Like many people, you probably only think of reviewing your insurance policy when your renewal notice shows up or if you have to make a claim. However, there are numerous common changes that will require you to give your insurance professional or insurance company a call.
Moving into a New Home
You need to give your insurance company a call to update your policy if you move to a new home. Depending on the state you live, premiums can vary since the threat of natural disasters can vary.
Renovating or Remodeling your Home
Are you renovating or remodeling your home? The insurance company needs to be made aware of this. Whether you are installing a new security system, adding a pool or increasing your home’s square footage, you need to notify your insurance professionals.
Buying a New Car
Before buying that new car, give your insurer a call to find out what kind of impact it will have on your insurance expenses. Contact your insurance company before you talk to the car dealer to see how your rates are going to change after you buy that new car. If you are replacing your car, you will be covered for medical payments, liability and underinsured/uninsured motorists automatically. If you are adding on to an existing car, you will get the same coverage for your new car as you have for the car that is already on your policy. You still, however, have to notify your insurance company within 14 days.
Adding a Teen Driver
Once your teen receives their temporary permit, contact your insurer and let them know. You might qualify for a good grades discount for teens. Your insurer will give you the details on how to bundle or save costs on your policy.
Driving a Company Car
Do you get paid to drive your car? If you are receiving compensation for driving your car, your insurance company needs to know so you maintain coverage.
There are various things insurance will need to cover once you tie that knot. These things can range from ensuring your home is properly covered to consolidating auto insurance.
Having a Child
Once you find out that you are having a baby, you will have several months where you will begin collecting things that you will need for the baby. Call your insurance provider to ensure that you are set up for and have enough of contents coverage to protect you in the event of a fire, theft or other misfortune.
Getting a Pet
Your insurance company will need to know about any pets you have, particularly if it’s a dog. There are specific breeds that require insurance and will increase your cost for coverage such as Dobermans, Pit Bulls and Chows. If you fail to tell your insurer that you have a dog, if a guest gets bitten, you won’t have liability coverage.
If you have doubts or concerns about what life change can affect your policy, give us a call here at BOLT Insurance Agency. Don’t wait until you get that renewal notice or have to make a claim. It’s always better to be safe than sorry.