Re-shopping your policy is not just for when you have a major change. Oftentimes, new coverages can become available that you won’t want to miss! Not only that, reviewing your insurance at renewal is crucial to making sure everything is still covered, in case you acquired anything new or did any renovations during the course of your policy.
Within the last five years, many of the companies we regularly work with have added these very useful and frequently used coverages:
Hidden water seepage/leakage
Matching of undamaged exterior surfaces
100% extended dwelling coverage
Guaranteed dwelling replacement coverage
Higher levels for “Ordinance or Law” coverage.
Short-term renting of your home (or “home sharing”)
So, if you don’t call in or take advantage of re-shopping with us, you could miss out on some new important coverage options.
Bundling home and auto can certainly save money in the long run, as can re-shopping with new insurance companies. One of the many benefits of working with an insurance brokerage (that is, us!) is that we have the ability to re-shop more than one company for you. With new coverages available all the time, as well as increases in current coverages, re-shopping can only be beneficial. Here are some times to consider re-shopping your policy:
Around the time your policy is up for renewal
Upon getting a new vehicle
When moving or relocating
If you add another driver
Once a teenager becomes licensed
After receiving valuable gifts for Christmas or Birthdays
Upon acquiring any new jewelry
If a current driver needs to be removed
When adding a new family member (such as a baby)
If you get a new pet
After any major natural disasters
Upon completion of any remodeling
After vehicle upgrades
After getting married or divorced
When it comes to home insurance, while it may feel that an increased rate is negative, keep in mind that with inflation, if your policy didn’t go up, your property wouldn’t be insured to current value, as your home insurance follows an inflation index. This means you’d end up
paying more out-of-pocket in a claim situation, often by a significant amount.
If you’d like us to re-shop or look through your policy with you for peace of mind, please reach out to the office at 720.335.6872 and we will happily assist you! We appreciate you asking about coverage options and giving us the chance to do for you, what we do best.