Personal Insurance Review: Time Well Spent
Between your career and family, you're probably pretty busy. However, by making some time for a Personal Insurance Review, you can help determine whether your insurance coverage is keeping pace with the changes in your life and if you are receiving all the discounts for which you might qualify.
What sort of changes might entail adjustments to your insurance? Here are some of the more common milestones:
You'll likely need adequate life insurance to help ensure that, in the event of your untimely death, your child could live comfortably and would have the funds available for college.
If your new home is worth more than your old one, you may need to purchase more life insurance so that your family could have funds to help pay off the mortgage.
New Use of Your Home
If you decide to open a small business in your home, you may need business insurance.
New Areas of Your Home
If you've remodeled your home, you may need to upgrade your homeowners insurance.
If your kids are grown and you sell your home to move into an apartment or condo, you'll want to consider renters or condominium insurance.
If you're newly married or if you remarry, you may need to change the beneficiary designations on your life insurance documents.
If you've purchased some items of great value, such as jewelry or pieces of art, you may need to modify your homeowners insurance.
All information provided in this article is for reference purposes only.