Monday, February 2, 2015

Insurance Training Reviewing Your Property and Casualty Insurance Policy

Insurance Training Career Development
Reviewing Your Property and Casualty Insurance Policy

To put it simply, an annual review of property and casualty insurance policies is necessary because insurance coverage and personal situations are constantly subject to change. This is the perfect time to start a tradition to review your policy(ies) every year to make sure that your coverage is best suited to your ever-changing needs. You should have a property and casualty insurance whether you own a property or not. Your coverage requires maintenance to address the changes that occur during the year. It is my job to determine how these changes affect your coverage.

Did your household demographics change?
If there are changes to the number of licensed drivers in your household from the time when your present policy was assessed, then your coverage must reflect this change.
Did your situation change in such a way that affects your deductible?
If you can increase the payment of your premium, then you can reduce the amount of your deductible.
Did the factors that affect your rates change (aside from your driving records)?
The value of your vehicle?
Your credit history ?
Your civil status? 
Your age ?
How much you drive and the distance you travel on a regular basis?


It is in your best interest to insure your residence, whether you own it or not. Generic coverage for homeowners usually includes the dwelling and other structures on the property. It protects policyholders from situations that would prohibit the owner from using the property. Fire, theft, and certain weather conditions are common examples.

Considering the fact that certain situations are unpredictable, reassessment may be necessary for your policy. Immediate damage may be covered by your existing policy, but subsequent damage may not be included. For example, severe weather conditions and flooding caused by melting precipitation can cause damage that is not presently covered and has to be addressed in additional coverage.
Perhaps you have assumed responsibility for an additional household. When your children go away to college, they will need protection whether they live on campus or not.

These and other adjustments may affect the value and definition of your property. If any of these factors changes, then so should your rates and coverage. Belongings in your house should be covered as well. Part of your responsibility is to provide the necessary criteria to file a claim properly. Document any item for which you would potentially file a claim. This documentation should be updated as items are added or deleted from the list. This is especially important if you are renting or occupying a condominium. Your possessions require your personal attention. Establishing and maintaining insurance requires a working relationship between the insurer and the insured. We both have expectations to meet and responsibilities to fulfill. All of your policies can be reviewed at the same time to ensure appropriate coverage.

Tricia Sharpton is currently the Product Manager of Financial Service Education for Learning Insurance , one of the leading online financial services education providers. Her experience lies in day to day management of Financial Services education production, accreditation, customer service, marketing, and quarterly/yearly strategic planning, as well as identifying and establishing new business development ventures. Before joining the education team, Tricia operated her own Financial Services practice that focused on life insurance and investment planning for small business owners and families in the Austin area. Tricia holds a Texas Life and Health license, Series 6, and 63 license. Prior to Tricia becoming a licensed agent, she recruited new agents for a large life insurance company. Her expertise as an agent and recruiting agents offers her a unique insight rare to her role as a Product Manager. Tricia earned her Bachelor’s degree from Troy University with a major in Business Management.

To learn about training courses for insurance professionals, please visit - Small Business, Project Management, and Professional Training Center.

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