Insurance Check-Up: A smart use of your holiday downtime

The Christmas break is a perfect time for tackling tasks that often fall by the wayside during a busy year. 

One of the most overlooked yet impactful chores you can check off your list? Reviewing your insurance policies. 

An “insurance check-up” helps ensure your coverage aligns with your current needs and that you’re not overpaying for protection.

Why review your insurance?

Life evolves, and your insurance should keep pace. Perhaps you’ve moved, changed jobs, acquired new assets, paid off debts, or experienced significant life changes like marriage or the birth of a child. 

These and all kinds of other changes in circumstances can affect the type and amount of coverage you need. Failing to update your policies could leave you underinsured or paying for coverage you no longer need.

Plus, you should you never auto-renew – just running a comparison can save you money, allowing you to haggle with your current provider. So always check if you can get a cheaper policy elsewhere.

What to look for during an insurance check-up

The insurance market is competitive, with new discounts and plans introduced regularly. Just running a comparison can lower your costs – so even if you don’t end up switching, shopping around is worth it, just to see how much you can lower your current rate. 

A review could reveal that you’re missing out on significant savings – here are some key things to think about when reviewing different kinds of insurance you have.

Motor Insurance

• Are you driving less due to remote work? Consider usage-based or low-mileage plans.
• Things like your address or profession can impact your premiums – have a go at running a comparison with the most up-to date information about your circumstances. (Check our tips on what can drive down the cost of your motor insurance).
• Are there new discounts for bundling, safe driving, or loyalty?

 Compare car insurance quotes with Quotezone.

Home Insurance

• • Has the value of your property changed? Update your coverage to reflect this change. 
  • Has the value of your contents changed – are there any items like electronics that you should ensure is covered by your contents insurance?
  • Are you covered for natural disasters or other risks specific to your area – such as storms or floods?
  • What isn’t covered by your policy – this will help you know whether you need a separate policy for your pets, bikes or boiler.

Quotezone Home Insurance Comparison Tool can help if you need to compare the best deals on contents and building insurance.

Health Insurance

• • Have your needs changed? Review your deductible and co-pay options to ensure your plan suits your medical requirements.
  • Check for new policies that better match your needs if open enrollment is still available.
  • Have you got any trips planned – make sure that you’ll be covered in the case that you fall ill overseas. 

Travel Insurance

• • How long will your current policy last? Set a reminder to renew or purchase a new policy if it will run out before your next holiday,
  • Have you got a big trip planned? Check that activities you may do – like scuba diving or horse riding – will be covered.

If you’re looking for a new policy, check out Quotezone Travel Insurance Comparison Tool to find the right deal for you. 

Life Insurance 

• • Are your beneficiaries up to date?
  • Do you have adequate coverage for your family’s needs?

Pet Insurance

• • Do you have adequate coverage for your pets changing needs? Think about age or new health conditions that may require further treatment later down the line. 
  • Is your policy affordable? Check our guidance on the different kinds of plans and striking the balance between excellent cover and affordability.
  • There’s quite a lot of variation with vet fees – do you know what your vet charges and whether your insurer are willing to cover them?

 Resolver can help you sort out complaints about pet insurance, vets and every pet service you can imagine

Tips for Switching Policies

If your review reveals you’re overpaying or underinsured, shopping around for new coverage can yield better options.

According to Which?, letting your car insurance auto-renew could cost you up to £388 a year. So even if you don’t end up switching insurers, getting quotes from others could help you save money through haggling.

Start by requesting quotes from reputable insurers and comparing not just premiums but also coverage, deductibles, and customer reviews. Many providers offer digital tools that make this process simple and efficient.

Final Thought

An insurance check-up doesn’t take long but can save you money and provide peace of mind. Set aside some quiet time during your holiday break to review your policies and shop around. This small investment of effort ensures you’re well-prepared for the year ahead.