When was the last time you reviewed your insurance plan with a professional? Have you had any recent, significant changes in your life? Periodically, you should look over your insurance plan, because as your life changes, your insurance plan should change with it. At Freedom Insurance, we’ve been helping Marylanders adjust their insurance plans for a while and wanted to talk about how you can know if you’re underinsured.
Has Your Family Grown?
If you’ve recently added a new family member, be it a new spouse or child, then you’ll need to adjust your insurance plan. When you have more people depending on you, it can feel like a great burden. Many people find they sleep better at night knowing they have a strong life insurance plan protecting their family should disaster ever strike.
Any Changes in Income?
Every insurance plan is different and should be crafted specifically for you and your family. Your insurance plan should reflect your level of income, so if you have a change in income, it may be time to change your insurance plan.
An increase in income means you’re likely going to want to increase your coverage, while a decrease in income may mean cutting and consolidating your insurance may be a good route. Either way, it’s best to discuss your options with an experienced Maryland insurance agent.
Do You Have Any Debt?
Typically, when you take on debt like student loans, mortgages, or medical bills, you’ll need a cosigner. If something happens to you, making you unable to pay for your loans, your cosigners could be required to pay for them. Insurance can help cover your debts, so be sure to tell your insurance agent about any outstanding debts you have.
Consult With a Professional Insurance Company in Maryland
If you’re thinking about adjusting your insurance policy, you need to consult with an experienced insurance agent in Maryland. Our team at Freedom Insurance is standing by, ready to answer any questions you may have and eager to meet with you! Get into contact with us, or stop by our office in Eldersburg today!
