December and January make excellent months to reflect on the past year and make changes for the new one. Perhaps you set new goals for your health, your career, your finances and family. You probably think about paying off your mortgage or starting college funds for the kids, but how often do you review your insurance--the very things that will protect your finances during the more difficult times in life? 


Once a year is usually often enough and now is the perfect time to review your insurance polices and update them to reflect your current season of life. Spending a couple of hours reviewing your policies may save you countless hours and thousands of dollars if an unfortunate event happens and you're adequately insured. 


 Your Three-Step Yearly Review Process


 First, consider how your life has changed in the past 12 months. Here are some situations to get you thinking, if you've:

  • moved in with your partner, is there enough renters insurance to cover your belongings as well?
  • bought a better car you probably want to increase your auto insurance coverage.
  • been joined by a kid, or two, you need to update your life insurance policy to reflect the need for extra income in the event of your passing. Make sure your partner has a policy on them, too. 
  • built an addition on your home and need to protect the value of your investment by increasing your home insurance. 
  • sold something--a boat, motorcycle, jewelry or rental property--you may no longer need a certain insurance policy or specific coverage. 


Next you need to read through each policy, reviewing the coverage and making notes of any changes that you feel are necessary. Jot these down on paper so you don't forget them when you discuss them with your insurance agent.


 Finally schedule a time to talk with your insurance agent about the changes, ask questions and approve the changes you want made. Feel free to ask questions and advice about insurance policies and coverage; your agent is here to help you understand your insurance options so that you can make well-informed decisions before you buy your policy. Contact us today to discuss your existing insurance policies or get new ones!