Life changes can affect your insurance coverage, as well. When your lifestyle fluctuates, it may be time to talk to your insurance agent. Here are life circumstances that should prompt a call to the Taake Insurance Agency in Columbia, IL for a review of your insurance safety net.
- Marriage or divorce – Combining households means sharing risks. In these situations, a professional review of your homeowner’s policy could mean lower premiums. Your new spouse may also have some concerns that aren’t adequately addressed in your existing plan that an agent can help resolve. Divorcing partners need to update beneficiary information and discuss credit changes related to marital dissolution that might affect their coverages.
- Significant renovations – Adding rooms, tearing down large structures, underground work, and other home renovations affect more than your property values. They could also affect your insurance-related risks. Take your floor plans to your insurance agent to discuss how changes may affect your insurance. Some types of renovations may violate your agreement or require contractual changes. Schedule your insurance review before the work starts to prevent costly problems.
- Birth, death, and adoption – Adding new family members via birth or adoption mean updating your beneficiary list. It may also require an adjustment in your homeowner’s insurance coverage. More people means more stuff, so talk to your agent about increasing your coverage amounts or adding an umbrella policy as a back-up. Losing a family member triggers similar changes. If the subscriber passes away, your insurance agent can help you decide how to use payouts to your family’s best advantage.
The experts at Taake Insurance Agency are always happy to help you review your existing coverage. Contact our Columbia, IL area offices for help with your personal and commercial insurance issues.