What’s the Right Time to Review Your Insurance Coverage?
- Adam Overmyer
- 2 days ago
- 3 min read
Most people don’t think about their insurance until something changes—or something goes wrong. A premium increase, a claim denial, or a non-renewal notice is often the first time a policy gets a second look.
At Overmyer Insurance Agency, we encourage clients to take a proactive approach. Insurance isn’t a “set it and forget it” product. As your life, property, or business evolves, your coverage should evolve too.
So when is the right time to review your insurance coverage? Let’s walk through it.
The Short Answer: At Least Once a Year — and Anytime Life Changes
As a general rule, you should review your insurance coverage at least once a year. Even if nothing major has changed on your end, insurance companies routinely adjust:
Rates and pricing models
Coverage forms and exclusions
Underwriting guidelines
A yearly review helps ensure your policies still reflect reality—not assumptions made years ago.
Key Times You Should Review Your Insurance Coverage
1. At Renewal Time
Renewal is the most natural time for a review. This is when:
Premiums change
Coverage terms are updated
Discounts may be added or removed
A quick review before renewal can often prevent surprises and identify better options.
2. After Major Life Changes
Insurance should always be reviewed when your responsibilities change, such as:
Marriage or divorce
A new driver in the household
A child leaving for college
Retirement or working from home
These events can affect liability exposure, coverage needs, and eligibility for discounts.
3. When You Buy, Sell, or Improve Property
Any change involving property should trigger a review:
Purchasing a home or second property
Selling a home
Renovations, improvements, additions, or finished basements
If you’re specifically a homeowner, we go much deeper into this topic here:👉 When Was the Last Time You Looked at Your Home Insurance Policy?
That guide focuses entirely on dwelling coverage, rebuilding costs, and common homeowner gaps.
4. When You Purchase a Vehicle or Change How You Use It
Auto insurance should be reviewed when:
You buy or lease a new vehicle
A teen driver is added
Your commute or usage changes
A vehicle is used for business purposes
These changes can impact both coverage and pricing more than people realize.
5. If Your Premium Increases or You Receive a Non-Renewal
A premium increase without a clear explanation is a strong signal to review your coverage. The same applies to non-renewal notices.
In many cases, the issue isn’t you—it’s a change in underwriting rules. An independent agency can often find better-fitting options.
6. When Your Business Grows or Changes
Business owners should review insurance when they:
Hire employees
Add vehicles or equipment
Expand services or locations
Sign contracts requiring insurance limits
Outdated business insurance can create serious coverage gaps, especially with liability and workers’ compensation.
A Simple Insurance Coverage Review Checklist
Here’s a quick way to tell if it’s time for a review:
Do my coverage limits still make sense?
Is my property insured to proper replacement cost?
Are all drivers, vehicles, and locations listed correctly?
Do I need higher liability limits or an umbrella policy?
Am I paying for coverage I no longer need?
Have better policy options become available?
If you’re unsure about any of these, a review is worth your time.
Why Work With an Independent Insurance Agency?
As an independent agency, Overmyer Insurance Agency isn’t tied to just one insurance company. That allows us to:
Compare multiple carriers
Adjust coverage as your life changes
Explain why your premium or policy changed
Advocate for you at renewal and during claims
Our goal is long-term protection, not one-time transactions.
Frequently Asked Questions
How often should you review your insurance coverage? At least once a year, and anytime you experience a major life, property, or business change.
Does reviewing insurance mean switching companies? No. Many reviews result in simple updates to an existing policy.
Is there a cost to review my insurance?No. Policy reviews with our agency are complimentary.
Can reviewing insurance save money? Often yes—but more importantly, it helps prevent coverage gaps.
Ready for an Insurance Coverage Review?
If it’s been a while since you last reviewed your insurance—or you’re not confident your coverage still fits—now is the right time.
👉 Schedule a complimentary insurance review with Overmyer Insurance Agency.We’ll help you confirm your coverage, identify gaps, and make sure your insurance keeps up with your life.
Your Indie Agent,
Adam Overmyer
908-476-8685