As the new year begins, it is important to reflect on the events that took place and how they transformed our lives. Taking a look back at the ending year and forward to 2021 allows you to find out what you would have done differently and how you can improve the coming year. Conducting insurance review at the end of the year allows you to get a good picture of your auto and homeowners insurance to achieve your best interests.
So, why should you conduct year-end review of your insurance policy?
Auto Insurance
Reviewing your auto insurance allows you to make sure that your policy provides adequate coverage for all the drivers. Certain factors could require changing or update your current policy. For instance, you may have added new drivers, planning a long road trip, changed your driving habits, or changed the vehicles listed on your policy. A year-end review of your insurance policy allows you to confirm whether such changes are reflected in the policy. This gives you the peace of mind that your policy provides you and your family with enough coverage for the coming year.
Homeowners Insurance
When conducting a annual review for your homeowners’ insurance, focus on whether any changes in your home are reported to the insurance provider. Your home could have been damaged by a storm or you have made renovations in your home. The review allows you to make sure that your insurance information is updated and accurately represent your home. If your data is inaccurate, your insurance company can refuse to renew your policy. In some cases, they can even refuse to cover a claim on the basis of inaccurate representation of your home.
The annual insurance review also helps you check for any changes made by your company. The real estate market keeps on changing and this gets reflected in insurance policies. Other changes that may affect your insurance policy include changes in your income or changes in your living situation. Make sure that you understand how these changes are occurring before you renew your policy.
Bottom Line
Conducting your annual review allows you to check your policy and ensure it is up to date. At Jeff Johnson Insurance Agency, we take you through the process and help you understand the changes taking place in the insurance world. If you have any questions or concerns regarding your insurance, contact our experts. We will assist you and guide you to meet your insurance needs.
