Reset and Refocus
As we continue to move through the new year, it’s the perfect time to reset and refocus, not just personally, but professionally as well. In the insurance industry, the start of the year offers a valuable opportunity to reassess and make adjustments that can set you up for success over the next 12 months.
One of the most effective steps you can take is to conduct an annual policy review. This ensures that your coverage aligns with any significant life changes. Whether you’ve purchased a new home, added a vehicle or expanded your family, updating your policies guarantees you’re adequately protected. It’s surprising how often policies become outdated simply because of overlooked details.
Another key task is to update beneficiaries. Life evolves quickly, and forgetting to update this information can lead to complications down the road. By making this a priority, you can safeguard your loved ones and avoid unnecessary stress during already difficult times.
This is also a great time to perform a risk assessment. Personal and professional circumstances change, and so do potential risks. By identifying gaps in coverage, you can proactively address vulnerabilities before they become costly problems.
While reviewing policies, consider discount opportunities. Many insurers offer discounts for bundling policies, improving home security or even maintaining a strong credit score. A little effort spent investigating these options can yield significant savings over the course of the year.
Additionally, it’s important to focus on emergency preparedness. Does your current policy adequately cover natural disasters, theft or other unexpected events? Updating your emergency plan and ensuring you have the right protection in place can provide peace of mind.
Finally, for those managing health insurance, this is a prime time to focus on health and wellness. Scheduling annual check-ups, reviewing health plans and exploring wellness programs offered by insurers can lead to better health outcomes and potential savings.
By taking these proactive steps, you can proceed with confidence, knowing that you are well-prepared for whatever lies ahead. Contact our team today to discuss your insurance needs for the upcoming year!
Scott Sleightholm, CAIB, R.I.B.(Ont.), Vice President, Kenny Insurance Brokers
