10 questions to ask yourself when renewing
an automobile or home insurance policy
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Did you do a major renovation of your kitchen last year? Have you recently transformed your basement into a home theatre or had a new hot tub installed in the backyard? Does your new job require you to use your car on a daily basis? Has anyone new moved into your home? A consumer’s residential and transportation needs may change frequently and these needs will certainly evolve over the years.
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Buying a home or a car are both significant life investments for which proper insurance coverage is indispensable in the event of a loss or an accident. Unfortunately, there are still very few insureds who think to check whether their insurance policies have kept up with their current needs. Even changes made many months ago that have almost been forgotten can have a significant impact on our insurance coverage requirements.
Take the Time to Properly Renew Your Insurance Policies
Although the damage insurance representative has a professional obligation to provide advice, it is the consumer who is in the best position to clearly identify the changes that he has made to his immediate environment during the course of the year and to provide an accurate assessment of his situation at renewal time. This information is essential to the insurance professional; without it, the professional will not be able to provide useful advice and offer the insured an insurance policy that best suits his needs.
We invite you to use these user-friendly checklists below to help you verify your needs and ensure that when insurance policy renewal time arrives, your homes and cars will continue to enjoy sufficient insurance coverage.
Contact your damage insurance professional before renewing your damage insurance policies : Your damage insurance representative (agent or broker) is there to advise you!
The Data Speak Volumes
It is absolutely normal to improve your home, buy a new car or make lifestyle changes. And it should be just as normal to review these changes to ensure that you have sufficient property insurance coverage.
According to a CROP-Express omnibus survey, only 54% of respondents mention taking the time to verify whether their insurance policy still meets their needs.
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