Why You Should Schedule a Personal Insurance Review

Dreams Change. Your Coverage Should, Too

Insurance it’s that boring subject that nobody wants to talk about it until they actually need it. Most people don’t know what their coverages are or if they do have the right coverage. Did you know that one 1 in 3 people haven’t updated their policy in 10 years and over half of people would rather go to the dentist than deal with their insurance company? Do you know if you have the right coverage to protect what matters most to you?

Having insurance should provide a sense of security and peace of mind that you have financial protection against life’s sudden surprises. It’s designed to offer a safety net to protect you from paying costly expenses in the event of the unexpected.Your life is constantly changing. Whether you’ve got a new baby, a recent empty nest, changes to your car or home, or other lifestyle updates, making sure your coverage is up-to-date is one of the smartest things you can do.

A Personal Insurance Review is the perfect opportunity for you to spend one on one time with your insurance agent to reassess your policies and to confirm that your coverage are meeting your current needs. During a PIR, your agent will go over your coverages with you. They will help you identify any gaps in coverage, whether or not you need to add coverage that you might need. They will also discover that you might still be paying for coverages that you no longer need.

Here are some reasons why you want to schedule a PIR once a year:

Major life changes

Wheatear you’ve recently gotten married or divorce. Or maybe you just had a baby or your child left home, it’s a great idea to reassess not only your home policy but also your life policies. For example if you bought a life policy 5 years ago but you just bought a new house and had a baby you may be overdue for an upgrade to your life insurance policy.

Understanding your coverage limits and limitations

Most of you know that you need to have coverage but what does it mean to you having the right coverage. Your agent will explain each coverage in detail and also explain the benefits of being properly insured or the disadvantages of being underinsured.

Home Improvements

Have you remodeled your kitchen or added a swimming pool? It is important to let your agent know. Your home value might have increased, or the new additions might not be covered.

More valuable assets

Over the years, you’ve most likely accumulated some valuable belongings. From expensive jewelry to nicer furniture and appliances, you’ll want to go through your home and create an accurate inventory of your things. During a PIR, your agent will help you determine if the coverage amount you have now is adequate coverage for your newly taken inventory

Bundling policies

Your agent will make sure you’re enjoying the convenience of insurance packages and taking advantage of bundled insurance discounts.

Double check your discounts

Your company might have new discounts that you did not know you are eligible for. You might have added some smart technology to your home that makes you eligible for another discount. A personal insurance review is the perfect opportunity to make sure you are taking advantage of all the discounts available.

A PIR appointment will determine the best coverage for you. It will arm you with knowledge and give you the confidence that you have the best protection for your ever changing life.

Content provided by Women Belong member Ioana Laura Barham