26 Nov 3 Times You Should Check Your Insurance Policy
Review your insurance in these instances.
Insurance is there to protect you, your family, home, car, property, and pocket from the unexpected. However, it can only do its job if it is kept up to date and stays in line with your needs. Reviewing your insurance regularly can help you identify new needs and new coverage, as well as any gaps. Take a look at these key moments in life where you should review insurance coverage.
- Your family status changes
Whether you’re getting married, expecting a baby, or adopting a child, remember to review your insurance coverages. You may even need to take out new insurance, such as life insurance, now that you have more dependents relying on your income. Conversely, losing a family member through death or divorce should also prompt a policy review.
- Your teen is about to start driving
Once you have a new teen driver, adequate auto insurance is a must. Your teen should be added to your policy once they are ready to take the steering wheel. Although adding a teen driver to your auto policy may raise your rates, your costs may drop gradually as he/she gains more experience behind the wheel.
- You move or remodel your house
Renovating your home can change its value and introduce new risks that should be addressed by home insurance. Increasing the replacement cost of your home means that your insurance should be increased, too. Additionally, if you move home, you will need to tailor coverage to suit the house, even if your new property is the same size as your previous property.
These are just a few times when you’ll want to review your insurance policies. Talk to your trusted insurance agents Kevin or Marci to review your insurance coverage and needs.