When was the last time you shopped around for auto insurance? If it's been more than a year, then it may be time to do a little shopping by obtaining quotes from reputable carriers in your area. After all, why should you pay more than you need to for coverage on your vehicle? There are also some other "red flags" you should be on the lookout for that could indicate you're paying too much for your current auto insurance coverage.

You Haven't Had a Policy Review in Over a Year

Once a year, you should either meet with your insurance agent in-person or have him or her conduct a detailed policy review with you over the phone. The purpose of these reviews is to make sure that nothing has changed in your personal life/circumstances that could qualify you for a lower insurance rate. For example, if you recently accepted a work-from-home job and are no longer commuting to work each day, your annual vehicle mileage has likely dropped and you may therefore qualify for a lower rate. Likewise, if your marital status or other information has changed, your policy may need to be adjusted to reflect this. 

You're Paying More Than the National Average

The cost of auto insurance can vary greatly depending on your driving record, location, and specific coverage amounts. Across the United States, however, most drivers pay between $100 and $200 per month for car insurance. If you're paying significantly more than this for your coverage--especially if you don't have any derogatory marks on your driving record, there's a good chance you're paying too much.

You're Paying Convenience Fees and Other Charges

Ideally, your quoted insurance premium and monthly payment should only include your costs for coverage. The next time you take a look at your insurance bill or policy breakdown, check for added charges or fees, such as a "convenience" fee for making your insurance payment online. If you're being charged any fees on top of your quoted monthly cost for coverage, then it may be time to shop around with another company.

There are plenty of practical and effective ways to make sure you're getting the best deal on the auto insurance coverage you need. Be sure to keep an eye out for these common "red flags" so you can make sure you're not paying more than you should be for quality auto insurance coverage.