Building a Protection Plan to Fit Your Insurance Needs

The holidays are approaching, and there's no better time to gather, reflect and prepare for the new year ahead. Much like your holiday table, no two insurance needs are exactly the same. Everyone's lives are unique, shaped by lifestyle, family, career stage and future goals. Reviewing and customizing your insurance policy is essential, and with the right partner, your coverage should be crafted to fit your needs and your appetite, just like your plate during a holiday meal!

Starters: The Importance of Custom Coverage

What does this really look like in practice? Insurance should reflect each individual’s circumstances rather than relying on a one-size-fits-all model. For instance, a new homeowner may face different risks than someone entering retirement. Families with teenage drivers often need added protections that may not apply to a city dweller without a car. Your insurance agent should ask a variety of questions to help uncover risks to help shape a protection plan to cover you from potential financial burdens. Personalized coverage helps ensure no matter your stage of life, your policies keep pace with your needs.

Plating the Perfect Policy

Thoughtful insurance coverage often requires more than just one core policy. Home and auto insurance often provide the foundation, while renters' insurance may be more appropriate for those not ready to buy just yet. Umbrella insurance, also known as liability coverage, can provide an extra layer of liability protection for those who may face additional exposure. For those with loved ones relying on them, life insurance can help secure your family’s future in case of the unexpected. If your home has furry friends, pet insurance can be a great way to protect yourself from unexpected and costly vet bills. The goal is to balance coverage that provides security without unnecessary overlap.

Questions to Cover During Your Insurance Review

Homeowners

• Have you refinanced your home or paid off a mortgage?
• Have you renovated your home or replaced your roof?
• Do you host a short term or vacation rental property?
• Have you purchased a second home, land, or other property?
• Have you added any detached structures or garages not currently insured on your policy?

Drivers

• Have you purchased, paid off, or refinanced a vehicle?
• Do you use your vehicle for ridesharing services or delivery?
• Are there any changes to licensed drivers residing in the household?
• Do you have any vehicles furnished for your regular use that you do not own, such as a company car?
• Have you added any new residents to your home that are licensed drivers (including children away at school) who are not listed on your policy?

Extra Protection

• Do you employ domestic help: Housekeeper, Caregiver, Babysitter, or Gardener?
• Do you serve as a Director or officer for a non-profit organization or HOA?
• Do you travel often, requiring coverage for incidents at home or abroad?
• Are you at risk of reputational damage such as libel, slander, or a lawsuit?

New Assets or Collections

• Collected valuables: Antiques, Furs, Wine, Golf Equipment, Firearms, Fine Arts, Jewelry
• Purchased a new: Jet Ski, E-bike, Boat, RV, Motorcycle, Golf Cart

Reviewing these questions can help eliminate redundancies while addressing potential exposures, giving you the confidence your coverage works as a solid, comprehensive protection plan.

Let's Dig In: Talk to an Agent to Review Your Insurance Needs

It’s important to check in with your insurance agent regularly. Just as your lifestyle changes, so do your coverage needs. Reviewing before the new year can help you take advantage of saving opportunities and prepare for any upcoming policy updates. Find an agent near you and schedule your personalized coverage review today. Discover how the right mix of protection can provide coverage that fits your life and allows for peace of mind.