New Year's resolutions are right around the corner, and as many people review their financial goals, GMAC Insurance suggests it's also a great time to give your auto insurance a tune-up.

The company reveals some of the top mistakes people make when shopping for auto insurance and offers tips to help get the most out of your coverage:

  1. Leaving Yourself Financially Exposed.
     Many people choose lower liability rates to cut costs, but this may not
     provide the financial protection you really need.  A bad accident can
     result in medical bills and lost wages amounting to hundreds of
     thousands of dollars, which would far exceed minimum liability coverage
     limits.  Make sure you purchase enough coverage to protect you and your
     assets in worst-case scenarios.

  2. Shopping for the Lowest Price Available.
     We've all heard the claims that we could save money on our auto
     insurance - but many times, the old adage "you get what you pay for" is
     true.  Do yourself a favor, and assess all of the benefits included to
     see the true value you can receive; some insurers offer enhanced
     services free of charge, such as roadside pickup and rental car
     delivery, and some even offer a lifetime guarantee on repairs.

  3. Settling for Policies That Don't Fit Your Lifestyle.
     Your driving lifestyle is not the same as your neighbor's, so why
     should you have the same insurance policy?  You may qualify for certain
     discounts and services that match your particular driving habits. For
     example, if you have an extra car that you drive infrequently, you may
     be eligible for a low-mileage driving discount.

  4. Underestimating the Value of OEM Parts.
     Does your insurance company use original equipment manufacturer (OEM)
     parts in collision repairs after accidents?  Many companies use less
     expensive aftermarket parts, which may decrease the value of your car,
     affect its appearance and jeopardize the warranty.

  5. Neglecting to Consider a Major Life Change.
     As your life changes, so should your insurance policy. Something as
     basic as forgetting to add your new teen driver can cost you dearly in
     the case of an accident. If any of the following apply in the past
     year, you may need to alter the type and amount of coverage you carry:

   -- You purchased a new home, new car or other property
   -- You've had a change in marital status
   -- You started a business
   -- Your child started driving
   -- You moved residences
   -- You retired

For more information about GMAC Insurance and to find a local independent agent, call 877-468-3466 or visit www.gmacinsurance.com.