Reasons to Update Your Insurance Policy

by Community Manager ‎12-09-2015 02:53 PM - edited ‎12-16-2015 03:52 PM (5,065 Views)

A new job, a new pet, a new car. Changes in your life can lead to changes in your insurance needs. Here are a few to watch out for.

 

Adding Drivers to Your Home

With multigenerational family households on the rise—more than 57 million Americans now live in them—your teenager might not be the only relative to start using your car. Maybe your elderly parents have come to live with you, or you’ve got adult children who have returned home. In all cases, it’s important to have them listed on your policy if they’ll be driving your car.

 

Changing How You Use Your Car

Have you altered how, when or why you drive? Let your agent know. A retiree won’t need the same coverage as someone who drives to work every day. If, on the other hand, you’ve started a new job with a longer drive to work, you may need different coverage. And some uses, such as your son’s new job delivering pizzas, or driving people for a fee on Uber, may not be covered at all by your policy.

 

Driving a Special Vehicle

Did you buy a minivan to carry lots of kids, pets or groceries? Check with your agent to make sure your policy’s rental car allowance will pay for the same type of vehicle if yours is damaged in an accident.

 

An Unoccupied Home

If you’ll be away from home for several weeks or more, your home insurance policy may require you to take precautions to protect the property, such as having someone check the house weekly. If you’re moving out, your agent can tell you what measures you should take to protect yourself.

 

Getting a Pet

No one wants to believe their dog or cat would ever bite someone, but an injury caused by a pet is a risk that can be too costly to ignore. Last year, the average cost paid out for dog bite claims was $32,072. If you’re thinking about getting a pet, your agent can advise you on the insurance you need.

 

Making Renovations and Repairs

Have you built a deck or replaced the roof on your house? It’s important to let your agent know, so that your policy can be adjusted to match the increased value.

 

Collecting Valuables

Expensive items like jewelry, collectibles and entertainment systems may not be fully covered by a basic homeowners policy. If you’ve acquired high-dollar items that will be kept in your home, you may want additional coverage.

Whenever there are changes that affect your home or auto, the best way to make sure you have the proper coverage is to talk with your agent. No matter what company insures you, you can schedule a free AAA Triple Check, where you’ll learn if your insurance policies are keeping pace with your life.

 

To learn more, stop by any AAA office or review insurance options online.

 

A version of this story appears in the January/February 2016 issue of AAA Living magazine.

 

Image credit/source: iStock

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