You should review your insurance policy at least once a year, and any time a significant life change occurs. Policies that were perfect two years ago may have gaps today because your life, your assets, and your risks have changed.
Set a calendar reminder to review your coverage every year, ideally a month or two before renewal. This gives you time to make changes before the new policy period starts. During the review, compare your current coverage to your current life. Has your home's value changed? Have you added or removed vehicles? Did you make major purchases? Are your liability limits still appropriate for your net worth?
Check your coverage limits, deductibles, and endorsements. Make sure your declarations page is accurate. Verify that all drivers are listed on your auto policy and all properties are covered. Review your liability limits — as your assets grow, so should your protection.
Most people set their insurance and forget about it. That is how coverage gaps develop. At Truscott, we proactively schedule policy reviews with our clients because we know life does not stay the same from year to year. Request a Truscott policy checkup — it takes 20 minutes and could save you from a major coverage surprise.
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