said Kathy Lawson, Manager of Insurance Client Relations at AAA Ohio Auto Club.

Annual policy reviews can find you discounts and savings like:

Auto Insurance Discounts

Multi-vehicle discount:  Insuring all of your vehicles through AAA Ohio Auto Club Insurance Agency might bring savings.

Driver training program discounts:  Senior and teen drivers might be eligible for discounts by completing courses or programs.

Good student discount:  You might save if you’re a parent insuring a full-time or part-time student who meets specific grade point average and driving record qualifications.

Low mileage:  If you drive fewer miles, you might be able to save on car insurance.

Higher deductible, lower premium:  Raising your deductible—the amount you’ll pay out of pocket before your insurance company payment kicks in—can reduce your annual premium.  In this case, make sure you have enough money set aside in case you need to file a claim.

Home Insurance Discounts

New loan discount:  If you recently purchased a home, your homeowner’s insurance premium might be reduced in the first year if you get a mortgage to purchase your home.

Home protection discount:  Discounts might be available if your home is in a gated community or equipped with theft and/or fire protection systems.

Other Discounts

Multi-policy discounts:  Insuring both your home and vehicle(s) through AAA can result in savings.  Renters might also quality for a multi-policy discount.

Loyalty discount:  If you’ve insured your vehicle(s) through AAA or another insurance provider for a designated length of time (without lapses), you might be able to receive a discount.

Now that you know why annual insurance reviews are so important, it’s valuable to also know how to make the most of your policy reviews.  You don’t have to wait for a one-year mark to talk to your agent.  If there’s been a change in your life—if you’ve added an addition to your home, bought a new car, gotten married, etc.—you’ll likely need a change in your insurance too.  It’s important to keep track of these things so you can come prepared when you decide to talk to your agent for a policy review.

Ask questions.  Insurance can involve a lot of confusing terms.  Don’t be afraid to ask your agent to break things down for you in a way that’s easy to understand.

Leave no stone unturned.  Explore all of the insurance-related risks like falling trees and trampoline accidents.  Knowing your risks helps you better understand your coverage for those risks.

Don’t sacrifice coverage for cost.  We all strive to save a few dollars here and there, but if cutting your coverage to pinch pennies puts you or others at risk, it can hurt you and your finances more in the long run.

Having said that, don’t be afraid to ask about discounts.  If you’ve found great coverage, you can always ask about savings and discounts that help you without minimizing your protection.

If it’s time for your annual policy review, or if you’ve made changes in your life and have questions, schedule a call with a AAA agent today. We’re always here to help you enjoy quality insurance coverage and peace of mind.

For more information on insurance discounts, visit or talk with a AAA Ohio Auto Club insurance agent at (800) 288-4467.