As we get closer to 2025, it’s a perfect time to pause and consider whether your insurance coverage fits your current lifestyle and covers everything important to you. Life changes quickly—sometimes in ways we don’t immediately notice—and the insurance policies that protected you perfectly a few years ago might need adjustments today. There are dozens of unique insurance policies on the market, but today, we’ll focus on the core insurance policies that nearly everyone should review to prepare for whatever 2025 might bring.
Home Protection: Your home is one of your most significant investments, whether you own it or rent it. Homes are more than just the walls and roof tiles that make up the structure; you want to ensure your policies cover everything that matters to you.
For homeowners, your core insurance needs may have changed if you’ve made renovations or additions or even just accumulated new possessions. Homeowners insurance typically covers what you would expect: the home’s physical structure, personal belongings inside the home, and liability related to on-property accidents. However, if the dwelling coverage hasn’t been adjusted to reflect new construction or accumulations of assets, you could be underinsured. Plus, with so much confusion and hardships surrounding the recent hurricanes and all the damage they brought, you need to adequately prepare for if another massive storm comes next year.
Renters insurance is often a necessity for securing a lease and protects the renter in cases of property loss or liability. Many renters overlook the importance of adjusting their coverage as they acquire new furniture, electronics, or valuables, but that means they can have significant out-of-pocket expenses if something happens.
Transportation Insurance
For most households, cars are the second largest investment after the home. Florida law requires car insurance, but you shouldn’t prioritize insurance just because of legal requirements; it’s one of the best, most fundamental forms of protection for your vehicle and financial well-being.
One area to look at closely is your liability limits—if your net worth has grown over the years, you may want to raise these limits to protect yourself in the event of a significant accident. Liability coverage should be high enough to cover potential damages to others in an at-fault accident without leaving your personal assets vulnerable.
You should also review your comprehensive and collision coverage. Have you paid off your car loan recently? If so, it might be time to consider whether you need to maintain full coverage or adjust your deductible to save on premium costs.
In addition, since Florida allows year-round bike riding, many use motorcycles for a daily commute. The principles are the same—liability coverage should be sufficient to protect your assets, and you should make sure your uninsured motorist coverage matches your risks.
Protecting your Health and Life
Health insurance is one of the most critical core insurance policies you can have, but it’s also one of the most prone to change, both in terms of what you need and what is available. If you’ve had changes in your health, family situation, or employment, it’s time to evaluate your health insurance for 2025.
Have you or a family member developed new healthcare requirements? Have you moved to a new location? Have you qualified for new state or federal programs or tax credits due to changes in income? Each person’s life is unique, but the need to constantly reexamine policies remains. It’s also a good idea to look at supplemental health options. Dental and vision coverage might not be included in your standard health insurance policy, but if you or a family member have upcoming needs like braces, dental surgery, or new glasses, it could be worth adding these coverages or upgrading to a more inclusive plan.
Just like health insurance, life insurance is often something people buy and then forget about. Life insurance is for emergencies, so your coverage should be enough to cover outstanding debts, living expenses for your dependents, and future needs like education. If you recently took on more debt that would significantly burden your family if something were to happen to you, this may be a sign that your life insurance needs to change, too.
These are just the core policies you should be reviewing, and if you have any questions, concerns, or insurance needs, contact the experienced insurance agents at Anderson & Associates Insurance Group today. We can review your policies and find the best plan offered by our insurance providers that covers everything necessary in your life.
