Can You "Futureproof" Your Life?

Why Your Annual Insurance Review Matters

One thing most people agree on: insurance isn’t fun! Many dread the prospect of speaking to their insurance agents. Do you find it difficult to pick up the phone, even to make a minor change like adding a new vehicle to your policy? There could be many reasons why you might feel this way. Is it difficult to reach your agent, or is there a lack of understanding when you do talk with your agent?  The worst feeling is when you feel your insurance company or agent has let you down. Booking an annual insurance review is one way to prevent this from happening.

We can all relate to a time when we’ve called our agent’s office and didn’t get an immediate response. Sometimes the agency is busy and your agent is not available, so you get a customer service rep instead. In today’s world, most customer service reps are licensed and qualified to answer your questions effectively. If you’re not satisfied, always ask to have your agent call you back.

When our insurance company or Agent/Agency actually seems to let us down, it can feel like the worst thing that could happen and is the perfect example of why insurance is not fun. You pay for a service and then it appears that the service is not provided: for example, paying for home insurance every year but when your sump pump fails, water backs up into the basement doing considerable damage, and then you’re told by your agent that it is not covered. This is an example of why consumers have bad feelings toward insurance companies and agents. If the agent had spent time with her client to discuss her specific situation, they could have identified the need to add a special endorsement to her policy that would cover this loss.

Sitting down with your agent once a year to discuss your individual situation helps establish a personal relationship between you, and helps the agent identify more about you and your specific needs. While policies are required to contain certain general coverages mandated by law, often agents need to place special endorsements onto a policy to cover a need you may have that’s outside of the required policy language. And it’s very common (and expected) for changes over time to require adjustments to your coverage. For example: you recently became an Uber or Lyft driver, but weren’t when you started your auto policy. Your agent needs to add special coverage to your policy if you drive for a service like Uber or Lyft. Communication with your agent is key to identify any such special coverage needs you may have and establish the best coverages for you.

Insurance agents are advisors who can help you navigate through your policy to ensure that your coverage is right for you. Touching base once each year can help ensure that your insurance works for you when you most need it: at a time of a loss.

About the Author: Patricia Pipkin of Allstate Insurance provides area families with a wide variety of coverage and services. To learn more, call 847.201.4905 or email patriciapipkin@allstate.com.