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(and Are Easy to Make)
Most people think about calling their insurance broker when they buy a new car or after an accident. But between those two events, life changes… and we don’t always think about our auto insurance.
A new job, a teenager who starts driving, a move or a change in how you use your vehicle may seem insignificant. Yet some changes can affect your premium, your coverage or how a future claim is handled.
Here are a few small oversights worth paying attention to.
1. Forgetting to report a change of address
Moving only a few kilometres away? Your new address still needs to be reported to your insurer.
Where you live and where your vehicle is primarily parked are among the factors used to assess risk. The frequency of theft, accidents and claims can vary from one area to another.
And if you move farther away, your driving habits may change as well.
So when you move, remember to update your address with the SAAQ… and make a quick call to your broker too.
2. Underestimating how many kilometres you drive
For the past few years, you may have been working from home and barely using your car. Then you change jobs and start commuting five days a week.
Your annual mileage may have changed significantly.
The distance you drive and how you use your vehicle are among the factors that can influence insurance rates. If your driving habits change substantially, it’s best to let your broker know.
The opposite is also true: if you’re driving much less than before, tell your broker that too!
3. Not reporting another person who regularly drives your car
Your spouse now takes your vehicle every day. Your teenager just got a driver’s licence. Your daughter borrows the car several times a week to get to CEGEP.
Since the vehicle belongs to you, you might assume it doesn’t make a difference.
However, your insurer needs to know who regularly drives the vehicle and determine who the principal driver is.
Occasionally lending your car to someone and making it regularly available to them are two different situations.
4. Using your car for work without mentioning it
You’ve always declared your vehicle for personal use, but your job has changed.
You now visit clients, regularly travel to different work locations or make deliveries.
Not all types of business use are treated the same way. What matters is that your insurer knows how the vehicle is actually being used so your policy can be adapted to your situation.
If your car has become part of your workday, your broker should know about it.
5. Assuming everything inside your car is covered by auto insurance
Someone breaks into your car and steals your laptop, phone or sports equipment.
Your auto insurance covers everything, right?
Not necessarily.
Personal belongings stolen from a vehicle are generally covered under home insurance rather than auto insurance. Damage to the vehicle itself may be covered by your auto insurance, depending on the coverage you purchased.
And, of course, the best strategy is still to avoid leaving valuables visible inside your vehicle.
6. Adding accessories without checking whether they’re covered
New wheels, audio equipment, specialized accessories, cosmetic modifications or equipment added after purchase: your car may no longer be quite the same vehicle that was originally described to your insurer.
Some accessories or modifications can affect the value of the vehicle or the risk associated with it.
Before investing a significant amount in modifications, ask your broker whether they need to be reported and how they would be covered in the event of a claim.
7. Choosing a deductible… and then forgetting how much it is
When you purchased your policy, you may have chosen a higher deductible to reduce your premium.
A few years go by and, after an accident, surprise: you had completely forgotten how much you would have to pay out of pocket.
A deductible of $500, $1,000 or more can make a noticeable difference in your budget.
At renewal time, take a moment to review your deductibles and ask yourself whether they still make sense for your financial situation.
8. Automatically renewing without reviewing your needs
This is probably one of the easiest oversights to make.
You receive your renewal notice, look at the new premium and put the document away.
But a lot may have changed since the previous year: your mileage, drivers, job, address, vehicle value or coverage needs.
Renewal time is the perfect opportunity for a quick insurance checkup.
Your insurance should reflect your real life
You don’t need to call your broker every time you switch to a different gas station.
But when a change affects who drives your car, where it’s parked, how much you drive or how you use it, ask yourself: should my insurer know about this?
The brokers at Assurances Groupe Vézina can review your auto insurance with you, make sure the information on file is still accurate and confirm that your coverage reflects your current situation.
A few minutes today can help prevent an unpleasant surprise tomorrow.
And if you can’t remember how much your deductible is… well, that’s probably a pretty good place to start.
