Life moves. Your insurance should keep up.
We’re not talking about buying more policies — just making sure the coverage you already have still fits your life.
Here are five moments that should spark a quick insurance check-in. A one-hour review now can save you thousands (or a headache) later.
1. Getting Married (or Moving In Together)
You just combined lives. Combine your policies, too.
- Auto: Married drivers typically pay about 5–10% less than singles — around $194 less per year, according to The Zebra.
And if you merge two cars onto one policy, you could earn up to a 25% multi-car discount (GEICO and others). - Home or Renters: One roof, one policy. Update personal property limits (two people = more stuff) and boost liability coverage to match your combined assets.
- Life: If you share bills or a mortgage, both of you should have a term life policy naming the other as beneficiary. The younger and healthier you are, the cheaper it is to lock in.
Quick win: Merge auto, review limits, and update every beneficiary — people forget that last one in the wedding rush.
2. Having a Child (or Welcoming Family)
A new dependent means new responsibilities.
- Life insurance: Nearly half of parents admit they need more coverage than they have, says LIMRA/Life Happens.
Price out a term policy that would cover income, childcare, and education if you weren’t around. - Health: Birth or adoption triggers a 30-day window to add your child to your plan — see HealthCare.gov.
Check pediatric networks and out-of-pocket limits. - Home/Renters: Big-ticket baby gear (cribs, stroller, nursery furniture) counts as personal property.
And yes, little kids can cause big liability — umbrella coverage can help when “oops” happens.
Quick win: Add baby to health coverage, lock in term life, and ask about family or umbrella options.
3. Buying a Home (or Upgrading One)
New house, new math.
- Insure for rebuild, not purchase price. Materials and labor drive replacement cost — often higher than your offer.
- Older roofs: Some carriers pay only actual cash value (ACV) for roofs 15+ years old — see Bankrate’s explainer for how that works.
- Renovations: Finishing a basement or redoing a kitchen raises your home’s value. If you don’t tell your insurer, you might be underinsured.
Quick win: Confirm replacement-cost coverage on structure and contents, add water-backup if you’re in an older-sewer area, and check ordinance-or-law coverage if your home predates current code.
4. Career Change or Starting a Business
New job, side gig, or self-employed? Time to update your safety net.
- Benefits: Leaving a job can mean losing group life or disability insurance — replace what you need privately.
- Business: About 75% of small businesses are underinsured, and roughly 40% have none at all, per Hiscox’s small-business risk report.
Even a home-based Etsy shop or consulting gig may need a rider or separate policy. - Driving habits: Commute longer or now remote? Let your auto insurer know — mileage affects rates.
Quick win: Add a home-business endorsement, adjust auto usage, and bump life insurance if your income jumps.
5. Retirement (and Other Big Transitions)
Your risks shift once the paychecks stop.
- Health care: Fidelity estimates a 65-year-old couple will need about $345,000 for medical expenses in retirement — not including long-term care (Fidelity Retiree Health Care Cost Estimate).
- Long-term care: A private nursing-home room now averages around $117,000 per year, per Genworth’s CareScout report.
- Home & auto: If you’re driving less, ask about low-mileage or usage-based discounts — but keep solid liability limits. Consider higher deductibles and umbrella protection to safeguard your nest egg.
Quick win: Right-size deductibles, review health/LTC options, and protect assets with an umbrella policy.
The Bottom Line
Every major life change = an insurance change.
Sometimes you’ll spend less, sometimes a bit more. The point is to keep coverage aligned with your current life, not the version from 10 years ago.
If any of these milestones sound familiar, schedule a policy review.
We’ll flag gaps, hunt for savings, and make sure your coverage keeps pace with your life.
Fetter Agency 