Why the Holiday Season Is the Perfect Time to Check Your Coverage.

When was the last time you checked your coverage? Typically, we only usually make insurance decisions following a key milestone in life, such as moving home, marriage, purchasing a new vehicle, or having a child.

These events are often the trigger to re-evaluate our insurance needs, with policyholders requiring new levels of coverage or endorsements. Equally, changes in our circumstances might also make it more relevant to utilize an umbrella policy.

Is it the best time?

However, while these milestone events can often be the reminder that many people need to start examining their insurance coverage, is it the best time? Typically, these events do not occur very frequently, and many years can pass between them, seeing some complacency in your coverage requirements.

A more effective method of ensuring you always have the right coverage is to introduce a more dynamic review throughout the year. Holidays such as Christmas or celebrations such as anniversaries and birthdays often see us acquiring more personal gifts such as jewelry and other high-value items. These events are a time for merriment, but they are also a great time to check your coverage and ensure all of your new belongings are covered.

Another useful time to check your coverage is ahead of a big vacation. While short weekend trips away are not going to change things too much, those dream trips to foreign locations might require more coverage. For example, will you require separate coverage for protection in other countries? Or will you need special liability or protection to cover events on your vacation? Or perhaps if you are going away for an extended period, will absence from your property cause issues?

Whatever it might be, ensuring you are always aware of the coverage you have and the areas it might need improvement is essential. Using the holidays or special events as your touchpoint to speak with an insurance professional and to check your coverage levels will help you to always be protected.