Quick Answer
Many people purchase insurance and rarely think about it again. The problem is that life changes quickly. A new home, home improvements, a teenage driver, valuable purchases, or rising rebuilding costs can all create coverage gaps. Reviewing your insurance regularly helps ensure your protection keeps pace with your life.
When Was the Last Time You Reviewed Your Insurance?
We ask this question often, and the answer is usually the same.
“Honestly, it’s been a few years.”
We get it. Insurance is one of those things most people put in place and hope they never have to use. Once the policies are purchased, life gets busy. Families grow. Homes change. Vehicles come and go. New hobbies appear. Careers evolve.
The challenge is that your insurance doesn’t automatically keep up with those changes.
Over the years, we’ve met with many families throughout Berks County and the surrounding communities who were surprised to learn they had coverage gaps they never knew existed.
The good news is that most of these issues can be addressed with a simple policy review.
Here are seven life changes that could leave you underinsured.
1. You Purchased a Home or Moved
Buying a home is one of the biggest investments most people will ever make.
Many homeowners purchase coverage at closing and never revisit it. Years later, they may discover that rebuilding costs have increased significantly.
Construction materials, labor costs, and building regulations change over time. What was adequate coverage five years ago may not be enough today.
A periodic review can help ensure your home coverage reflects current rebuilding costs.
2. You Completed Home Improvements
Have you renovated your kitchen?
Finished a basement?
Added a deck, patio, garage, or sunroom?
Home improvements often increase the value of your property. While that’s great news for your investment, it may mean your insurance needs updating as well.
We’ve seen homeowners invest tens of thousands of dollars into improvements without notifying their insurance company.
That’s a conversation worth having before a claim occurs.
3. You Added a Teenage Driver
Parents know the day is coming.
One minute your child is riding a bicycle around the neighborhood. Next, they’re asking for the car keys.
Adding a new driver can significantly affect your auto insurance needs. It’s also an excellent time to review liability limits and discuss available discounts.
A quick review today can help prevent surprises later.
4. You Purchased Valuable Items
Many people assume everything they own is automatically covered under their homeowners policy.
Sometimes that’s true.
Sometimes it isn’t.
Items such as jewelry, engagement rings, firearms, collectibles, artwork, musical instruments, and high-end electronics may have coverage limitations.
Should you have recently purchased valuable items, it’s a good idea to verify whether additional protection is needed.
5. You Bought Recreational Vehicles or Equipment
Pennsylvania families love to enjoy the outdoors.
Boats, motorcycles, RVs, golf carts, ATVs, and snowmobiles can provide years of enjoyment.
They also create additional liability exposures that many people overlook.
We’ve had conversations with clients who assumed their homeowners policy extended protection to all recreational vehicles. In many situations, separate coverage may be needed.
6. You Started Working From Home
Working remotely has become common.
For many people, that change happened quickly.
What didn’t happen as quickly was updating their insurance.
Should you operate a business from home, store inventory, meet with clients, or use expensive equipment, your personal policies may not provide all the protection you expect.
A policy review can help identify whether additional coverage is appropriate.
7. Your Assets Have Grown
As your savings, investments, and personal assets increase, your liability exposure often increases as well.
This is where umbrella insurance enters the conversation.
An umbrella policy provides an extra layer of liability protection above your home and auto policies.
Many families are surprised to learn how affordable this additional protection can be.
It’s one of the most common recommendations we make when conducting personal insurance reviews.
Why Insurance Reviews Matter
The goal of an insurance review isn’t to sell more coverage.
The goal is to make sure your protection still matches your life.
We’ve seen situations where clients were paying for coverage they no longer needed.
We’ve also discovered important gaps that could have created significant financial challenges after a loss.
A review helps identify both.
How Often Should You Review Your Insurance?
We generally recommend reviewing your personal insurance:
- Every year
- After purchasing a home
- After major renovations
- When adding drivers
- Following major purchases
- After marriage or divorce
- When starting a business
- When approaching retirement
Life changes quickly.
Your insurance should keep pace.
A Simple Insurance Review Checklist
Ask yourself these questions:
✓ Have I made improvements to my home?
✓ Have I purchased valuable items?
✓ Have I added or removed vehicles?
✓ Has my family situation changed?
✓ Do I have a teenage driver?
✓ Do I work from home?
✓ Have my assets increased?
✓ Have I reviewed my policies within the last two years?
Should you answer yes to any of these questions, it may be time for a review.
Let’s Make Sure Your Coverage Still Fits
At Rothenberger Insurance Services, we believe insurance should grow and change as your life does.
Our team works with individuals and families throughout Berks County and surrounding communities to review coverage, identify potential gaps, and help ensure protection keeps pace with life’s changes.
Sometimes the review confirms everything is in great shape. Sometimes we uncover opportunities to strengthen your protection. Either way, you’ll leave with a better understanding of where you stand.
Contact our team today to schedule a personal insurance review.
Frequently Asked Questions
How often should I review my insurance policies?
At least once a year and anytime a major life change occurs.
What is the biggest reason people become underinsured?
Life changes faster than their insurance coverage does.
Does homeowners insurance automatically cover jewelry?
Not always. Many policies have limits on certain valuable items.
What is umbrella insurance?
Umbrella insurance provides additional liability protection above your existing home and auto insurance limits.
Should I tell my insurance agent about home renovations?
Yes. Improvements can increase the value of your home and may affect coverage needs.
Locations:
West Reading: 610-406-5827
Wyomissing: 610-685-2804
Monday through Friday, 9:00 AM to 5:00 PM