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June 2026

Is Your Coverage Matching Up?

Use the four ‘R’s to check your coverage and make sure your policy fits your lifestyle.

Summary

  • National Insurance Awareness Day is in June which is a great remider to review your insurance policies.
  • Think about major life events, like having a baby, and local risks, such as hurricanes risk in Florida or earthquakes in California, as these could affect your insurance needs.
  • Checking your insurance once a year helps keep you and your loved ones safe and makes it easier to spot coverage gaps.

National Insurance Awareness Day is during the month of June. This is more than just a note on the calendar; it's an important reminder to take some time to review your insurance coverage and ensure it truly serves you and your loved ones. 

Consider whether your policy adequately covers that cool collector car in your driveway, the new piece of high-end jewelry you got for your birthday, or your recent role as a board member for your favorite nonprofit. 

This review is for everyone whether you own 13 properties around the world or just a single apartment in downtown Miami. It’s all about personalizing your coverage to match your lifestyle.

Let's be honest: many of us adopt a "set-it-and-forget-it" mindset when it comes to insurance. However, this common approach can leave us with policies that don't reflect our current needs or the risks we face. Use National Insurance Awareness Day to bring your coverage to the forefront of your financial planning with the four R’s: 1. regular reviews, 2. risk management, 3. right questions, and 4. reflection.

1. Regular reviews

Insurance isn’t a “set it and forget it” situation! Think about it: your life, home, car, and even your community are constantly changing. Whether it’s rising property values, adopting a new cat, or renovating your bathroom, your coverage needs to adapt to these changes.

Some key times to review your policies include when they come up for renewal, during major life events like buying a house or welcoming a new child, and each year around National Insurance Awareness Day. By using these moments as reminders to review your policies, you can help ensure your coverage aligns with your current lifestyle and protection needs.

The good news is that this doesn’t always mean making drastic changes. In some cases, you may find that no changes are necessary at all; it’s simply confirming that your current coverage reflects your life as it is now.

2. Risk management

Proactive risk management is essential. Many people discover gaps in their coverage the hard way—after a storm has damaged their home or an accident has happened. National Insurance Awareness Day encourages us to take a step back and assess potential risks before they become a reality. This gives you the opportunity to make any necessary adjustments to your coverage. It’s also an opportunity to review common exposures and make adjustments. When was the last time the washer machine water hose was checked to ensure its integrity and is properly connected? As a homeowner, you can also go a step further and look for ways to better safeguard and fortify your home from perils and weather in your region with risk mitigation tips. Check out our mitigation tips.

3. Right questions

So, what should you be asking during your insurance review? Here’s a list of questions to get you started:

  • Are your coverage limits still appropriate for your current situation?
  • Have your policies been updated to reflect any lifestyle changes or major purchases?
  • Has your policy evolved with your risk tolerance?
  • If the unexpected happened, would your coverage provide the support you need?
  • Are there any gaps between your policies (home, auto, umbrella, valuables) that could leave you exposed?
  • Do you have enough liability coverage, and would an umbrella policy help reduce your out-of-pocket risk?
  • Are your deductibles set at a level you could comfortably cover on short notice?
  • Have you added or sold any high-value items (jewelry, art, collectibles) that require an update to your valuable articles schedule? Additionally, when was the last time your collection was reappraised?  
  • Are the replacement-cost values for your home and personal property up to date, considering current construction and labor costs?
  • Do you understand what your policy excludes (water backup, flood, earthquake, wind/hail, cyber), and do any exclusions need to be addressed?
  • Are all drivers, vehicles, and usage patterns accurate (commute changes, teen drivers, rideshare, business use)?
  • How has your claims history or local risk profile changed, and what does that mean for your premium and underwriting?
  • If you had to file a claim, do you know the process, what documentation is needed, and how long reimbursement typically takes?

This list of questions is extensive and a good starting point, but if you would like our guidance, our team is here to assist. The best place to start is with a Discovery Call.

4. Reflect on life changes

Take a moment to consider what’s changed since your last review. Have you recently started a new job, moved, or experienced a significant life event? Each of these milestones could impact the type of coverage that’s right for you.

If you’ve bought or sold a home, renovated your space, or added features like a pool or finished basement, it’s essential to update your homeowner’s insurance accordingly. These changes may influence rebuilding costs and your coverage needs in case the unexpected happens.

Family changes are another important factor in evaluating your insurance. If you’ve tied the knot, welcomed a new baby, or are preparing to send a child off to college, these life events often create a need to reassess your coverage. Additionally, receiving an inheritance or setting up a trust also warrant  a coverage analysis. Even factors like an aging parent moving in or a teenager starting to drive should prompt you to rethink your policies.

It's not just the big events that matter; even subtle changes could impact your coverage in meaningful ways.

Common coverage misconceptions

There are several misconceptions to watch out for when it comes to your insurance policies, from assuming your standard policy covers flooding to not accurately gauging rebuilding costs.

First, don’t assume your insurance limits are keeping pace with the real estate market. Rising costs of labor, materials, and new building codes can all impact the cost of rebuilding a property.

Second, regional risks and severe weather events are on the rise across the U.S. If you live in an area prone to hurricanes, wildfires, convective storms or earthquakes, take a close look at your policy to see what it covers. Don't assume your standard policy will cover these types of risks.  If you want to go a step further, consider making resiliency upgrades to help your home withstand these threats.

Third, make sure you have flood coverage in place, even if you don't live directly on the coast. Inland flooding is common and may occur due to drainage issues, heavy rain, and other factors. According to the Federal Emergency Management Agency (FEMA), “Floods can happen anywhere; most homeowners insurance doesn’t cover flood.” All it takes is one storm, and over 40% of flood insurance claims come from outside high-risk flood areas, according to FEMA. Flood coverage isn’t automatically included in standard policies. The National Flood Insurance Program (NFIP) and various private policies are available, so take the time to find the right fit for your situation.

Request your review

Join us in celebrating National Insurance Awareness Day by taking the time to ensure you’re fully protected, understand your coverages, and make any necessary changes to match your evolving lifestyle. Your future self will thank you! If you need help, our team is here to provide a personalized risk review. Just reach out.

Request an insurance review with an experienced Personal Risk Advisor to ensure you're adequately insured for whatever life may bring.

Request Review

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