As leading commercial and residential public adjusters in Georgia, the team at Strategic adjusters knows a thing or two about insurance. And one of the most common mistakes we see our clients make is simple and easy to avoid – failing to review insurance policies regularly.
So, when is the best time to review your insurance policies? Find out below, and get all the details from the leading public claims adjuster in Georgia.
You Should Review All Of Your Insurance Policies Once Per Year
This includes all of your insurance policies – including life insurance, health insurance (if applicable), home insurance, auto insurance, disability insurance, and more. Pick a time that’s convenient for you – around tax season, for example.
During this time, you should take a detailed look at each insurance policy and what it covers – and bring up and questions, comments, or concerns that you have with your insurance company.
Why Bother Reviewing Insurance Policies?
If nothing has changed, you don’t need to review your insurance, correct? Not quite. There are many good reasons to examine and check your policies every year.
- Some coverage may have changed – It’s not uncommon for insurers to change things about plans when they are renewed. Your home insurance deductible may go up, for example – and while you’re usually notified about these changes, they’re easy to miss.
- You might find mistakes – Insurance companies are not perfect. If you look through your insurance policies, you may see errors – such as level of coverage lower than what you’re paying for – which could save you quite a bit of money in the long run.
- You could look for a better rate or coverage – Knowing what’s included in your insurance policy makes it easier for you to look for another insurer who can offer you a lower price or better overall coverage.
- You might need more coverage – Let’s say you’ve just built a new first-floor addition to your home, which has added $50,000 to the Fair Market Value (FMV) of your home. If you keep the same insurance policy, you had previously, the value of the addition won’t add to the FMV of your home.
- Your claim may be denied entirely if something happens to your addition before you tell your insurer about it and update your policy. You will need more coverage to protect your home adequately.
For all of these reasons – and more – it’s a good idea to review your insurance policies once yearly.
Need Help With A Catastrophic Insurance Claim? We’re Here To Help!
If you’re struggling to get your insurance company to compensate you after filing a non-auto related property claim, our team of residential and commercial public adjusters in Georgia is here to help. As public adjusters, the team at Strategic adjusters works directly for policyholders like you – to help you get the compensation you deserve after a natural disaster or other property-damaging incidents. Contact us now to get started.