Gisela Castro

CEO , Complete Insurance Agency

Why You Need a Yearly Personal Insurance Review

As an insurance agent in Miami, it’s astonishing how many people fail to have a yearly personal insurance review. If you don’t know what a review entails, we will cover this information in great detail and explain whyyou should work with an insurance professional this coming year.

What is a Yearly Personal Insurance Review?

Insurance needs can change periodically, so it’s crucial that you take time to review all of your policies. The idea is simple: review your policies and make adjustments as necessary.

An insurance agent can help you fill gaps in your coverage and may be able to find you cheaper options, too.

In the worst-case scenario, you spend a little time with an insurance agent and leave with peace of mind that you have the best insurance possible. For many people, their annual insurance review will lead to confidence that they’re doing all they can to protect their families if they die unexpectedly.

Benefits of a Yearly Personal Insurance Review

If you’re debating on a life insurance review, consider the following benefits:

  1. Beneficiary review. Significant life events have a way of sneaking up on us unexpectedly. If you don’t review your beneficiaries, they may be outdated. Unfortunately, if you pass during this time, the beneficiary listed will be the recipient of your benefits regardless of divorce, marriage or the birth of a child.
  2. Financial security. Is the insurance you have now sufficient for the future? When a new child is born, a personal review will often indicate that it’s time to increase insurance to account for these higher financial needs.
  3. Save money. Depending on your insurance, an annual review may save you money. You may also be alerted to new insurance opportunities where you can bundle insurance and save more money.

Your insurance agent will do a lot of things, including but not limited to making sure that you have your most recent insurance documents, assess your policies and even review your deductibles (depending on the insurance).

If your financial situation has changed for the worse, the agent may find ways to lower your premiums and even find discounts to help you save more money.

In many cases, policyholders will keep their policies the same without ever reviewing the policy or seeing whether there are better options available. However, an agent with a pulse on the industry can quickly review your policies and the potential opportunities available to maximize coverage or save money.

Life changes rapidly, and if you’re not staying on top of your insurance policies and life changes, there’s a chance that your insurance documents are inaccurate. Something as life-changing as marriage, the birth of a child, death of a spouse or new debts are enough to schedule an annual insurance review.

If you’re in Florida and would like to review all your insurance policies, we can help. As a leading insurance agent in Miami, we’re able to review documents, recommend new insurance and ensure that you have adequate insurance for yourself and your family.