Review & renew your policies in 2016!
As the new year begins, it’s the perfect time to review and renew your insurance policies! Each year you have the option to continue your current insurance plans. Make sure your coverage fits your needs! Here’s what you need to know about renewing your insurance policies!
When is it time to renew?
It depends on what type of insurance it is. Sometimes renewal occurs annually, other times it’s semi-annually. In either case it’s dependent on when your policy first took effect. Check with your insurance provider to find out exactly when you need to renew. But ordinarily you’ll receive notification when it’s time to renew your policy.
What do I need to do to renew my policy?
In order to renew your policy, you need to send in a payment. But before you do review your policy to make sure everything is in order. Check to make sure your name and contact information is correct and review the policy coverage to make sure nothing has changed.
Why are there changes to my premium?
Sometimes pricing can change. Insurance premiums are dictated by the state so sometimes premiums are raised statewide. Other times, premiums may increase based on the events of the previous year. For example, with auto insurance any accidents or speeding tickets may increase your rates.
Can I change my policy?
When you renew your policy, be sure to review it. If you’ve had any lifestyle changes in the past year notify your insurance agent. Your coverage may need to change to accommodate your current lifestyle. For example, you may have had a baby in the last year and may need to add him or her to your health insurance policy. Or you may have made renovations to your home and may need to up your homeowners insurance coverage to make sure your new kitchen is covered too! Just be aware that some changes have restrictions.