Don’t Set It And Forget It: Why Cluett Reviews Your Insurance Annually

When it comes to auto insurance, many people adopt a “set it and forget it” approach after securing their initial policy. However, making a habit of reviewing your auto insurance annually is not just a good practice—it’s essential for ensuring your coverage continues to meet your evolving needs and sometimes your wallet. 

If you aren’t reviewing your coverage you might not have the right insurance for your dynamic life OR you might simply be overpaying! At Cluett Insurance, we stress the importance of proactive policy management. Here’s why it’s crucial to review your insurance each year.

Life Changes — Your Coverage Needs to Keep Up

Life is full of changes, and each significant life event can affect your auto insurance needs. Whether you’re getting married, adding a teen driver to your policy, moving to a new home, or buying a new car, each of these milestones could impact your insurance coverage and rates.

For instance, marrying might qualify you for a multi-car discount, while moving to a new neighbourhood could lower your premiums due to reduced risk factors. Maybe you’ve gone through a divorce and realise you’re paying for something you don’t need anymore. Annually reviewing your policy ensures that your auto insurance reflects your current lifestyle, potentially saving you money or improving your coverage.

World Changes — External Influences on Your Policy

Our world is constantly changing, and these changes can directly or indirectly affect your auto insurance. Environmental shifts, such as an increase in severe weather events, can pose new risks that might necessitate additional coverage like comprehensive insurance for natural disaster damage.

Economic fluctuations can also impact your auto insurance. For example, during an economic downturn, you might need to adjust your policy to better suit a tightened budget without sacrificing essential coverage. Or understanding how inflation might indirectly impact your policy.

Recently, IBC broke down some legislature changes that the insurance industry in Nova Scotia should be considering. If your broker is on top of your account, these might highlight opportunities or gaps you may be unaware of.


optional coverage – collision or upset

Price Changes — Not Always What You Expect

Many people assume that insurance premiums inevitably rise every year. Don’t accept this as gospel because that’s not always the case. Insurance rates can fluctuate due to a variety of factors, including changes in the market, risk evaluations by insurers, and even improvements in your personal driving record or credit score.

At Cluett Insurance, we don’t just passively renew policies. We actively review and compare rates and coverages to ensure that our clients always receive the most value for their money. It’s essential to question and understand the factors behind your annual insurance rate adjustments.

The Role of Your Broker — Ensuring Value and Accountability

A good insurance broker doesn’t just sell you a policy; they become a partner in managing your risk. At Cluett Insurance, we take our responsibility to our clients seriously, ensuring that we proactively seek out the best options at every policy renewal.

We encourage our clients to hold us accountable, to expect thorough communication, and to receive personalized advice based on their unique situations. Your broker should be ready to explain your policy’s benefits, discuss any changes in your circumstances, and explore new opportunities that could enhance your coverage or reduce your costs.

Reviewing your auto insurance annually is more than just a routine check—it’s a critical practice to ensure your policy keeps pace with your life, the environment, and the economy. Don’t settle for outdated coverage or unexamined rate increases. Contact Cluett Insurance today to schedule a comprehensive review of your auto insurance policy. Let us help you ensure that your auto insurance meets your current needs efficiently and affordably.