The Importance of Conducting a Year-End Insurance Review

Find out why reviewing your insurance at the end of the year is more important than you think.

With 2017 coming to an end, you might be thinking about all the possibilities that the New Year holds.  However, before you get too caught up in your plans for the coming year, it’s important to take the time to review your various insurance policies.  Here are some of the reasons why conducting a year-end insurance review is important for you.

Updating Your Information

One reason why it’s important for you to review your insurance policies is to ensure that all your information is accurate and up-to-date.  Whether you renovated your home, got a new car, had a child, or so on, there were probably changes in your circumstances over the past year.  It’s important that these changes are reflected in your various insurance policies.  If your insurance company does not have your most current information, they could refuse to renew your policy, or, even worse, refuse to cover a claim.

Checking for Mistakes

Another reason you need to review your insurance policies is to make sure that there aren’t any mistakes.  One of the things you should be most careful to look for are premium increases.  While many premium increases are legitimate and can be explained by your insurance agency, sometimes these increases are the result of an error.  Investigating any of these changes in your policy is the best way to ensure you aren’t paying more for your insurance than you have to.

Getting More Discounts

Finally, you should review your insurance to make sure that you are getting all the discounts and reduced rates that you qualify for.  Oftentimes, changes in your circumstances mean that you now qualify for discounts that were not previously available to you.  Making sure that these new discounts are applied to your policies will save you a significant amount of money on your insurance for the coming year.

These are some of the reasons why you should review your various insurance policies this December.  If you have any questions regarding your policies or if you simply want to get the coverage you need for the coming year, contact Stromsoe Insurance Agency.  Located in Murrieta, California, we are ready to address all your insurance needs.

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