Why You Should Review Your Insurance Costs Every Six Months

When was the last time you reviewed your insurance policies? If you’re like many people, it might have

been when you first signed up—possibly years ago. But as life changes, so do your insurance needs.

Conducting a semi-annual review of your insurance costs can help you stay protected, uncover better

coverage options, and even save money.

Let’s explore why this simple habit is so valuable and how it can benefit your financial well-being.

1. Your Life Changes—So Should Your Coverage

Major life events like getting married, having a baby, buying a home, or changing jobs can

dramatically shift your insurance needs. Even smaller changes—like a teenage driver getting their

license or paying off a car loan—can affect your coverage requirements.

A semi-annual insurance review helps you align your policies with your current life stage. That way,

you’re not underinsured—or paying for coverage you no longer need.

2. Insurance Markets Are Always Evolving

Rates fluctuate. New discounts become available. Insurers update their offerings and underwriting

guidelines. Reviewing your policy twice a year gives you the opportunity to shop around and compare

your current plan with what competitors are offering.

You might discover:

• A bundle discount you didn’t qualify for before
• Lower rates due to improved credit
• Loyalty perks or telematics programs for safe drivers

3. Avoid Surprise Gaps in Coverage

One of the most important reasons to review your insurance is to ensure your coverage is still

adequate. For example:

• Has the value of your home increased?
• Did you purchase new jewelry, electronics, or art?
• Have you started a side business from home?

Failing to adjust your policy accordingly could leave you with gaps that might be costly in a claim

situation.

4. It Can Lead to Real Savings

By regularly reviewing your insurance costs, you could find opportunities to reduce premiums while

still maintaining—or even improving—your coverage. You might:

Raise deductibles to lower premiums

Remove optional coverages you no longer need

Qualify for new discounts based on age, driving history, or job

Small adjustments like these can add up to significant annual savings.

5. How to Conduct a Semi-Annual Review

Here’s a quick checklist to help you get started:

• Gather your insurance documents (auto, home, life, health, etc.)
• List any major life changes since your last review
• Check your coverage limits and deductibles
• Compare quotes from other insurers or work with an independent agent
• Ask about available discounts or policy bundling
• Update your beneficiaries if applicable