10 Reasons to Check Your Coverage

As our lives change, so do our insurance needs. Speaking to your Agent about these changes can ensure that you have adequate coverage. In some cases, your agent can also offer safety guidance.

The following situations are examples of when to check your coverage:

1. Remodeling or Building an Addition to Your Property - When you hire the contractor, request a certificate of insurance to confirm their liability coverage. Review the certificate and your homeowners policy with your agent. In some cases, remodeling projects can increase your home’s reconstruction value.

2. Teen Drivers – If a teenager in your home is learning how to drive, even with a learner’s permit they need insurance. Your agent can also provide materials about safe driving behavior.

3. New Swimming Pool - Your agent can recommend steps that you can take to help keep your backyard safe and determine whether additional liability coverage should be considered.

4. New Work Location – If you have accepted a position where you will have a shorter or longer commute to work, call your agent. A significant change in annual mileage could warrant a change in your auto policy.

5. Retirement – When it’s time to retire, you may be able to maximize the benefits of your retirement plan with a life insurance program.

6. A Change in Vehicles – If you’ve purchased or leased a new or used vehicle you should contact your agent as soon as possible. Car dealers are required by law to confirm insurance coverage, but only you can make the necessary changes to your policy.

7. Home or Auto Refinancing – When you’re taking advantage of lower interest rates by refinancing your home or vehicle, your policy will need to be updated to reflect the new lien holder.

8. Just Married or New Baby – When you get married or welcome a new baby to the family, the new responsibilities may warrant a change in your home, auto and life insurance coverage.

9. Purchasing Valuables – When you purchase valuables such as a diamond ring or a rare piece of art, you should contact your agent. Your homeowners policy covers personal belongings and furnishings, but higher-valued items may have coverage limitations. An endorsement may be advisable for more costly or unusual items.

10. Home Business – If you are starting a business in your home, you should call your agent. Depending on equipment and the nature of your work, an endorsement or separate policy may be necessary to protect your investment and liability exposures.