Did you know that every one of our clients is offered an annual insurance review at The Agent Insurance Services? There are many benefits of an annual insurance review – including the opportunity to save you money!
Benefits of an Annual Insurance Review
When it comes to insurance, it is important to have the right policy that provides the necessary protection for you and your family. As your life changes, your insurance coverage should also adapt accordingly. Ideally, you would contact your insurance agent every time you make a home renovation, purchase a new vehicle, or start a new job. However, life can get busy and evaluating your auto, home, or life insurance coverage may not be a top priority. This is where having a trusted insurance advisor (like The Agent!) is important. Your agent can monitor your policies and proactively reach out to ensure they still meet your needs.
When we contact you and offer to review your coverage each year, here is what we will go over:
1. Personal information: It is important to provide your agent with up-to-date information about yourself and your family. This includes your mailing address, phone number, email address, and all household members. Inform your agent of any name changes due to marriage or divorce, or if you have had a child since your last conversation. These changes may require adjustments to your policy beneficiaries. Ensuring accurate information is on file helps prevent delays in the event of a claim.
2. Covered drivers: If there have been any changes to the drivers covered under your auto insurance policy, let us know. This could include a child who is about to obtain their driver’s license or someone living with you who regularly uses your vehicle. Additionally, if you are considering purchasing a new vehicle, let us know.
3. Home updates: If you have made significant upgrades to your home, such as renovating your kitchen, transforming a bonus room, or finishing your basement, it is important to inform your agent during your review. These improvements increase the value of your home, potentially requiring a higher limit on your homeowners policy. Failing to adjust your limits could result in a coverage gap, leaving you underinsured in the event of repairs or rebuilding. Discuss with your agent how guaranteed replacement cost coverage can provide peace of mind. Plus, if you have upgraded your roof, HVAC unit or other home appliances, you might qualify for a discount!
4. New purchases: If you have acquired any new assets, such as a boat, all-terrain vehicle (ATV), golf cart, or valuable items like musical instruments or jewelry, you may want to consider separate insurance policies to protect these investments. While insurance may not be mandatory for watercraft and off-road vehicles, it is still crucial to safeguard your significant purchases. Sharing an updated home inventory with your agent will help them determine if personal valuables insurance is necessary.
5. Job changes: Inform your agent of any employment changes, such as retirement or transitioning to remote work. Reduced mileage from commuting may result in a lower auto insurance rate. Additionally, if you have recently received a promotion, it may be prudent to review your life insurance policy to ensure adequate coverage beyond what your employer provides.
Get organized before your Annual Review! Download our complimentary review checklist here.
And if your current insurance agent does not offer annual reviews, it is time to switch to The Agent Insurance Services! Start your complimentary insurance proposal here.
A little more about The Agent Insurance Services…
The Agent Insurance Services is a full-service independent insurance agency. This allows us the ability to offer a full range of protection such as home and auto insurance, commercial insurance, and life insurance to all of our clients. To put it simply, we make sure our clients have the same coverages we have. Why would you want anything less? Our exceptional team of Protection Advisors offers professional advice and service you can afford. Please call us and tell us what is important to you. We’ll do the rest.