Why You Need An Annual Insurance Check-in

by Taylor Trahan Henry

As we step into 2025, financial resolutions are top of mind for many. While budgeting and saving often take center stage, making your insurance portfolio a key part of your financial strategy is equally important. Insurance is more than a necessary expense—it’s a vital tool for protecting your financial future. By prioritizing smart insurance practices this year, you can build resilience against life’s uncertainties.

Jennifer Mabou, a local State Farm agent, offers practical advice for optimizing your insurance coverage and aligning it with your financial goals.
“Take the time to review your deductibles and incorporate them into your emergency fund or budget,” Mabou advises. Understanding your out-of-pocket costs before filing a claim helps avoid surprises and prepares you for unexpected expenses. This proactive step adds a layer of security to your financial planning.

An annual check-in with your insurance agent is crucial to ensure your coverage aligns with your current needs. “Make sure your coverages are accurate and adequate,” Mabou emphasizes. “At the same time, confirm you’re receiving the best pricing available.” This simple habit safeguards your assets without overspending on unnecessary coverage.

For drivers committed to safety, Mabou recommends considering Safe Driving telematics programs. “These programs reward safe drivers with discounts, offering savings while encouraging responsible habits,” she explains. It’s an easy win for both your wallet and your peace of mind.

Start the year by creating or updating a detailed inventory of your belongings. “Document your home, apartment, or business contents with photos or videos,” Mabou suggests. This step can significantly expedite the claims process and ensure fair compensation if losses occur.

Understanding the broader insurance landscape is vital in today’s volatile market. Mabou points to rising costs of auto and homeowner claims, supply chain disruptions, and increased bodily injury claims as contributors to premium hikes. “Stay informed, contact your elected officials, and participate in conversations about potential solutions,” she encourages.