Life changes fast. And when it does, your property coverage probably needs to change, too. 

Why? If you’re carrying too much coverage, that means you’re overpaying. If you’re carrying too little, then you’re taking on too much risk. 

There’s only one way to find out if you’re where you need to be: by making time for a quick checkup. 

Here’s how to find out if you’re properly covered:

Your Home
Whether you’re remodeling your home or buying a new one, a quick revisiting of your homeowners insurance will be needed.

Ask yourself:

  • Are you covered for the actual cash value of your belongings or do you have a replacement cost policy? Is this still the right choice?
  • Is your policy large enough to cover current rebuilding costs? 

Your Car
No matter your situation, it’s wise to evaluate your auto coverage regularly:

  • Do you have an older vehicle? If so, you might not need comprehensive coverage anymore.
  • What would happen if you were hit by an uninsured driver?
  • Have you recently gotten married or do you have a teen who’ll be driving soon?

Considerations for Both
Finally, there are a few questions that apply to any insurance coverage:

  • How much is your deductible? Do you feel comfortable with the amount?
  • Do you have enough liability coverage to protect yourself in the event of an unexpected event (like being sued)?

Checking In
Just like you probably schedule a yearly health checkup with your doctor, doing the same for your home and auto policies can help prevent problems before they start. This regular check-in can also bring you valuable peace of mind. 

Are you anticipating a change in your circumstances? Wondering if you could save a few bucks each month? Let’s talk about your options. 

Leave a Reply