Ghosts, goblins and things that go bump in the night might give you a scare in October—but an unexpected insurance problem can be a whole lot scarier.
The good news? Many common insurance mistakes can be avoided with a little planning and an occasional conversation with your insurance agent.
Here are seven insurance mistakes you definitely don’t want haunting you.
🎃 1. Letting Your Insurance Policy Lapse
Missing a payment or forgetting about a renewal can result in a lapse in coverage.
That can leave you without protection if something happens during the gap. A lapse may also make it more difficult—or more expensive—to obtain coverage later.
If you’ve changed banks, received a new credit or debit card, or recently moved, it’s a good idea to verify that your insurance company has your current payment and contact information.
🧛 2. Assuming “I’m Covered” Means Everything Is Covered
This might be one of the biggest insurance misconceptions.
Home, auto and business insurance policies all have limits, exclusions and conditions. Certain risks may require additional coverage or endorsements.
Instead of assuming something is covered, ask us! It’s much better to find out before a claim than after one.
🚗 3. Forgetting to Tell Your Agent About a New Driver
Have a teenager who recently got a driver’s license? Did someone move into your household? Is someone regularly using one of your vehicles?
We need to know.
Household drivers can affect your auto insurance, and failing to properly disclose drivers could create problems when it’s time to file a claim.
🏚️ 4. Renovating Your Home Without Updating Your Insurance
New kitchen? Finished basement? Added garage? Major addition?
Home improvements can increase the value of your home and the cost to rebuild it.
If you’ve made significant renovations since you purchased your homeowners policy, your current coverage limits may no longer reflect your home’s replacement cost.
Don’t let that beautiful new kitchen turn into an insurance horror story.
💀 5. Choosing Coverage Based Only on Price
Saving money is important—but the cheapest insurance policy isn’t always the best fit.
Two policies with similar prices can have very different deductibles, limits, exclusions and optional coverages.
That’s one of the advantages of working with us! We can help you compare more than just the premium and look at the coverage behind the price.
🕸️ 6. Letting Your Liability Limits Collect Cobwebs
When was the last time you looked at your liability limits?
As your assets, income and lifestyle change, the amount of liability protection you need may change too.
We can review your home and auto liability limits and discuss whether additional protection, such as an umbrella policy, may make sense for you.
👻 7. Never Reviewing Your Insurance
Life changes quickly. Your insurance doesn’t automatically know when it does.
Maybe you’ve bought a vehicle, remodeled your home, started working from home, purchased expensive equipment, added a teenage driver or started a side business.
An annual insurance review gives you and your agent an opportunity to talk about what’s changed and determine whether your current coverage still fits your needs.
Don’t Let Your Insurance Get Scary
Halloween is supposed to be scary.
Your insurance shouldn’t be.
A quick conversation with us can help uncover gaps, find outdated information and coverage questions before they become unpleasant surprises.
This October, while you’re checking the candy bowl and putting out the pumpkins, add one more thing to your list:
Give your insurance coverage a quick review.
It might be the easiest scare you avoid all season.