Ask yourself these important questions to help you review your current coverages.
As the end of the year approaches, it brings us a great opportunity to consider reviewing insurance policies. Over the year, we may not always have our insurance policies at the forefront of our minds, which is why reviewing them often is a good idea. Having the right coverage not only helps you to save money, but it ensures that you have the right protection in place when you need it the most.
Take a look at these important questions to ask yourself when reviewing coverage.
- Family changes
Have you recently got married? Divorced? Had a baby? Adopted a child? If your family is growing, you should consider reviewing or taking out a life insurance policy. You may also be able to save money on your auto insurance if you combine coverage with your new spouse, too. If you got divorced or suffered a loss of a loved one, you will need to update your life insurance beneficiaries.
- Career changes
Have you had a significant change in your income? If so, you may want to consider securing an inexpensive umbrella insurance policy to better protect your finances and assets.
- House changes
Have you made any minor renovations? Updated the home in any way? Even small changes can alter the home’s value, which calls for more coverage. Additionally, if you have bought expensive items, such as jewelry or fine art, you may need to consider adding a floater or endorsement to your home insurance policy.