Here’s why it’s important to review your various insurance policies at the end of the year.
2017 is coming to an end. While you might be excited to think about the coming year, it’s still important to review the year that’s almost over. One of the things you should review is your insurance. Here are some reasons why conducting a year-end review of your insurance is important for you.
- Life Changes
One reason to conduct a year-end review is to ensure that all your insurance policies are updated and accurately reflect your circumstances. If you moved, got a new car, had a child, or made any other major life changes, then it’s important to make sure that your policies reflect these changes. Keep in mind that if your insurance provider does not have accurate information, they can refuse to renew your policy and can even refuse to cover a claim.
- Policy Changes
Another reason why you should conduct a year-end review is to check for any policy changes. For instance, you might notice that your policy is showing premium increases. While many increases are legitimate and can be explained by your agent, some increases can also be mistakes. Make sure you understand every change in your policy before renewing to ensure that you are not overpaying for your insurance.
- New Discounts
Finally, you should conduct a year-end insurance review to check to make sure you are getting all the discounts and reduced rates that you qualify for. Changes in your circumstances often mean that you now qualify for discounts that you did not qualify for previously. Make sure that all your discounts are applied to your policy to save a significant amount of money during the coming year.
These are some of the most important reasons why you should conduct a year-end review of your various insurance policies. If you have questions regarding your insurance or if you want to get updated coverage for the New Year, then contact the experts at Weeks & Associates Insurance Services in Thousand Oaks, California. We are ready to get you covered today.