Life doesn’t stop after you get insurance coverage. Whether you’ve added an extra bathroom to your home, inherited valuable antiques, or sent your teenager off to college, it’s important to keep your insurance coverage aligned with your life changes. Staying informed can help ensure you’re adequately protected and might even save you money.
Here are 16 key situations when you should reach out to your insurance agent:
- Getting Married or Divorced
Marriage might qualify you for discounts like multi-car or bundled policies. Make sure to insure wedding and engagement rings if their value exceeds standard policy limits. After a divorce, update your policies, adjust coverage, and review life insurance beneficiaries. - Moving to a New Home
Buying, renting, or relocating requires updated coverage. Homeowners need enough insurance to rebuild based on market value, while renters need protection for personal belongings and liability. - Buying a Car
Inform your agent about your new vehicle’s make, model, and VIN. Your insurance rate may vary depending on the type of car and where you live. - Starting a Business
Even a home-based business requires proper coverage. A Business Owners Policy (BOP) might be the best option if you use your home or car for business. - Renovating Your Home
Major renovations, like adding rooms or remodeling, can increase your home’s value. Update your policy limits to avoid being underinsured. - Adding a Teen Driver
When your teen gets a permit or license, inform your agent. Teens can increase premiums, but discounts may apply for driver’s education or good grades. - Acquiring High-Value Items
Inherit or purchase something valuable? Adjust your personal property coverage or consider an umbrella policy for broader protection. - Sending a Child to College
Review policies if your college student moves into campus or off-campus housing to ensure their belongings and vehicles are covered. - Joining a Carpool
Driving others increases liability risks. Update your auto insurance to reflect the change. - Installing Security or Smart Home Systems
These systems can lower your insurance costs. Notify your agent even if you’re planning installations. - Changing Lenders
Switching mortgage or auto lenders requires updating your policy to prevent claim delays or payment errors. - Driving Less
Working from home or commuting less? Reduced mileage can lead to lower auto insurance rates. - Buying a Second Home
A vacation home needs coverage, especially if it’s vacant for long periods. Renting it out? Consider landlord insurance. - Traveling Internationally
Planning to drive abroad? U.S. coverage often doesn’t apply. Specifically, Mexico requires Mexican auto insurance. - Experiencing Identity Theft
After identity theft, investing in identity theft or cyber liability coverage can provide added protection. - Retiring
Retirement might reduce your mileage and qualify you for homeowners insurance discounts. As a result, it’s important to update your policies accordingly.
Keep Your Coverage Current
Whenever your circumstances change, it’s a good idea to contact your insurance agent. They’ll help ensure you’re neither underinsured nor overinsured, protecting what matters most while keeping costs manageable.
Contact V.F. McNeil Insurance today with any questions at (203) 481-2684. As a Trusted Choice® indpendent insurance agency, we are always ready and happy to help!
