The Annual Insurance Checkup: Why Reviewing Your Policies Each Year Matters

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Life changes quickly—your insurance should keep up.

Just like a yearly physical helps catch health issues before they become problems, an annual insurance checkup helps ensure you’re properly protected as your needs evolve. Unfortunately, many people “set and forget” their insurance policies, only to find themselves underinsured (or overpaying) when it matters most.

Here’s why reviewing your home, auto, and business insurance once a year is one of the smartest financial moves you can make—and what to look for during your checkup.

Why an Annual Insurance Review Is Important

Your insurance coverage should reflect your current life circumstances. A lot can change in a year—new vehicles, a growing family, home renovations, starting a business, or even improved credit. Each of these can impact your coverage needs and premiums.

Failing to update your policies may lead to:

  • Gaps in coverage that leave you exposed
  • Overpaying for outdated or unnecessary policies
  • Missed opportunities for discounts and savings

What to Review During Your Insurance Checkup

Here’s a checklist to guide your annual review:

Home Insurance

  • Have you renovated or added value to your home?
  • Have you purchased expensive electronics, furniture, or appliances?
  • Have local building costs changed, affecting replacement value?

Tip: Make sure your policy covers the current cost to rebuild your home—not just its market value.

Auto Insurance

  • Have you bought, sold, or paid off a vehicle?
  • Are your driving habits different from last year (working from home, for example)?
  • Have your driving records or credit scores improved?

Tip: Ask about safe driver discounts, bundling options, or usage-based programs.

Business Insurance

  • Has your business grown, expanded services, or hired employees?
  • Are you using new equipment or storing more inventory?
  • Have you started operating from a different location, including your home?

Tip: Your business evolves—your coverage should evolve with it. A simple home endorsement might no longer be enough.

When Else Should You Review Your Coverage?

Besides your annual checkup, make it a habit to review your policies anytime you:

  • Move to a new home or office
  • Buy or lease a car
  • Experience a major life event (marriage, divorce, retirement)
  • Welcome a new child or dependent
  • Take on new business risks or services

Let Us Help You Stay Covered

An annual insurance checkup doesn’t have to be a hassle. Our team is here to walk you through your policies, answer your questions, and proactively identify ways to improve your protection and possibly lower your premiums. Contact us today to schedule your annual policy checkup—it’s free, simple, and one of the best ways to protect what matters most!

Why Reviewing Your Policies Each Year Matters

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When was the last time you reviewed your insurance policies? If it’s been over a year, you might be overdue for an insurance checkup—and no, it’s not just a formality. Just like you visit the doctor for a yearly physical, giving your insurance a regular review helps ensure everything is still in good shape and aligned with your current needs.

Why Annual Insurance Reviews Matter

Life moves fast. In just a year, you might experience significant changes—some exciting, some unexpected—all of which can affect your insurance needs. An annual insurance review gives you the opportunity to make sure your coverage still fits your lifestyle and protects what matters most.

Life Changes That Could Impact Your Coverage

Here are just a few common life events that should prompt a policy review:

  • New Home or Moving: Whether you’re buying your first home, relocating to a different state, or downsizing, your homeowner’s or renter’s policy needs to reflect your new living situation.
  • New Job or Business Venture: If you’ve started a business, it may be time to explore liability or business insurance options.
  • Growing Family: Having a child is a major life event that often requires more life insurance, such as adjustments to your auto policies.
  • Major Purchases or Upgrades: If you’ve bought a new car, renovated your kitchen, or added a pool to your yard, your policies should reflect those changes to ensure you’re adequately covered.

What to Review During Your Insurance Checkup

Your insurance review doesn’t have to be overwhelming. Here are a few things to look at:

  • Coverage Amounts: Are you under- or over-insured based on your current lifestyle and assets?
  • Policy Limits and Deductibles: Would you be comfortable with the out-of-pocket costs if you needed to file a claim?
  • Discount Opportunities: Life changes can also mean you’re eligible for new discounts or bundling options.
  • Gaps in Coverage: As your life evolves, you may need additional types of insurance like umbrella coverage.

Make It a Habit

Put a reminder on your calendar every year—perhaps around your policy renewal dates or at tax time—to sit down and reassess. Better yet, schedule a meeting with your Edwards Insurance agent. We can help you spot gaps, explain policy changes, and ensure you’re getting the best value!

An annual insurance review is more than a box to check—it’s a smart, proactive way to protect your family, your assets, and your peace of mind. Life doesn’t stand still, and your insurance shouldn’t either.

Need help reviewing your policies? Reach out—we’re here to help you navigate your coverage with confidence.

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