The 15-Minute New Year's Resolution: Your Personal Insurance Review
Of all the New Year’s resolutions you may be making, let this one be at the top of your list: your year-end personal insurance review. An insurance policy written five years ago was designed for your life then, not your life now.
Many people view insurance as a one-time purchase. But think about how much your life has changed in the last year alone. As your family grows, your home improves, and the economy shifts, your insurance coverage needs to evolve alongside you.
Concannon Insurance Agency ensures your coverage evolves alongside you. We recommend a quick, 15-minute review to address these three critical areas:
1. Home Upgrades & New Assets
Home improvements increase your home’s value and your insurance needs to match that growth.
Examples of projects that affect your home’s replacement cost:
Roof replacement
Finished basement
Kitchen or bathroom remodel
Deck or porch addition
Additionally, new holiday gifts like jewelry, fine art, or high-end electronics often face strict coverage limits on standard policies.
How Concannon Helps: We carefully recalculate your home's replacement cost to match its current value and specifically schedule your new high-value items, ensuring you receive their full worth if they are lost or stolen.
2. Major Family Milestones
Life moves fast. You may need to make immediate adjustments to your long-term planning if any of the life events below happened in the past year.
Got married
Got divorced
Birth of a child
Bought a home
Entered retirement
Became caregiver for aging parents
Teenager earned their driver’s license
How Concannon Helps: Our experienced team reviews your liability limits to protect your savings and helps you secure life insurance that guarantees your family’s future, no matter what happens.
3. Economic Changes (Inflation)
Maybe your personal life hasn't changed, but the economy has. Inflation continues to drive up costs for the following:
Construction materials
Labor
Auto parts
This means repairing your car or rebuilding your roof costs significantly more today than it did just a few years ago.
How Concannon Helps: We monitor market trends for you. Our team adjusts your policies to reflect current repair costs, ensuring you are never left underinsured due to economic shifts.
Start the New Year with Confidence
Don't let a coverage gap derail your new year. For over 122 years, Concannon has helped clients navigate these changes with expertise and care.
Call (636) 537-5611 to schedule your quick personal risk review. Let’s make sure your protection is as current as your plans for the future.
