Home and Auto Insurance
Home and auto insurance are the two most common types of insurance people have. Typically bundling these two together with one insurance provider gets you a great discount on your premium. Some people choose to have their home insurance rolled into their mortgage payments. The process for renewal is still the same. Whenever your home or auto insurance policy term is ending, you should receive notification via mail or email that it is time for renewal. Here are four important things to consider when renewing your policy:
- Check for price and rate changes. These can increase due to claims.
- Make any changes to your policy like adding additional coverage.
- For home insurance, update your policy indicating if you have made any home improvements.
- For auto insurance, make sure your policy is updated to cover the correct vehicles.
You can always talk to your dedicated insurance professional at Granite Insurance with any questions about your type of coverage change or any differences in policy rates.
Life Insurance
Some life insurance policies operate on a term basis. When your term is about to expire you may have the option for renewal. You shouldn’t be required to take a medical exam to renew your life insurance policy, but your premium may increase due to life changes like aging.
Health Insurance
Every fall, open enrollment and health insurance renewals take place. Typically your health insurance renewal policy will recap your coverage for the past year, but also reflect new price and rate increases for the upcoming year. You will want to be looking over these six important things when reviewing your health insurance policy for renewal:
- Monthly premiums
- Deductibles
- Copays/coinsurance
- Out-of-pocket max
- Network
- Preventative care coverage
Your health insurance provider will also remind you about extra plan benefits such as vision coverage.
Business Insurance
Business insurance protects you from liabilities or financial losses you may occur as a business owner. The main question you want to ask yourself is “Am I covered?” Gaps in your coverage may leave you susceptible to paying out a lot of money for an incident that your insurance would have handled. Here are some key things to consider for your business insurance policy:
- Changes to the number of employees.
- Did your business structure change?
- Gather your sales, payroll, and other financial information to make an informed decision.
- Did your business relocate or expand?
- Did your business upgrade equipment?
- Consider your business plans for the upcoming year.
Your business is always evolving, so your business insurance should reflect that.
Contact Us Today
The renewal process can vary from policy to policy with different types of insurance. Granite Insurance is an independent insurance agency focused on forming a long-term risk management relationship with our clients. No matter your insurance needs, the experts at Granite Insurance are here to help. Schedule a meeting with one of our insurance professionals today!
