5 Moments When You Should Check Your Insurance

5 Moments When You Should Check Your Insurance

Thanks to the life insurance Maria Loera’s husband Roberto bought she was able to pay for funeral costs, medical bills and day-to-day expenses after his passing. It even helped her set up college savings accounts for their children. "Roberto’s life insurance was such a blessing," said Maria. "It’s something every family should have."

Insurance protects you, your family, and your home from the unexpected, but it can only do its job if the coverage is up to date. Review your insurance annually or during key life changes such as these:

  1. Your family status changes
    Your family status changes. If you're marrying, expecting a baby, or adopting a child, you'll want to protect your growing family with adequate life insurance and disability income insurance. Losing a family member through death or divorce should also prompt a policy review. Remember to change the beneficiary designations on your existing policies as needed.

  2. Your children grow up
    When you have a new teen driver, adequate auto insurance is a must. Your State Farm® agent can tell you about that may be available. If your student is leaving for college or has recently graduated, it's a good time to consider personal property, liability, and renters insurance for the new living arrangements.

  3. You're moving or remodeling 
    Whenever your address changes, review your homeowners insurance to make sure the new property is adequately protected. It's also a good time to update your home inventory - whether you're adding items such as new furniture or scaling back for a move to a smaller home. Also, be sure to update your coverage if you renovate your current home.

  4. You're starting a business
    Whether you're going to rent office space or open a home-based business, include a thorough insurance review in your start-up plans. Depending on the size of your operation, you may have to consider property and liability, commercial vehicle, and workers' compensation coverage, as well as a health care plan for employees. If you're a sole proprietor working from home, be sure to review your homeowners plan to see that your business and equipment are fully covered. 

  5. You need health insurance options
    In today's rapidly changing health care environment, protecting your family's health can be a challenge. If your current plan is up for renewal or if you've been downsized and need brand-new coverage, take the time to compare plan features against your family's current or anticipated needs.

disclosure

Because insurance protection is a contract, any coverage descriptions in this article are general only and are not statements of contract. All coverages are subject to all policy provisions, including applicable endorsements.