Why You Should Review Your Insurance Policies at the End of the Year

Make time before the year is up to review your current insurance policies.  

The end of the year is the ideal time to review your insurance policies, from home to life to auto to business. It makes perfect sense to review your policies to see what coverage you must add, subtract or increase. This is to ensure that all risks are covered, and that you sleep well at night knowing that you are protected. As the New Year approaches, here is what you should know when reviewing coverage.

Add and remove coverage as necessary.

If your property, vehicle, lifestyle or situation have changed during the year, your insurance coverage should reflect those changes. If you’ve completed home repairs or improvements, the value of your home has likely increased, and therefore insurance coverage should be adjusted. Similarly, if you’ve bought a new vehicle or had a baby, your auto and life insurance policies should be reviewed, respectively.

Update your home inventory.

The only way you will know if you need more or less coverage is to take an inventory of your belongings. This should include all personal items inside the house, as well as the value of the property. If you received valuable gifts over the holiday period, now is the time to add them to your inventory.

Bundle your policies for extra savings.

You can enjoy extra savings when you take out multiple insurance policies with the same insurer. Having your home, auto, and life insurance policies with the same provider not only offers extra savings, it’s also easier to manage.

Contact Martplan Insurance Agency to talk with an insurance expert who can assess your insurance coverage and advise you on different ways to maximize your protection while you minimize your expense. Call us today!