It's Time For An Insurance Review!

Spring is a time of change for many reasons. Spring cleaning and tax season come to mind, but what about insurance reviews?

Organizing your space and paying your taxes on time are very important things to cross off your list, but reviewing your insurance shouldn't be left behind. An annual review with your agent can reveal a number of things that might need updating, and those items can mean better coverage and savings for you.

We're conducting annual reviews with many of our clients right now, and there are many things that we are analyzing when we do. Here are some of the important items that we look for, and where questions often arise, during annual reviews.

Coverage Changes

Your life circumstances and needs can change over time. Reviewing your policies annually ensures that your coverage still adequately protects you and your assets. For example, you may have acquired new valuable assets like jewelry or holiday gifts, or undergone life changes such as marriage, having children, or purchasing a home. Any of these major purchases or events could necessitate adjustments to your coverage. The flip side may also be true; maybe you downsized your home or retired. Those important life changes bring insurance changes too!

Policy Updates & Cost Savings

Insurance policies can be updated annually with new features, options, or discounts. By reviewing your policies, you can ensure you are taking advantage of any new benefits or discounts that may have become available since you last reviewed your coverage.

Furthermore, insurance premiums can fluctuate due to various factors such as changes in your risk profile, insurance company rates, or available discounts. By reviewing your policies regularly, you can identify opportunities to save money by adjusting coverage levels, bundling policies, or taking advantage of discounts.

Understanding Policy Terms & Risk Assessments

Insurance policies can be complex, and it's easy to overlook details that may affect your coverage. Regularly reviewing your policies with your agent gives you the opportunity to ask questions and clarify any confusing terms or conditions, ensuring you have a clear understanding of your coverage.

Additionally, your insurance agent can help you assess your current risks and recommend appropriate coverage options based on your specific situation. Regular reviews allow you to address any gaps in coverage or potential liabilities before they become problematic.

Wrap It Up

Be sure to add insurance policy review to your spring cleaning this year! Reviewing your insurance policies annually with your agent is a proactive approach to ensuring that you have the right coverage at the best possible price, while also staying informed about any changes or updates in the insurance landscape.

I'm happy to talk with you and answer any questions about your insurance policies this spring, or anytime!