Here are some reasons why you should conduct a year-end review of your insurance.
With the year coming to an end, it’s natural to look forward to the coming year. However, when it comes to your insurance, it’s important to reflect on the past year in order to ensure that you have the right coverage for the new year. Here are some reasons why conducing a year-end review of your insurance is so important.
Update Your Information
One reason why you need to review your insurance at the end of the year is to make sure that all your information is up to date. If you had changes in your circumstances throughout the year, it’s important that your various insurance policies reflect these changes. For instance, if you moved, got a new car, had a child, etc. then these are all changes that need to be reported to your insurance company. If your policies are not updated with your most recent information, then your insurance company might not renew your policy or, worse, might refuse to cover a claim.
Look for Changes
Another reason why you need to review your various insurance policies at the end of the year, is to check for any unexplained policy changes. For instance, you should check for insurance premium increases. While some of these increases could be legitimate and verified by your insurance agent, some of these increases could be a result of a mistake. Checking to make sure that all changes are legitimate could prevent you for paying more for your insurance than you need to.
Get New Discounts
Finally, it’s important to conduct a year-end review to get any discounts or reduced rates that you didn’t qualify for previously. Life changes mean that you might now have access to new discounts. If you discover that you now qualify, make sure that all these discounts are applied to your policies. This will help you save a significant amount of money on your insurance for the coming year.
These are some of the reasons why you should conduct a year-end review of your insurance. If you have any questions regarding your insurance or if you need to get coverage for the coming year, then turn to the experts at Fuller Insurance Agency
in Southern California. Our dedicated team is ready to assist you with all your insurance needs. Contact us
to get started today.