When to Schedule An Insurance Review or Adjustment

You should never sign up for an insurance policy and then forget about it. Life changes, and so do your coverage needs. At the very least, you need to schedule an insurance review annually, but you should also do so after certain events. We’ve listed a few of those situations below. 

When your family changes

Births, deaths, marriages, and divorces are a common part of life, and they have huge impacts on your insurance. Maybe you need to adjust your life insurance beneficiaries and add or subtract a driver to your auto policy. You’ll need to consult with your insurance agent to ensure all of your relevant coverage is updated.  

Before your current policies expire

Always keep up with coverage expiration. Mark a date on your calendar and remind yourself to schedule an insurance review. At Hibbs Insurance, our agents do annual premium checks to make sure you are still receiving the most competitive premiums. 

When your teen starts driving

You’ll need to add a driver to your current auto insurance when your child has passed into the intermediate phase of licensing. We also recommend applying for umbrella coverage when you have a new driver in the household. 

If you remodel your home

New roofs or home additions can change your house’s replacement cost. Check your insurance policy to see if you still have adequate coverage or need to adjust. 

If you gain or lose a job

In this case, you’ll need to either join a company’s health plan or find one on your own. You should also look into disability insurance to protect yourself and your family if you experience a severe injury or illness.

If your area experiences an increase in natural disasters 

You might want an insurance review on your home policy if you notice that your area is experiencing an increase in natural disasters like floods or tornados. This will give you peace of mind about your house and possessions.

Just before you retire

Find out how your health coverage will change once you’re eligible for Medicare. You might also need additional health insurance protection.

 

 

Whenever you want to take a look at your coverage, give one of our agents a call.
They will be happy to meet you for an insurance review.