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Personal Insurance Review: Get the Right Coverage for Your Needs

No matter what your stage of life – new career, kids at home, empty-nester or retiree – you likely have different types of insurance to provide financial protection for your loved ones.

Just as life changes, so too does your need for insurance. In some situations, you may need additional insurance while in others, you may be able to reduce your coverage and save some money.

What sort of life changes would cause you to make adjustments to your insurance? Here are some of the more common milestones:

New child – You'll likely need adequate life insurance. In the event of your untimely death, your children could live comfortably and would have the funds available for college or other education.

Empty nest – If your children are grown and living on their own, you may be able to save money by removing them from your auto insurance policy.

New house – If you move to a new home that’s worth more – or less – than your old one, you may need to adjust the amount of life insurance you have so that your family could have funds to help pay off the mortgage. You may also need to adjust your homeowners insurance to reflect the value of your new home. If your new home is smaller or less expensive, you may be able to save money with a smaller homeowners insurance policy.

New use of your home – If you open a small business in your home, you may need business insurance.

Additions to your home – If you've remodeled your home, you may need to upgrade your homeowners insurance to reflect additional value.

New spouse – If you're newly married or if you remarry, you may need to change beneficiary designations on your life insurance documents.

Personal possessions – If you've purchased – or sold – items of significant value, such as jewelry, art or furniture, you may need to increase or decrease the coverage in your homeowners insurance.

Recreational vehicles – If you’ve purchased a recreational vehicle, you may need boat, motorcycle, ATV or motor home insurance. If you’ve sold any such vehicles, you can cancel the coverage and save money.

New car – If you buy a new car, you may need to adjust the amount of auto insurance you have to cover the cost to repair or replace your vehicle. If your auto is an older model, you may want to remove comprehensive and collision coverage, which could save you money.

New teen driver – If you are about to add a teenage driver to your auto policy, consider the Teen Safe Driver Program, free to American Family auto insurance customers. In-car and online technology let your teen and you (but not American Family) observe risky driving behavior and learn how to correct it.

Liability protection – No matter what you do or what you own, don’t let an unexpected accident or lawsuit put your possessions and savings at risk. Protect yourself and your family with inexpensive personal liability umbrella insurance, which adds to your auto and home liability insurance. 

If you experience one or more of these life changes, or have questions about your current insurance protection, contact your American Family Insurance agent to schedule a Personal Insurance Review.


American Family Mutual Insurance Company : American Family Insurance Company : American Standard Insurance Company of Wisconsin : American Standard Insurance Company of Ohio
6000 American Parkway, Madison, WI 53783
Life insurance and annuities are underwritten/offered by American Family Life Insurance Company,
6000 American Parkway, Madison, WI 53783

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