When was the last time that you sat down with your insurance agent to review your coverage? While many people avoid insurance like the plague, an insurance review is very important to make sure your risk is properly covered. Buy-it-and-forget-it is not a good theory when it comes to insurance. Over the course of the year individuals and businesses have made changes, purchases, upgraded, sold and an insurance review will be sure all of this is taken into consideration.
The Insurance Review
An insurance review is fairly quick and easy to conduct. While most reviews are done in person, some are done over the phone for convenience. Current policy information is presented and this provides the opportunity for any potential gaps in coverage to be addressed. An insurance review also allows you the opportunity to take with your agent, ask questions and gain a better understanding of your risk and coverage. This time spent with your agent is invaluable when it comes to having properly structured insurance. Without proper coverage in place, a loss could result in financial ruin for individuals and businesses.
Specific Items to Review
If you are an individual reviewing your personal insurance or a business reviewing your business insurance, here are some specific items that should be touched on during an insurance review:
- Limits on Property and Contents
- Deductibles (You can save premium by increasing your deductible so be sure to ask!)
- Limits of Liability
- Discounts (take advantage of all discount you qualify for)
- Review drivers and all members of the household or employees of a business
- Any changes that may have occurred since the last review was conducted
So, if you have not had a review of your insurance recently, call or email your agent today and schedule one. It could possible save you thousands of dollars, not necessary in premium, but in the case of a loss by having the right insurance in place to cover the damage. Knapp Tedesco Insurance offers insurance reviews to all of their clients on a regular basis. It offers peace of mind for us as agents as well as the insured in knowing that a policy is structured properly and the insured understands the coverage. If your current agent is not currently offering insurance reviews, feel free to contact us at Knapp Tedesco Insurance. It would be our pleasure to review your insurance coverage.