As the pandemic and resulting health crisis began last year, having more time at home, many began checking belated items off their ‘to-do lists.’ Tasks included ‘power’ cleaning, purging closets and basements, performing light home remodeling projects (the staff at Home Depot and Lowe’s now greet me and my husband by name), even streaming daily workouts and buying new home exercise equipment, among other activities.
As well, some invested the time in reviewing their financial situation. Personally, the crisis increased my family’s sense of urgency around updating our estate plan, which had been left unattended over the past several years. What made this act more valuable was, that unbeknownst to us, I would be hospitalized with COVID and resulting pneumonia just a month after finalizing.
Perhaps the pandemic spurred you to take similar actions. What other changes or ‘updates’ might your personal situation require? Among them, have you considered reexamining your personal insurance coverage? Have your agent and your insurance program kept pace with your evolving lifestyle?
Consider the following:
Maybe the pandemic has created additional exposures (like these) that, under normal circumstances, you would not have considered. If so, your property and casualty insurance policies likely need adjustments to your ‘new norm.’ Further, if you work with an experienced risk advisor, this should be part of their regular dialogue with you.
We encourage you to take this time to protect your financial future by investing in a comprehensive insurance analysis and program. Partnering with an experienced risk advisor will help eliminate gaps in coverage, protect your assets from being impacted due to a loss, and, most importantly they will act as your ‘advocate’ during an unfortunate loss.
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