Renewals

Insurance provides crucial financial protection for individuals and families. Appropriate insurance coverage can help cover your personal liability and help protect valuable property.

While many people rarely think about their insurance coverage, reviewing your policies and any relevant changes to your situation may impact the coverage you need. Contact JJ Insurance in Denver, Colorado, today to get help reviewing your coverages.

What Is a Policy Renewal?

Insurers typically issue auto, home and business insurance policies for a specific time, known as a policy term. Generally, personal insurance policies are set for a one-year policy term but could also be six-month terms or shorter. During the policy’s term, you pay a fixed premium. When an insurer renews a policy, your premium may change. Most personal insurance policies are set up to renew each year automatically.

It’s wise to review your coverages annually and be aware of any changes to your insurance premiums as your insurer renews your policies. Insurance premiums may go up for numerous reasons, many of which are outside of the policyholder’s control. Contact your agent immediately if you have concerns about your coverage or changing premiums.

Changes Your Agent Needs to Know About

There may be times when you need to make changes to your insurance policies. Be sure to let your agent know if you experience any of the following:

• Marriage, divorce or separation
• Address or name change
• Buying, leasing or selling a vehicle
• Purchasing new insurable property such as a recreational vehicle (RV), second home, vacation home or boat
• The birth, adoption or death of a family member
• Child moving out to attend college
• New driver in the household
• Paid off a financed or leased vehicle

You don’t have to wait until renewal time to contact your agent. If you have concerns about the cost of your insurance coverage, ask your agent to review your policies and identify any potential discounts. Depending on the types and amounts of insurance coverage you purchase, it may be wise to periodically ask your agent to shop around for coverage to ensure you get the best possible rate without sacrificing coverage.

Review Your Coverage

When you review your insurance coverage with your agent, verify that you have enough homeowners or renters insurance coverage to replace lost personal property after a covered event.

If you own your home, make sure you have enough coverage for the structure. Most homeowners policies exclude flood coverage, so you’ll need a separate policy if you want insurance to cover potential flood damage.

Contact JJ Insurance today to get help reviewing your current insurance coverage and get personalized quotes for auto and home coverage.