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Just moved? Life Changes? Review Your Insurance Policies!

Mosaic Insurance advises Prescott residents when to review insurance policiesInsurance is something meant to protect you and your loved ones, and your home from the unexpected, but it can only do its job if the coverage is up to date. Mosaic Insurance, your local independent insurance agents in Prescott, recommends reviewing your insurance annually or during major life changes such as:

Status changes - If you're marrying, expecting a baby, or adopting a child, you'll want to protect your growing family with adequate life insurance and disability income insurance. Losing a family member through death or divorce should also prompt a policy review. Remember to change the beneficiary designations on your existing policies as needed to meet the current status of your family.

Children - When you have a new teen driver, adequate auto insurance is a must. If your student is leaving for college or has recently graduated, it's a good time to consider personal property, liability, and renters insurance for the new living arrangements. New addition to the family?

Moving -  Any time your address changes, you should review your homeowners insurance to make sure the new property is adequately protected. It's also a good time to update your home inventory - whether you're adding items such as new furniture or scaling back for a move to a smaller home. You will also find that different areas have their own premium structure, so a review is very important.

Home Remodeling - If you make major changes or renovate your home, it may add value to your residence. You May need to update your coverage to cover the value of the upgrades.

Starting a business - Whether you're going to rent office space or open a home-based business, include a thorough insurance review in your start-up plans. Depending on the size of your operation, you may have to consider property and liability, commercial vehicle, and workers' compensation coverage, as well as a health care plan for employees. If you're a sole proprietor working from home, be sure to review your homeowners plan to see that your business and equipment are fully covered. 

Although most of us hate buying insurance, not having it is even worse. If you have not reviewed your Prescott insurance coverage recently, have had major changes in your life, or if you don’t really understand what coverage you have, contact Mosaic Insurance at 928-458-7374 to speak to one of our insurance professionals.

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