January is a popular time for setting goals and resolutions for the year to come. While most’s resolutions tend to be health-related, financial changes are valuable goals that can leave a lasting impact. One goal that is both financial and health-related is reviewing your insurance policy to make sure your information is up to date, you have the coverage you need, and you are getting the best rates. 

Personal Insurance

Personal insurance like home and auto should be reviewed yearly to account for any significant changes in your personal life. It is important to evaluate if you are underinsured, have made any home improvement changes, or have had your home appraised in the past year. Other changes include familial, such as having a baby, getting married or divorced, adopting or fostering children, or a significant death in the family. If you have added a furry family member to the household, not only is pet insurance a good investment, but certain pets such as larger dogs can affect your homeowner’s policies.

If you received a new car for the holidays or have updates to your driving record, auto insurance policies can be affected. If you have moved, make sure to reach out to an agent to see if your new neighborhood can affect your car insurance policy as well. If you didn’t have any straightforward changes to make to your policy, you should still always review your terms for the amount of coverage, collision, and work with an agent for a better price or policy.

Business Insurance

Businesses can have significant changes from year to year. The number of employees on payroll, the office’s location, and the products or services you offer can all fluctuate and affect your business insurance policies. Business auto insurance should be reviewed yearly as well to account for any changes in your vehicle fleet, and the employees who drive them. As online data storage continues to increase, so does the potential for cyber attacks. Cyber liability insurance is a smart idea to consider adding to a business’s policy during review. Finally, while all business goals are to increase revenue, that higher number can affect business insurance policies. Review your coverage today to avoid any costly premium adjustments at the end of the year. 

Life Insurance

Whether you have a Life Insurance policy already or are considering coverage, it is important to evaluate your health status yearly as it can affect your terms. The healthier and younger you are, the lower your premium will be. In addition, any changes in familial status can trigger a change in your beneficiaries. It is important to review your policy to make sure the correct people in your family are covered as well as you have the right amount of coverage for any income status changes. 

All insurance policies should be reviewed yearly and a Yurconic agent is a knowledgeable resource to help you navigate complicated terms and jargon. Reach out today to review your current insurance policies, make changes, check for better rates, or start from scratch! 2023 is already off to a great start with Yurconic!