If you’ve had a Hastings Mutual policy for more than a year, you’ve seen the term “renewal.” It shows up on your invoice when it’s time to pay your premiums, and it means that you’re continuing the coverage you had last year or even the coverage you decided on when you first bought your policy — which could be decades ago.
Is that always the right solution? Circumstances change all the time: new jobs, new family members, different cars… revisiting your insurance policy is something you should do whenever something is different in your life. But in this busy world, that can be hard to remember. That’s why renewal time isn’t just time to pay your bill; it can be time to review your coverage.
What kind of questions should you ask when checking your policy? Here are a few ideas.
When I bought a new car last year, I changed my auto policy right away (I didn’t really have a choice; getting insurance information is part of buying a car). But maybe something’s different at your company, and without a policy update your business coverage won’t be comprehensive enough if something goes wrong.
Some Hastings Mutual policies offer discounts for being a good student, a senior, or a member of a professional organization. There are discounts for having multiple policies with us too.
This is always a balance between your regular premium expenses and the cost of cleanup or repair. Maybe reviewing your insurance will lead to a bigger look at your entire financial situation… maybe not fun, but necessary from time to time!
One of the things Hastings Mutual does regularly is review the coverages we offer and see what we should feature. Some things are simply not our target market (we don’t offer those policies that cover famous singers’ voices or actors’ legs). But we’re adjusting our coverages all the time as the world changes and we try to keep up.
If you have these questions or others, talk with your local independent insurance agent and see what he or she knows about the policy that you might not. Rules and regulations change all the time; we partner with trusted agents who can help sift through those guidelines and see what applies to your situation.
It’s easy to just pay the insurance bill and forget about it, but that might not be the best solution for you if you’ve made a recent change or there’s one coming up soon. When it’s time for renewal, take a moment and revisit your policy. Get the coverage that’s right for you today.
Questions? Let us know in the comments.
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