A new year is a fresh start. You might be setting goals, reviewing your budget, and getting organized. It is also a smart time to take a quick look at your insurance. Many people buy coverage once and do not think about it again, but life changes fast. A short review can help make sure you are protected, not paying for things you do not need, and not missing something important. 

Why it is worth reviewing 

Insurance is there to help you recover when something unexpected happens. The problem is that your policy can become outdated without you realizing it. Maybe you moved, bought a new car, renovated, or your family situation changed. Even if nothing major happened, prices and coverage options can shift year to year.  

A review can also help you save money. Sometimes you can lower your cost by bundling policies, updating information, or adjusting small details. The goal is not just to find the cheapest option, but to ensure you get good value and the right fit. 

When you should review your coverage 

The start of the year is a great reminder, but there are a few other times when it makes sense to check in: 

• You moved: A new neighbourhood, different home type, or different commute can affect what you need. 

• You renovated or upgraded your home: Big updates like a new kitchen, finished basement, or new roof can change the value of what you are protecting. 

• You bought something major: A new vehicle, expensive electronics, or new furniture can be worth mentioning. 

• Your family changed: Marriage, separation, a new baby, or kids leaving home can affect what makes sense for your coverage. 

• Your work situation changed: If you started working from home, changed jobs, or started a side business, it is worth checking that you are covered properly. 

• Your policy renewed: Renewal is a natural time to ask a few questions and make sure everything still matches your life. 

What to check without getting complicated 

You do not need to be an insurance expert to do a simple review. Here are a few easy things to look at: 

• Is your information still correct? Address, number of drivers in the household, how you use your vehicle, and any major changes at home. 

• Do you have enough coverage? Think about replacement, not just what you paid. If you had to replace everything after a major loss, would it be enough? 

• Does anything feel missing? If you have gained more to protect over the past year, you may need a small update. 

• Are you paying for something you no longer need? Sometimes old add-ons stay in place even after life changes. 

• Are there discounts you might qualify for? Bundling, safe driving, security systems, or other updates can sometimes help. 

A simple habit that can prevent big surprises 

Reviewing your insurance once a year is one of those small habits that can make a big difference later. If you are unsure what to look for, a quick conversation with an ICD insurance broker can help confirm you are on the right track and give you peace of mind going into the year. Call us at 905-830-9000 or contact us for more details. 
 
Disclaimer: At ICD Insurance, we aim to provide accurate, up-to-date information. However, insurance needs vary, and coverage depends on specific policies, locations, and providers. This content is for general information only and may not fully apply to your situation. Please contact your ICD Insurance broker to discuss your specific needs and coverage.