Having all insurance up to date is important to avoid unpleasant surprises or misunderstandings in the event of a claim. Since a policy is contracted, the circumstances of the contract may have changed and, therefore, it is possible that some agreed clauses may cause the result in the event of a claim to be different than expected.
To help you avoid compromising situations, here is a guide to know if you have all your insurance up to date:
Insurance of the home
In home insurance, it is important to check several things. The first thing is that the address of the home is correct since it can change in the event of a move. Next, the most important thing is to review the values covered in the event of a claim, to see if they correspond to the real insured value, since the maximum insured capital represents the maximum compensation to be received in the event of a claim.
For example, in the insurance of the contents of the house, it is necessary to check if the value of the inventory provided in its day to the insurance company to sign the policy is up to date. In case it is not, you have to assess the difference and if it is substantial, you have to contact the company to update it. In the case of mainland insurance , it is necessary to assess whether the home has been completed with works and reforms that make it increase in value and, therefore, require updating the insurance to respond to the value of the insured property.
If the insured values are not updated, in both types of insurance what is called an underinsurance situation could occur , which means that in the event of a claim the beneficiary would receive an amount adjusted to the real value of the insurance, based on the value of the insurance. inventory or housing. And conversely, if the insured value is higher than the real value, we will be paying a higher premium unnecessarily.
Insurance of the car
When you buy a car, it sometimes happens that you take out compulsory car insurance and then renew it every year without paying too much attention to the policy year after year, paying more attention to the price. When the price of insurance decreases, it may be because bonuses are obtained or also because the risks covered and the compensation to which they are entitled in the event of a claim are reduced.
Therefore, the car insurance must be reviewed to know in detail the details of the risks covered and the compensations agreed in the policy. In addition, when a new driver is incorporated into the family, it is necessary to see what the policy contemplates in this regard and act accordingly (add him as an additional, occasional driver, etc.). In some cases, you may have to pay a little more for the insurance each year , depending on the profile of the new driver to be added.
It can also happen the opposite, that the driver at an age is no longer a risk profile and, therefore, the policy is cheaper.
Sure of life
In life insurance, it is also advisable to review the policy to assess whether the capitals covered are up-to-date and respond to the life expectancy that the beneficiary could have in the event of the death of the insured.
In addition, from time to time it is convenient to review the insured facts to assess whether they make sense with our current risk profile. For example, if you have additional life insurance as compensation for working in a company, you can adjust the capital downwards to pay less for personal insurance and thus ensure that the two insurances complement each other and pay a good compensation in the event of a claim.
Self – employed insurance
Self-employed insurance helps to cover the risks that endanger the activity of the self-employed worker. Being your own boss is something that many people want, but that means you have to be prepared so that accidents and illness are not a problem.
From time to time you have to review the self-employed insurance policy and check that all the risks of the activity are covered. Business changes over time and insurance must adapt to cover the most important ones. You have to be careful not to do this follow-up, since all the risks that the professional thinks might not be covered and in the event of a claim, you may be in serious trouble.
Insurance of health
Health insurance is one of those that should also be reviewed to know well the scope of the policy and to know what risks are covered. Many times, a long time passes between when the health insurance is contracted and it is needed for an important benefit, beyond a minor issue, such as the flu, the insured forgetting that they may be entitled to benefits such as a second opinion in a health center. world reference, to the reimbursement of expenses in medicines and medical consultation, among others.
Therefore, health insurance, like other insurance, is another one that you need to review and if you have not done so in the last six months … fly!
Reviews extra for the insurance
To complete an insurance review, it is not enough to review the policy and adjust some parameter. You also have to review the payments made and check that all have been carried out according to the established plan.
If you are not aware of the insurance payment, you could lose the right to compensation in the event of a claim , so when in doubt or a non-payment, it is best to contact the company to clarify the situation and avoid misunderstandings.