Insurance is an important part of our lives, providing financial protection and peace of mind in case of unexpected events. Whether it’s auto, home, or life insurance, having the right coverage for your family is essential. Once you’ve purchased insurance, it’s not a one-and-done task. Review your insurance coverage at least annually to ensure it still meets your needs and provides adequate protection for your assets and loved ones.
Life Changes
Our lives are constantly evolving and so are your insurance needs. Major life events, such as getting married, having children, buying a new home, starting a business, or retiring, can significantly impact your insurance requirements. For example, if you’ve recently had a child, you may need to increase your life insurance coverage.
Cost Savings
You may be eligible for discounts or better rates based on your changing circumstances. For instance, if you’ve purchased a second car, you may qualify for a multi-car discount on your auto insurance policy that typically reduces your cost by 10 to 25 percent.
Policy Updates
Insurance companies may revise their policies and coverage options over time. These changes can affect your premiums, deductibles, coverage limits, and other terms and conditions. By reviewing your insurance coverage periodically, you’ll stay informed about any policy updates and can make adjustments to your coverage accordingly.
Risk Assessment
Your risks and liabilities change over time and it’s important to assess your exposure to potential losses. If you’ve acquired valuable assets, you may need to increase your coverage or if you have downsized to a smaller home, you may be able to reduce your coverage. Regularly reviewing your insurance coverage with your agent, allows you to make informed decisions about the amount of coverage you need.
Contact us to schedule a time to review your policies and ensure you have the right protection in place.