Why You Should Conduct a Year-End Review of Your Insurance
Find out why a year-end insurance review is a good idea for you.
With 2018 almost upon us, it’s natural to start planning for the new year. However, before you get too caught up in all your future plans, it’s important to stop and take a moment to review your insurance policies before the end of the year. Not sure why a year-end review is necessary? Here are a few reasons why reviewing your various policies is so important.
1) Update Your Information
One reason why you should review your insurance is to make sure that all your information is up-to-date. Over the past year, you have probably experienced life changes. If your home was damaged in a storm, if you purchased a new car, if you had a child, or if you experienced another major change, then it’s important that all these changes are reflected in your various policies. If your insurance company does not have your most current information, then they can refuse to renew your policy, or, worse, refuse to cover a claim.
2) Investigate Policy Changes
Another reason why you should conduct an insurance review is to check for any changes in your policy. One major change that you should look for is any premium increases. While most premium increases are legitimate and can be explained by your insurance agent, sometimes these increases can be the result of a mistake or incorrect information. By reviewing your various polices and investigating changes such as this, you can avoid paying more for your insurance than you need to.
3) Apply New Discounts
Finally, it’s a good idea to review your insurance policies to ensure that you are getting all the discounts that you qualify for. Changes in your circumstances mean that you might now qualify for discounts that were previously unavailable to you. Make sure that you take advantage of these new discounts and reduced rates. Reviewing your insurance to make sure that these discounts are being applied will save you considerable money on your insurance in the new year.
These are just a few of the reasons why conducting a year-end review of your insurance is so important. If you have any questions regarding your policies, or if you simply want to get the coverage that you will need for the coming year, then contact us. We at Moser Group Inc. in New York are dedicated to getting you the right coverage to fit your needs.