We buy insurance and then sort of forget about it.
It's normal and happens to most of us.
But then a claim happens......uh oh.
The thoughts race through your mind - am I covered for this? Do I have enough coverage?
It's one reason why it's good for most consumers to call their agent at every renewal (or every other renewal at most), and ask for a review and break down of their coverage.
This review can take place over the phone, via email or in person.
The easiest reminder to review coverage is when you get your renewal. For auto insurance that could be every six months or once a year (depending on which company we have you with), and for homes it is annually.
In life insurance there is a saying, "Life Insurance is for those you leave behind".
In Auto & Home Insurance, the saying should be: "Review your auto and home policies Before you have a claim".
Why to keep in Contact with My Agent
True Story: a neighbor of mine (that I do not insure unfortunately) just added over 600 square feet to their home. I asked if they had notified their agent about the addition and they had not. Big mistake. The insurance company is insuring a smaller home and charging a premium based upon the original square footage. As I explained to my neighbor, the insurance company has based their policy & premium on the home without the new addition. If they want to ensure the new addition is covered, they needed to notify their agent.
While the above is not a normal example of a typical life change, there are changes in our lives that happen during the course of a year. Take thirty minutes out of the 525,000 minutes you have every year and call to discuss any changes that have happened, and whether or not your current coverage is still appropriate for you.
You may assume that the policy you took out originally is still ok. And it might be. But let's make sure.
Remember, would you rather ensure you have the right coverage before OR after a claim?
And keep in mind, a review can be very informal. You can do it through email, by phone or in person.
Phoenix Life Insurance, Arizona Life Insurance
Arizona Auto Insurance
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