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As we journey through life, our circumstances and responsibilities evolve, bringing about changes in our insurance needs. To ensure you have adequate coverage at every stage, it’s important to consult with your insurance broker when you experience any of the following life events:

New Home Ownership

Purchasing a new home is a significant milestone and a substantial investment. Protecting this asset is crucial. Homeowners insurance safeguards your property against risks such as fire, weather damage, theft, vandalism, and accidental damage. This protection is equally important if you’re buying a condo or a vacation home. Ensuring that you have comprehensive homeowners insurance will help protect your investment from unforeseen events.

Home Renovations

Once you own a home, you might decide to undertake renovations to improve your living space. Major home improvements can increase the value of your property. It’s essential to inform your insurance company about these upgrades. Reporting significant changes ensures that your insurance policy reflects the increased value and provides adequate protection for your enhanced home.

New Children

Welcoming a new child into your family, whether through birth or adoption, is a momentous occasion that brings joy and new responsibilities. It’s also a major financial commitment. Ensuring the security of your child’s future is paramount. Update your life insurance policy to include your child as a beneficiary, and evaluate whether your coverage is sufficient to support their needs in the event of an unforeseen circumstance.

Teenage Drivers

As your children grow, they may reach the age where they start driving. Teen drivers are statistically at higher risk for auto accidents. To safeguard against potential financial impacts, consider adding your teen driver to your existing auto insurance policy. This approach is generally more cost-effective than purchasing a separate policy and ensures they are adequately covered while driving.


Retirement marks a significant transition and often involves changes in your living arrangements. If you own multiple homes, it’s important to inform your insurance provider about where you will primarily reside. This allows your coverage to be appropriately adjusted, ensuring each property is adequately protected based on your new lifestyle.

Valuable Purchases

Acquiring valuable items, such as jewelry, artwork, or collectibles, can significantly increase the worth of your personal property. Standard homeowners policies typically have coverage limits for high-value items. To protect these valuable purchases or gifts, consider purchasing a floater policy. A floater provides additional coverage that exceeds the limits of your standard policy, ensuring these items are fully protected.


Marriage brings together not only two lives but also combines households, vehicles, and other assets. Updating your insurance policies after getting married is crucial. Combined coverage can often result in cost savings, such as discounts on car insurance for married couples. Additionally, life insurance becomes even more vital to provide financial security in the event of an untimely death of a spouse.

Purchasing or Selling a Business

For entrepreneurs, buying or selling a business is a major life event that requires careful consideration of insurance needs. Proper coverage during these transitions is crucial to protect against potential liabilities and ensure the continuity of your business operations.


Insurance is a critical component of financial planning at nearly every stage of life. Your insurance needs are dynamic and change as you experience different life events. Regularly reviewing and updating your insurance policies with the help of your broker ensures that you remain adequately protected. Contact your insurance broker today to discuss how these life events might affect your coverage and to tailor your insurance to your evolving needs.