Reviewing and Updating Your Insurance for the New Year

What you should look for when reviewing and updating your insurance for the new year.

If you haven’t already taken care of your annual insurance review, then the start of the new year provides the opportunity to do so. Your insurance review asks you to consider the major life changes that you have experienced and determine how these changes have affected your insurance needs. Ready to review and update your various insurance policies but not sure where to focus? Here are some of the areas that need your immediate attention.

Coverage Limits and Gaps

The most important part of your insurance review is determining if your policies are offering you the right amount of coverage. Your personal insurance policies are designed to cover assets like your income, savings, and investments. If any of these assets have increased over the past year, then you may need to increase your coverage limits to ensure that you have the comprehensive financial protection that you need. In some cases, simply raising the coverage limits on your policies will not be enough. If life changes have left you with gaps in your coverage, then you will have to consider securing new policies or insurance endorsements to address these lapses.


A deductible is the amount on any insurance policy that you agree to pay out-of-pocket before your insurance coverage kicks in. At this point, you probably know that the higher deductible you assume, the lower your insurance premiums will be. If you want to save money on your coverage, you should review your finances and determine if you can afford to increase your insurance deductibles. If you do decide to bump up your deductible amounts, make sure that you do not raise them too high. Setting a deductible that you cannot actually afford will prevent you from accessing your insurance coverage when you need it the most.

This is where you need to focus your attention during your insurance review and update. Do you have additional questions regarding your personal insurance needs? If so, then contact the experts at Robert J. Los Insurance Agency in Hamburg, New York. Our dedicated team is eager to assist you with all your coverage needs today.

Robert J. Los Insurance Agency

Robert J. Los Insurance Agency

Address: 4167 Legion Drive,
Hamburg, NY 14075

Phone: (716) 648-6100
Toll Free: (800) 747-0780
Fax: (716) 648-6104

Office Hours:
Monday-Thursday, 8:30 AM - 5:00 PM
Friday, 8:30 AM - 4:00 PM

We Look Forward to Serving You!

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