Simple Steps to Changing or Updating your Insurance Coverage

Simple Steps to Changing or Updating your Insurance CoverageEvaluating components of your insurance in Hartford, Connecticut is made easy with Byrnes, whether it is for your home, car, or life. Nobody likes thinking about how they’ll rebuild their home after a disaster or provide for their family if they’re no longer around, but it is critical to be prepared for anything that could arise.

Your insurance needs evolve with your family situation, income, location, and the market. We suggest that you do an inventory periodically to know your stance on key insurance policies, and whether you could do with some changes in your coverage. Still not sure when to adjust your coverage, or how? Let us help you.

Life Insurance

As a minimum, review your life insurance at least once a year. You will also need to review it additionally after any major life event, such as getting married, having a child or buying a home.

Make sure your policy is enough to replace your income until your dependents can cover major expenses themselves. If you got your policy when you were young and single, you will most likely need more coverage when you’re married with several children.

Term insurance requires you to make sure the policy will be in place until your youngest child no longer lives with you. Once your term runs out, it’s definitely time to look into getting a new policy. With a permanent policy you must make sure the expenses aren’t eating into your principal.

Don’t cancel your current policy until you’ve confirmed a new one. Depending on what you’re paying now, it may be cheaper to add a second policy to enhance what you have, or you may be able to change the details of your coverage to better fit your current situation. Typically the younger you are when you begin a policy, the less you’ll pay, but that doesn’t mean that you can’t find better deals as you get older.

If your employer offers life insurance as a benefit, don’t fully rely on that. If they let go of a benefit or you change jobs, you won’t be protected.

Homeowners Insurance

Review homeowners insurance every year or after major home improvements, accumulation of more valuables or you have a greater risk of being sued. Note if building costs have increased in your area. Most policies are based on the replacement cost of rebuilding your home. Make sure that amount is in line with your home’s current features and building costs in your area.

Many people buy a home, get insurance, and don’t re-evaluate. Take the time now before it’s too late. Also, bundling your policies could allow for some savings on your premium.

Homeowners insurance doesn’t just protect your home; it can protect your assets if someone gets hurt on your property. Most policies come with basic liability protection, but if that’s not enough you might need to increase the amount or get a personal liability umbrella.

Auto Insurance

Look over your auto insurance at least once a year. If you’re out of your 20s and haven’t got a traffic violation ticket in a while, your rates will likely decrease each year.

Speak with an agent about Connecticut insurance minimum requirements for liability coverage. If your car is relatively new or is a vintage collector’s item, a comprehensive collision policy may be best for you.

There are many ways to save on insurance, including changing driving habits or simply driving less. You may qualify for low-mileage policies if your miles each year are low.


About Byrnes Agency

At Byrnes Agency, we offer auto insurance solutions that can be tailored to meet your specific needs. Whether you have an old classic car or a brand-new model, we have the right coverage for you. To learn more about our products, contact us today at one of our two locations.

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Dayville Office

Phone: (860) 774-8549

394 Lake Rd

Dayville, CT 06241

United States

Hours of Operation: Monday- Friday 9:00am-5:00pm

Norwich Office

Phone: (860) 886-5498

6 Consumers Avenue

Norwich, CT 06360

United States

Hours of Operation: Monday- Friday 9:00am-5:00pm

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