When should you review your insurance? You should always review your insurance needs at least once a year. In addition, if you have a major life change. You should contact your insurance agent to make sure you have the appropriate coverages in place and no gaps in insurance. Below is a checklist to help you review and consider several changes that may affect your insurance which is a great start way to kickstart the new 2022 year.
Homeowners / Renters Policy
Changes in Home Value
Home Renovations or upgrades. Any recent renovation or upgrade to the home could mean there is a need to adjust your policy. There are some insurance carriers who will give you a discount for having a home security system that is monitored by a security company. Thus, making your home safer can mean savings for your home.
Home Inventory Checklist. There may be new jewelry or other items you have recently acquired that you want specifically scheduled on the policy. Ask your independent agent to see what specific coverages you will need for these such items and more.
Personal Auto Policy
Changes in Driving Habits. Are you retiring or maybe not driving as much? Your vehicle usage may change with you new lifestyle changes. Be sure to review your annual miles and vehicle usage to see if there are any premium adjustments that will be made to your Auto policy.
New Drivers. Adding a new driver, working from home, upgrading to a new vehicle, or moving to a new home could all affect your auto policy. Be sure to ask questions about your coverages and limits and make sure you are adequately insured.
New Life Events. Changes such as a new job, a growing family,
Changes in Beneficiaries
Lifestyle Changes. Changes such as losing weight or quitting smoking can all affect your life insurance policy.
Remember the most important thing is “Coverage versus Pricing”. One of the most important concerns when it comes to insurance is pricing. We all get it. The lowest premium may seem appealing, but it does not necessarily mean your home and auto have enough protection and appropriate coverages for you and your family. Think more about having the right coverage and limits in place rather than just comparing price only.
Don’t forget to “Ask Questions”. Do not be afraid to ask questions when you review your insurance with your independent agent. Insurance language can be complicated and overwhelming to understand. Therefore, having an independent agent is valuable because their knowledge and insight into your policies and coverages can help you decide what is best for you and your family. Start out this year on the right foot by reviewing your insurance and making sure your family is properly covered and protected.
Contact Paroubek Insurance today and have your insurance reviewed with one of our trusted advisors.