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When to Update Your Life, Home, and Auto Insurance Policies

Updated: Mar 10, 2023

Life is constantly changing and so are your insurance needs. To ensure that your life, homeowner’s, and auto insurance policies offer you security, peace of mind, and protection during uncertain times, it is essential to regularly update them at least once a year.


With the year in its infancy, there's no better time than now to contact your insurance agent and do just that. And knowing some key instances when you should upgrade your insurance coverages will help make that conversation more productive:


Insurance Policy Coverage Options

Life Insurance

It's essential to review and update your life insurance policy to make sure it adequately provides financial protection for your loved ones after you pass on. Here are instances when you need to update your life insurance coverage:

  • Major changes in your life, such as getting married, having a baby, divorce, or loss of a loved one.

  • When you buy a new home.

  • The start of a new business.

  • When you experience significant changes in income.

  • The approach or beginning of retirement.

  • When there's a significant change in your health.


Homeowner's Insurance

Your home is a significant investment. With an upgraded homeowner’s insurance policy, you will have the coverage to protect your home and belongings in case of unforeseen events. You should upgrade your homeowner's insurance policy when:

  • You have made any improvements or renovations to your home, such as adding a room or a pool.

  • You have acquired new valuable personal belongings, such as artwork, jewelry, or electronics.

  • There are new risks, such as the purchase of a dog or the addition of a swimming pool.

  • You've upgraded your security system.

  • You've purchased a new house.


Auto Insurance

Auto insurance helps cover the costs of repairs or replacement to your vehicle and other motorists' vehicles. It offers peace of mind knowing that you are protected against financial losses in an accident or damage to your vehicle. You should update your auto insurance in these situations:

  • When you purchase a new vehicle or sell your old one.

  • You make modifications to your existing car.

  • When you move to a new location.

  • Changes in personal details, such as a change in name, marital status, or gender.

  • When you begin using your vehicle for commercial purposes.

Schedule a consultation and we would be delighted to discuss your current insurance policies. We will also upgrade them to ensure they provide the protection you need and the peace of mind you deserve.




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