Why your annual insurance checkup could save you hundreds
Financial experts are advising households to check their insurance policies at least once a year. A thorough review can prevent overpaying while ensuring adequate protection for homes, cars, and valuable belongings.
Homeowners should pay close attention to their coverage when property values rise. Without proper adjustments, they risk being underinsured and unable to fully rebuild after damage. Keeping a detailed record of assets—such as photographs and receipts—can also simplify claims if losses occur.
Car insurance is another area where regular checks can lead to savings. Policyholders may find better rates by comparing providers or bundling multiple policies together. For high-value items like jewellery or artwork, experts suggest separate insurance policies. These offer tailored protection beyond standard home insurance. However, choosing the right coverage takes time and research. Meeting with an agent or comparing options online can help secure the best rates and suitable protection.
An annual insurance review helps maintain the right level of coverage without unnecessary costs. By documenting assets and exploring different policies, households can avoid gaps in protection. The effort ensures they receive full compensation if they need to file a claim.
