Oftentimes homeowners and drivers will file their policy documents away (or worse, throw them in the trash) and pay them little mind until it comes time to pay the renewal premium. As a home, auto or health insurance policyholder this is one of the biggest mistakes you can make if you want to ensure you are adequately covered at all times.
As life changes occur, it’s always a good idea to think about how this may affect your insurance policies. For example, do you have a new driver living in your house? Better add them to your auto policy. Have you remodeled or upgraded part of your home? You’ll probably want to make sure your dwelling coverage provides for this. Do you have a new baby on the way? It’s a good idea to check your maternity hospital coverage.
Experts often agree that reviewing your policy every 6 months or so is recommended. This will help you catch any issues with your coverage that may have come up since your last renewal. Don’t hesitate to call your insurance agent if you have any questions about what is covered and what’s not. It’s better to be informed than to find out the hard way!
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1. Prohibit pre-existing condition exclusions for children in all new plans;
2. Temporary high-risk pool for Americans with pre-existing conditions;
3. Insurance companies no longer able to drop sick people;
4. Lower seniors prescription prices by beginning to close the donut hole;
5. Tax credits to small businesses covering employees;
6. Elimination of lifetime and annual benefit limits;
7. Children can stay on parents' coverage until age 26;
8. New plans must cover preventive and immunizations;
9. Consumers will have processes to appeal insurance plan decisions;
10. Rebates to enrollees from insurers with high administrative expenditures and public disclosure of the percent of premiums applied
to overhead costs.