It is important you actively shop your auto and home policy every few years. There are many reasons to do so: price shopping, updating coverage, and updating policies to reflect any changes since inception.
Often we see that people settling with their policy and never looking back. Coverage becomes out of date; prices increase significantly, and people’s lives change dramatically. Coverage written ten or more years ago may not be adequate to cover specific situations in 2020.
Just recently, I met with an individual who thought he had liability coverage on a vehicle, however, after reviewing his policies, we found out that he was only covered for comprehensive damage to the vehicle. He was still regularly driving the vehicle without realizing that he did not have liability coverage. Fortunately, he was not involved in any accidents, but this could have been an absolute disaster for him and his family as his vehicle was not sufficiently covered.
In another recent case, a prospective client informed me that she had rescued a Pit Bull. Since the policy was written before she got the dog and her current carrier and broker never reviewed her policies, she had no idea she would potentially not be covered for any issues with the dog. There also could have been potential that the company would have non-renewed or possibly denied a claim if they became aware of this type of dog.
By merely spending 10-15 minutes a year reviewing your renewals with a licensed professional, the situations above can be avoided. We at The Financial Guys take great pride in keeping in contact with our clients and making sure they are always adequately protected. Give us 14 minutes of your time, and we will shop over 25 companies for you.
Home and auto insurance shopping doesn’t need to be complicated. We make it our mission to make sure you are well protected while saving money. Find out how we can save you money and get the coverage you need by calling 716-633-1515, and a member of our home and auto insurance team will discuss your insurance needs.