When to update your insurance policy in Arizona.
Many people don’t know that you should review your insurance policies when life changes. Others hate dealing with anything related to insurance. Any life event should trigger a call to your insurance company for a review.
Here are a few reasons to call your insurance company to review your policy:
Marriage is a great reason to contact your insurance company. By adding a spouse you will be listed as married, which can save you money. Also, if you are adding another vehicle you can save money with the multi-vehicle discount. Nonetheless, you are most likely merging accounts together. So why not review everything, especially if it can save you money. Now that assets are combined, your finances change which means you can lose that and wages. It’s also a good time to review your liability limits. Not having enough liability can affect you financially if you get into an accident. You work hard to make money and build a future for yourself and loved ones. Why not protect that?
Another reason to contact your insurance is when you have a baby. You need to make sure your child is provided for now and in the future. That is why it’s so important to review your life insurance after having a baby and make sure your loved ones are taken care of in the incident you are no longer around!
New drivers are a perfect reason to contact your insurance. I am pretty sure parent’s dread adding their teen drivers to their auto policy for two reasons. First, being scared to have them on the road with careless drivers and the other is the financial impact it could have on your wallet. Even though adding a new driver to your insurance policy will increase the premium, it’s a good time to discuss with your insurance agent your coverage and have them educate you on the importance of higher liability limits. That new driver is more at risk of causing or getting into an accident. You will want to protect yourself and increase your limits and even look into umbrella insurance. This gives you added liability protection and doesn’t cost as much as an accident can.
My favorite thing about my job is educating my clients. I enjoy reviewing changes in their lives and educating them on the importance of insurance. I give my clients options when reviewing insurance and then let them make the decision. The motto I always live by is “Do the right thing because it’s the right thing to do”.
This post is written by Amber Bator, your Home, Auto, Commercial and Medicare Specialist at Wishwell Insurance Brokers in Peoria, Arizona.