As the old saying goes, the only constant thing in life is change. Moving into a new house, buying a bigger car to fit your expanding family, starting a new job…the possibilities are endless. Change is good and sometimes necessary, but how you manage that change is crucial; re-examing your insurance needs and policies at the start of each year could guarantee that the changes in your life lead to a healthy new year.
Likely amongst one of the largest assets you own, it’s important that any changes in your home insurance reflect changes made to your home (renovations, etc.). For example, the age of the coating of your roof plays a role in the cost of your home insurance premium. If you replaced your roof coating in the last year, it is important to re-examine your insurance policy. The start of the New Year is the perfect time to contact your home insurance advisor to ensure that your policy reflects the current condition and needs of your household.
Have you made any recent changes to your driving habits and/or locations recently? If so, it is important to contact your automobile insurance agent – auto insurance rates are related to driving frequency, kilometers traveled and vehicle model. Any changes will likely affect your insurance premium.
Life and Health Insurance
The New Year is the perfect time to seek out ways to reduce your life insurance costs. If one of your 2018 resolutions was to get healthier (whether through exercise, changes in your nutrition, change in medications, quitting smoking, etc.), it’s possible that your life insurance premium could be reduced in 2019. If you’re looking to cut down on your life insurance costs in 2019, the next step would be to revise your current needs with a life insurance advisor. For example, in the case of healthy people who rarely need to visit the doctor, it may make sense to seek lower premiums through a higher insurance deductible.