It’s not your father’s Oldsmobile
That was the tag line from a General Motors commercial a few years ago. The point of the ad was that things change and the car was current & had all the new features.
You change and your life changes. Many people buy car insurance from the place their father bought his coverage when they buy their first car and never change the coverage. And then they buy the homeowner coverage from the same place, and never change it.
But you may have changed a lot~! When you bought your first car you were probably in your late teens or early 20’s and just starting out. Since then, you may have moved up in the job field, married, had children, bought a home, remodeled or renovated the home – a lot changes in a few years! And the protection provided by your insurance needs to keep up! Did you even know that there are “new features” or on insurance terms, “endorsements” that offer coverage for risks you may not have even thought of a few years ago? It’s a good idea to have a conversation with your insurance agent every few years so your coverage can be adjusted to meet your current & expected needs.
In some cases, the agent your dad trusted may have sold the business & it’s now a different person or an 800#. A few years ago, some agents would sell minimum liability limits to young people, since they thought “hey, they don’t have much to lose.” But things have changed, you have more at risk (even in the case of a young person, courts can attach future wages!).
So if it’s been awhile since you’ve had a conversation with your agent, take a few minutes to answer the survey or speak to the agent. And if your agent hasn’t tried to contact you to find out what you need, you may want to consider finding a new agent!
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