15 Life Changes To Tell Your Tennessee Insurance Agent About

Life doesn’t stop after you get insurance coverage. Maybe you finished a basement, bought a cabin in the Smokies, or inherited your grandparents’ antiques. Perhaps your teenager is heading off to UT or you’re starting a new business. You’ll need to adjust your insurance to match your new circumstances.

Here are 15 life events that should prompt a call to your insurance agent:

1. Getting married or divorced: Many insurance companies offer multi-car and bundling discounts. If you’re getting married, consider scheduling your wedding and engagement rings, since they’ll probably exceed the jewelry theft limit in a standard policy. Combine your home inventories and review your personal property limit. If you’re going through a divorce, let your agent know, update name changes, and review your life insurance beneficiaries.
2. Buying, renting or moving to a new home: Make sure your dwelling limit is high enough to cover the cost to rebuild, which has climbed across Tennessee. Ask about flood and earthquake coverage too, since neither is included in a standard policy. Even if you rent, a renters policy covers your belongings and adds liability protection.
3. Purchasing a car: Call your agent with the year, make, model, and VIN when you buy a vehicle. Your rate can change significantly depending on the vehicle.
4. Becoming a business owner (even a home-based business): Homeowners policies offer very little coverage for business activity. If you use your car for business, see clients at home, or store inventory at home, you’ll likely need more coverage. Ask whether a business owners policy (a “BOP”) is right for you.
5. Doing home renovations: Finishing a basement, adding a room, or remodeling a kitchen can leave you underinsured. Higher home value may require higher coverage limits.
6. Having a new teen driver: When your teenager gets a learner permit or license, they need to be properly insured. Tennessee’s intermediate license limits late-night driving and passengers for new drivers. Ask about good-student and driver training discounts.
7. Acquiring something expensive: Anytime you inherit or buy something valuable, review the contents coverage on your policy. Also compare the cost of an umbrella policy for extra liability protection ($1 million or more) over your home and auto.
8. Heading off to college: If your student is moving into on-campus or off-campus housing, review your policies to make sure their belongings and car are covered.
9. Installing a security or smart home system: Security systems deter theft, and water shut-off valves can prevent major water damage. Ask your agent about discounts.
10. Switching mortgage or auto lenders: If the wrong lender is listed on your policy, it can delay claim payments or premium billing.
11. Driving less: Working from home or ending a long commute reduces your mileage, and many carriers offer lower rates or usage-based discounts for drivers who drive less.
12. Buying a second home: Whether it’s a cabin near Gatlinburg or a lake house on Norris or Douglas Lake, don’t skimp on insurance, especially if the home sits empty or is rented to visitors. Short-term rentals need their own coverage.
13. Traveling internationally: Your U.S. auto policy generally doesn’t cover you if you drive in other countries, and some countries require local coverage. Check before you go.
14. Having your identity stolen: If you’ve been the victim of this kind of crime, consider identity theft or cyber coverage to protect your family in the future.
15. Retiring: Your annual mileage may drop significantly once you stop commuting, and some carriers offer other discounts for retirees.

Don’t forget to keep your insurance agent in the loop as your circumstances change. We’ll help you protect what’s important to you!