A lot can change in a year: a new job—or the loss of one; a new baby—or your last child leaving the house; your first home—or a bigger one; a spouse who is no longer working—or who now has a job. All of which can impact your insurance.
That’s why reviewing and updating your current policy is so important. But how often should you do insurance reviews? A good rule of thumb is to have your AAA insurance agent review your policies every 12-18 months, and even sooner if a life-changing event has occurred. Your AAA insurance agent will sit down with you, at no cost, and help you reassess your coverage amounts.
When to Review Insurance Policies
Home upgrades: Remodeling can add substantial value to your house. Before the work begins, check to see if you’ll need increased homeowners insurance coverage.
Liability: Check the liability coverage on your homeowners or renters policy to be sure it’s enough, especially if you’ve added features like a swimming pool, hot tub or trampoline.
New valuables: If you’ve purchased expensive items like jewelry or art, check your policy to make sure these are covered. Jewelry insurance is the way to go for that extra peace of mind.
Coverage from multiple companies: If your auto, life and homeowners insurance policies all come from different companies, it may be smart to consider consolidating them and taking advantage of a multi-policy discount.
College students: Inform your agent if your child will be going to college in a car covered by your policy. You should also check to see if they’ll need a separate renters’ policy.
Getting a new pet: Don’t forget about Fido and Fluffy! Reviewing your pet insurance policy is equally as important to make sure you have appropriate coverage for your pet’s medical needs.
An annual insurance policy review will guarantee you have the proper coverage and the best rates. To schedule an insurance policy review with a AAA insurance agent, please fill out this request form, call (888) 222-6446 or stop in your local AAA store.
Originally published Feb. 2020. Updated April 2023.