times you should contact your insurance agent

8 Times You Should Contact Your Insurance Agent

You have insurance, so you’re covered, right? Wrong. Life changes happen, and so does your need for insurance coverage. Purchasing insurance is a major step in protecting yourself, but maintaining and updating your coverage is just as important. 

Here are 8 life events that warrant a second look at your coverage:

1. Buying  a new home or remodeling

When buying a new home or remodeling your existing home, there is a lot of planning required. One thing you want to have on your list is contacting your insurance agent. Whether purchasing a new homeowners policy or renters policy, you want to ensure you are carrying the proper coverage for the value of your home and its contents. One thing not often thought of is remodeling. Depending upon the scope of your project, you may want to beef up your coverage. Adding an addition? Then you will definitely want to consult your agent.

 2. Buying a new car

Buying a new (or new-to-you used) car is an exciting event! A licensed agent can assist you in completing a thorough review of your auto insurance options, compare coverages, and see if you are eligible for any discounts. These discounts may include package deals when bundled with homeowners insurance. 

3. Baby on the way?

If there is one life event that carries a huge impact, it's adding a new baby to the family. Policies such as life insurance will need to be adjusted or purchased for the first time with the additional responsibilities of a child.  

4. Marriage 

Getting married offers a whole new world of experiences for you and your spouse. It also offers a diverse amount of potential savings when it comes to insurance. Many carriers offer discounts such as multi-car discounts, marriage discounts, and combined insurance policies. 

5. Divorce

Divorce is not one of those life events that is enjoyable, but it is just as important as others. Much like the advantages of combining policies when getting married, you will want to make sure policies are separated and updated accordingly when facing divorce. Your personal coverages will change, and possible name changes will need to be addressed on policies as well. 

6. Job Change

Get a nice promotion? Switch to a higher paying job? Both mean a potentially significant increase in income. Now is the perfect time to meet with your agent and discuss bumping up your life insurance coverage.

7. Security System

Have you recently invested in a home security system? This investment may very well qualify you for a discount on your homeowners insurance. Even if you’re not sure, contacting your agent is a wise decision to see if you qualify.

8. Starting a business

Talk about a life changing event; try becoming a business owner! Building your own business can be exciting, challenging, and risky all at the same time. You will want the help of an insurance agent to make sure you have your personal finances protected. This applies to whether you are working on your own or have a business of 10, 20, or more employees. 

These eight times are just a sampling of the times you should contact your local Hanover, PA insurance agent. Even if you do not experience any of these changes, it is always a good idea to have your policies reviewed yearly. Purchasing a policy is easy and gives you a level of comfort when it comes to the future. However, don’t become too comfortable and get caught not having the proper level of coverage as life changes occur.