The Annual Insurance Review: Your Financial Health Check

When's the last time you reviewed your insurance policies? If you can't remember, you're probably overpaying — or worse, underinsured. An annual review is the single most effective way to ensure you have the right coverage at the right price.

Why Annual Reviews Matter

Your life changes every year, and so do insurance markets:

• Carrier rates shift — The cheapest carrier last year may not be cheapest today
• Your risk profile changes — Renovations, life events, and even credit score changes affect premiums
• Replacement costs increase — Construction costs have risen 20-30% in recent years
• New discounts become available — Carriers constantly introduce new discount programs
• Coverage gaps develop — Life changes (new pool, home business, teenage driver) create uninsured exposures

The 15-Minute Annual Review Checklist

1. Pull your current declarations pages for all policies (home, auto, umbrella, etc.)
2. Review dwelling coverage — Does it still reflect your home's replacement cost?
3. Check personal property limits — Have you made significant purchases?
4. Review liability limits — Are they adequate for your current net worth?
5. Check your deductibles — Could you afford a higher deductible for a lower premium?
6. Review auto coverages — Is your older car still worth carrying comprehensive/collision?
7. Look for life changes — New drivers, renovations, home business, pool, trampoline?
8. Ask about new discounts — Smart home devices, defensive driving courses, etc.

When to Do Your Review

60–90 days before your renewal date is ideal. This gives you time to:

• Get competitive quotes from other carriers
• Make any changes before your policy renews
• Avoid lapses in coverage if you decide to switch

What We Find in Most Reviews

In our experience, annual reviews uncover:

• Savings of $200–$500/year from carrier switches or discount discoveries
• Underinsured dwellings — 60% of homes are underinsured by at least 20%
• Missing endorsements — Water backup, scheduled jewelry, and identity theft are the most commonly missing
• Unused discounts — People install security systems but never tell their carrier

Schedule Your Free Review

Our annual reviews are free, no-obligation, and take about 15 minutes. We'll compare your current coverage against 30+ carriers and identify both savings opportunities and coverage gaps. Schedule your review today — your future self will thank you.