Personal or business changes can be unexpected and even stressful. When you get married, move to a new home, move your business, etc., you may not remember to tell your insurance agent about the change. This is understandable, but could leave you without coverage and create a significant risk.
You should inform your agent of any major life changes that could affect your insurance. Depending on the specifics of your policy, if you do not inform them of the change, the company may be able to deny a claim if something should occur. Good examples of changes you should report:
A Change in Name:
If you get married and change your name or change your name for other reasons, tell your insurance agent right away. Your car, home, renter’s, life, business, etc. agents should all be updated. If your new name is not the name on the insurance contract, claims may not be paid.
A Change in Corporate Structure:
If you have a business with business insurance or health insurance, you need to update your insurance agent about name changes. This also applies when you change the structure of your business. For example, if you change your business from a sole proprietorship to a corporation, you need to inform them because your insurance may also need to change.
A Change in Address:
Insurance agents must know where to find you and your policy is directly linked to your address, especially with auto, home, renter’s or business insurance. If anything happens to your things in the process of moving or right after you’ve moved, you may be denied coverage and would be left covering all of the expenses yourself.
Don’t give your insurance company a reason to deny you coverage. Keep your agent updated at all times in order to avoid claim problems. Contact us today if you are not certain we’ve been updated about changes in your business or personal situation – it’s a quick to call to put you at ease!
Ranjeet Mundhra
Life Mitra
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