Annual Insurance Reviews

Even financially savvy people may overlook adjusting their insurance coverage while undergoing life and asset changes and this can leave you exposed. In fact, less than 50 percent of people surveyed say that they receive an annual review of their personal property and casualty insurance programs. Review with your insurance agent annually to adjust coverage for changing needs, risk profiles and potential coverage gaps.

Review this checklist before your discussion with your insurance agent.

Personal & Family Changes

  1. Were there any high-value items acquired since the last assessment?
  2. Have any high-value items already covered by the policy been reassessed for appreciation?
  3. Any family changes—marriage, parenthood, death in the family, or career shift?
  4. Have any of your children reached driving age or moved out to attend college?
  5. Has there been or will there be a change in the amount of travel in the near future?

Other Changes to Consider

  1. Have you bought or sold a home or auto since the last assessment?
  2. Has your home undergone improvements or renovations?
  3. Have you added a home office since the last review?
  4. Has there been changes to the fire alarm system, water or intruder detection?
  5. Were there changes to household staff or independent maintenance providers employed?
  6. Were there any new recreational vehicles purchased or playground equipment installed?

Developing a relationship with a trusted independent agent like those at The Milburn Agency can help customers understand each situation is unique. Experience and a local connection help us provide valuable advice and options customers appreciate. Contact us for quick questions or a personalized assessment.