Insurance Checkup- When and Why do this?

1. Life Milestones

Life is a journey, and it’s marked by various milestones. Whether you’re getting married, having a baby, buying a house, or sending your last kiddo off to college, each milestone comes with its own set of insurance considerations. Your coverage should adapt to reflect these changes. That way, you’re not overpaying or underinsured.

2. Policy Enhancements

Insurance providers frequently update their policies and offer new features. A checkup is the perfect time to see if there are any enhancements or additional coverages that could benefit you. 

3. Changes in Assets

When you make big purchases, or sell things like a car, property, or valuable item like jewellery or art, then your insurance needs to be adjusted accordingly. 

Another place to look? Your financial portfolio. If you notice any significant changes, be sure to take that into account during your checkup. 

When to Schedule Your Insurance Checkup

So, when is the ideal time for an insurance checkup? Here are some key triggers that should prompt you to get in touch with your insurance agent:

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1. Annually

Make it a habit to review your policies annually. Set a date that works for you – perhaps tied to your birthday, the start of the year, or another significant event – and use it as a reminder.

2. Major Life Changes

Anytime a major life change occurs, it’s a signal to check in on your insurance. Whether it’s a marriage, a new job, or an empty nest, these transitions often come with shifts in your insurance requirements.

3. Policy Renewals

Don’t wait until the last minute to review your policies at renewal time. Take a proactive approach and use the renewal period as an opportunity to ensure your coverage is up-to-date, which your insurance agent can help with!

How to Conduct Your Insurance Checkup

Ready to roll up your sleeves and get started? Here’s a quick guide on how to conduct an effective insurance checkup:

1. Gather Your Policies

Compile all your insurance policy information, from auto to home to life insurance. Having them in one place makes it easier to compare coverage across different areas.

2. Assess Your Coverage

Review the coverage limits, deductibles, and policy details to make sure it all looks like it covers your risks. Consider any changes in your life or assets that may need you to make adjustments.

3. Ask your Agent for Help

Need some help with your insurance review process? Check in with your agent. They likely know the state of the insurance world, how to find the best prices, and how to best cover your risks.

Need an agent? We are happy to help.

Wrapping It Up

Your insurance policies are there to support you through life’s twists and turns. Give them the attention they deserve, and you’ll enjoy the peace of mind that comes with knowing you’re well-covered. 

Happy policy reviewing, and here’s to a future full of well-protected adventures!