How often have you changed jobs, homes or cars and forgotten to let your insurer know? This is an important consideration whenever there is a big change to your assets or routine. Some of the major changes that you need to let your insurer know about are listed below.
Whether you move office or home, it is critical you make your insurance provider aware of this move before it takes place. Change of address could result in an increase or decrease in your monthly premium. Building structures, security, and area all have an impact on rating, terms, and conditions, etc.
If your car becomes a business tool as opposed to just a means of transport to and from work, then your insurance may change. Let your insurer know of any changes in the use of your vehicle.
You may have insured your car with yourself as the primary driver, but what if someone else begins to regularly drive your car? If you don’t inform your insurance company about this change, and someone else has an accident in your vehicle, your insurance company may not pay for your claim. It is critical that you insure your car for multiple drivers if this is the case.
These are just some of the changes that should be brought to your insurer’s attention. By not updating your insurance provider with any important changes or information, you could put yourself at risk of not being covered in the event of something happening to your assets. Rather be safe and let your insurer know even the smallest details, like installing a security gate on your front door – the more details the better.
Contact us to talk more about personal and business insurance.
“The article should not be considered legal or financial advice and is for information purposes only. You should consult with a professional financial advisor to determine what may be best for your individual needs.”