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Should I Review My Insurance Annually?

The start of a new year is always a perfect opportunity for personal and professional introspection. This gives people the chance to establish goals, reviews successes and failures, and implement changes for future improvement. It is also the ideal time to review financial decisions and protections for the future, including insurance coverage. In today's blog post, we'll discuss several reasons why it's financially beneficial and prudent to review insurance coverage annually, both personal coverage and commercial coverage for business owners.

"Subject To Change At Any Time"

Changes can occur in insurance coverage at any time, and for a variety of reasons, including new state or federal laws, a wave of claims from recent catastrophes, or industry-wide changes. Most personal or commercial insurance policyholders may be completely unaware of recent insurance policy changes or how they may be impacted. Policy changes or new laws can impact coverage amounts, exclusions, or future claims. By reviewing insurance policy coverage annually, policyholders can stay abreast of changes that can positively or negatively impact them in the event of a disaster.

Could Be Eligible For Discounts

With annual insurance reviews, policyholders may discover they are eligible for new discounts or lower premiums based on age, the purchase of a hybrid vehicle, a change in employment, a recent move, added home alarm systems, or other personal changes in the previous year. Commercial policyholders may also find themselves eligible for lower premiums due to added security systems, replacing aging commercial fleet vehicles, or multi-line discounts for new locations.

Insurance Needs May Be Different

It is important for policyholders to evaluate whether current insurance coverage still meets personal or commercial needs. An annual review may reveal life changes or new assets not adequately covered by current policy amounts. Too often policyholders make the mistake of purchasing insurance coverage without ever reviewing it or updating coverage to reflect life changes such marriage, the birth of children, divorce, loss of loved ones, new assets, or other major changes.

Aegis is a Houston-based insurance agency specializing in providing individuals, families, and businesses with strategic insurance coverage that meets their unique needs with reliable and affordable coverage. The friendly and knowledgeable agents of Aegis can review your current insurance coverage to determine if there are any changes or new discounts available to maximize your insurance protection. Aegis proudly offers a full range of insurance policies, including Homeowners Coverage, Renters Insurance, Auto Insurance, Commercial Insurance, and Life Insurance. Call Aegis at 713-850-7622 for more information, or go online to request a free quote today.

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