General insurance isn’t a “set and forget” purchase. Your needs can change significantly over time, and it’s essential to ensure your cover evolves with you.
Regularly reviewing and updating your general insurance—whether it’s home, contents, car, landlord, travel, or business insurance—can help you avoid being underinsured, overpaying, or missing out on better coverage options. Knowing when to review your policies is just as important as having them in the first place.
One of the most important times to review your insurance is after a major life event. Getting married, starting a family, buying a home, or downsizing all change your risk profile and financial responsibilities. For example, if you’ve recently welcomed a new baby, you might need to increase contents coverage, or if you’ve separated from a partner, you may need to remove a name from joint policies.
Asset changes are another key trigger. If you’ve purchased high-value items—like jewellery, electronics, artwork, or new furniture—your contents insurance may need to be adjusted to reflect the new replacement value. Likewise, renovations, installing a pool, or upgrading your home’s security system can all affect your home insurance needs.
Lifestyle changes also have a big impact. Working from home more often, taking extended travel, changing how you use your car, or launching a side business could all affect your coverage requirements. Even getting a pet or adding a young driver to your motor policy warrants a conversation with your insurance adviser.
This is where the guidance of a general insurance broker or adviser is invaluable. Brokers or advisers don’t just find policies—they help you stay informed, protected, and up-to-date. They’ll ask the right questions to uncover any gaps, help you understand what’s covered (and what’s not), and explain policy options that suit your changing circumstances. They also have access to a wide range of insurers, giving you better opportunities to compare pricing and features.
Reviewing your insurance annually—or sooner if any of these life changes occur—ensures that your cover keeps pace with your real-world needs. With expert advice, you can make smart, proactive decisions about your protection, avoid nasty surprises at claim time, and stay financially secure through life’s ups and downs.
Don’t wait until something goes wrong to check your insurance. Talk to your broker or adviser regularly and keep your cover working for you.
If this article has inspired you to think about your unique situation and, more importantly, what you and your family are going through right now, please get in touch with your advice professional.
This information does not consider any person’s objectives, financial situation, or needs. Before making a decision, you should consider whether it is appropriate in light of your particular objectives, financial situation, or needs.
(Feedsy Exclusive)
