How Often Should I Review My Insurance Policy?
Ensuring Your Insurance Coverage is Sufficient
In most cases, your home, medical, and auto insurance will renew every 12 months. While this is typically the time when policyholders will reevaluate what’s included and make adjustments where needed, is it sufficient for ensuring you are as protected as possible? Read on to learn why you may want to review what is covered more often.
When Should I Review My Insurance Policy?
To get the most comprehensive coverage, experts recommend that you review your insurance policy at least once per year. This will allow you to keep up with any changes in your life that could affect your coverage needs. However, you may want to consider reviewing it more frequently depending on where you live (such as if your area is a high risk for tornadoes, hurricanes, etc.), ongoing health concerns, your children becoming older, etc.
If you live in a state that is prone to severe weather like Oklahoma, don’t forget to have a solid understanding of what your policy includes during the time of year when those storms are more likely.
What Should I Be Looking for When Reviewing My Policy?
When it comes time to review your insurance policy, there are a few key things you’ll want to keep an eye out for:
- Are there any changes in my life that could affect my coverage needs?
- Have my rates gone up or down?
- Are there any new discounts I could be eligible for?
- Do I still have the same deductibles?
If you find that your rates have increased, it may be worth shopping around for a new policy. However, if you’ve been with the same company for a few years, they may be willing to work with you to lower your rates.
Tulsa Insurance Claim Lawyers
Policyholders rightfully have an expectation that their insurer will honor the claims being made. However, these companies routinely act in bad faith and deny or devalue valid claims. The team at Aizenman Law Group is committed to helping policyholders settle their disputes and obtain the compensation they are entitled to.
Schedule a free consultation with a member of our team today to discuss your legal options by calling (918) 215-8856.