Blog Layout
Why January Is the Perfect Time to Review Your Policies with Your Insurance Agency
Ray Cogan
Your Insurance Agent Can Help You Plan for 2025.
The start of a new year brings fresh opportunities to reset and refocus on our personal and professional priorities. It’s a time for resolutions, planning, and improvements. The new year is also the perfect opportunity for many to review an often-overlooked part of their financial well-being: insurance policies.
Whether you’re a homeowner, a landlord, a business owner, or simply looking to protect your family’s future, reviewing your insurance coverage with your trusted insurance agency should be at the top of your January to-do list. January is an ideal time to take action and see how your insurance agent can help you plan for 2025.
1. The New Year Brings Changes in Your Life
Life changes and so do your insurance needs. Whether you’ve moved, started a new business, welcomed a new family member, or made significant changes to your home in the past year, your insurance policies might need an update to reflect your current situation.
For example:
- If you recently renovated your home or added a new room, your homeowners' insurance policy may need adjustments to ensure adequate coverage for the increased value.
- If you purchased new equipment for your business or expanded operations, your commercial policy may need to reflect these changes.
- For growing families, it’s worth considering whether your current life insurance policy offers enough coverage to protect your loved ones.
- By reviewing your policies now, you can ensure your coverage is up to date and that you’re not caught off guard in the event of a claim.
2. Avoid Surprises During the Year
The beginning of the year is an excellent time to eliminate uncertainty. Insurance is meant to provide peace of mind, but outdated policies can leave gaps in coverage. Imagine discovering that your car insurance doesn’t cover an accident because your vehicle’s use has changed, or that your business policy doesn’t fully protect against an increasingly common risk like cybercrime. These surprises can be avoided with an annual policy review.
Working with your insurance agency, you can clarify the fine print, understand your deductibles, and verify your coverage limits to ensure you’re fully protected.
3. Rates and Discounts May Have Changed
Another reason to revisit your insurance policies in January is to explore potential cost savings. Insurance rates change regularly, and you may qualify for discounts or new programs that weren’t available when you first purchased your policy. ***
For example, if your home has had a new security system installed or your driving record has improved, you might qualify for lower premiums. Bundling policies, such as combining auto and home insurance with the same provider, can also lead to significant savings.
Your insurance agent can help identify these opportunities and ensure you’re not overpaying for coverage.
4. Prepare for the Year Ahead
The new year is also a time to think about potential risks in the year ahead and how you can proactively mitigate them. Your insurance agency is an invaluable resource when it comes to planning for the unexpected.
- For instance: If your area is prone to winter storms, make sure your home insurance policy covers potential damage from snow and ice.
- If your business is expanding, consider whether you need additional liability or property insurance.
- For those nearing retirement, it’s an excellent time to assess health and life insurance needs to ensure a smooth transition.
January provides the perfect opportunity to think strategically about your coverage and to work with your agent to make adjustments based on your goals for 2025.
5. Tax Season is Around the Corner
Finally, reviewing your insurance policies in January can set you up for success as tax season approaches. Certain types of insurance, such as business liability or health insurance for self-employed individuals, may be tax-deductible.
By working with your insurance agent early in the year, you can ensure you have all the necessary documentation and a clear understanding of how your policies impact your taxes.
Additionally, reviewing your policies now ensures there are no gaps that could lead to unexpected out-of-pocket expenses later in the year, helping you stick to your financial plan.
How to Get Started
- Reviewing your insurance policies may sound like a daunting task, but it doesn’t have to be. Your insurance agent is there to guide you through the process and make it as simple as possible.
- Schedule a Policy Review Appointment: Reach out to your insurance agency and schedule a time to go over your policies.
- Prepare Your Questions: Think about any changes in your life or areas of concern, such as new assets or potential risks, and discuss these with your agent.
- Ask About Discounts and Updates: Don’t hesitate to ask about ways to save or improve your coverage based on new offerings.
- Keep Records Up to Date: Make sure your agent has the latest information about your home, vehicles, business, or other insurable assets.
When it comes to protecting what matters most, working with a local insurance agency can make all the difference. Local agents understand the unique needs of their community and can provide personalized service that online providers often can’t match.
If you’re in Maryland, you can find helpful resources and guidance from local insurance agencies to get started. For example, the Maryland Insurance Administration provides a wealth of information to help residents make informed decisions about their coverage. Learn more here.
Make 2025 Your Best-Protected Year Yet
Now is the time to make sure that you have the right insurance coverage for the year ahead. Reviewing your policies now can save you time, money, and stress down the road. At Lindquist Insurance, we’re here to help you navigate the complexities of insurance and find the best solutions for your unique needs. Whether you’re looking to update your existing policies or explore new coverage options, our experienced consultants are ready to assist you.
Contact us today to schedule a policy review and take the first step toward a more secure future. Visit us at www.lindquistinsurance.com
to learn more about our services and how we can help you protect what matters most in 2025 and beyond.
We serve Frederick, MD, Annapolis, MD, and Washington, D.C.
*** For more information about insurance rates, visit the State of Maryland website.
At Lindquist Insurance, we understand the unique needs of couples and are committed to helping you find the best coverage options. Our team of experienced agents is ready to assist you in navigating the complexities of insurance planning.
We serve Frederick, MD, Annapolis, MD, and Washington, D.C.
Our insurance agent based in Frederick can help you achieve financial stability and peace of mind. Protect what you have, prepare for the unexpected, and build a plan for the future.
Check with your insurance agent, in Frederick, about coverage for the holiday season. From theft to accidental damages, the holidays can bring surprises that aren’t always pleasant.
Our insurance agency in Frederick wants you to deck the halls without worry. Read our holiday safety guide for tips on how to keep your home safe for the holidays.
We provide car insurance in Frederick. Check out our guide to affordable car insurance for senior citizens including potential discounts and coverage options to consider.
We provide car insurance in Frederick. Choosing the right insurance involves balancing coverage needs with affordability. Shop around, compare quotes, and ask questions.
Our insurance agent in Frederick answers the top ten questions you need to ask about insurance. We are committed to helping clients make informed decisions about their coverage.
Our insurance agency in Frederick understands that insurance is about protecting what matters most to you. Safeguarding the people, property, and assets in your life is paramount.
At Lindquist Insurance, serving Annapolis and Frederick, MD, we can help you with the homeowners and renters insurance that your family needs. Contact us today to learn how we can help you protect your child’s property and liability while at college. Call (301) 694-0008 to speak to our experienced and licensed insurance agents for a consultation and quote.
We serve the Annapolis, MD, and Frederick, MD areas.
Share On: