Life happens quickly. When things change suddenly, it can be difficult to adjust without the right guidance. This is especially true with your insurance protection plan. When does changing circumstances in your life trigger changes to your home insurance policy? Insure It All suggests that you review your Idaho Falls, ID area home insurance plan if you experience any of these life changes.
Death and Birth
A new baby means more than diapers and childproofing your environment. Adding another member to your family also means your beneficiary list has probably changed. Bring this up at your next meeting with a qualified insurance agent to choose how to distribute your policy’s funds in case of a payout.
When a family member who lives in the home passes away, the same thing applies. Review your beneficiary list to ensure payouts can be delivered to those who will need it most.
Marriage and Divorce
A new marriage often means new legal ties between two people. Check with your insurance agent if you plan to add your new spouse to the deed on your home. Even if you don’t, there could be some advantages to adding your new spouse to your home insurance policy.
Marital dissolution often demands the liquidation of commonly held properties. If one of the divorcing parties is keeping the family home, however, their home insurance policy will definitely be impacted. Your insurance agent can give you personalized guidance on these adjustments.
If your job description suddenly changes, it could change your insurance coverage options as well. Those who work from home should talk to their agents about commercial policies that specifically protect their business assets. If you travel away from home often, you may need additional protection against theft and home invaders.
Fluctuating paychecks can also be a reason to change your policy. You may be able to afford more coverage than you could previously, or may need to adjust your coverage to lower deductibles.
Whatever your circumstance, Insure It All is here to help you understand how they affect your home insurance options. Contact our Idaho Falls, ID area agents for a customized review of your insurance needs.