Changing Lives, Changing Coverage

Pam Lambropoulos of Great Lakes Independent Insurance Agency

Insurance coverage is not a one-size-fits-all proposition — even when you’re talking about a single person. As lives change, changes also occur in insurance coverage needs, according to Pam Lambropoulos of Great Lakes Independent Insurance Agency.

“It is best to know what you are covered for and what you are not covered for before you call your agency with a claim,” said Lambropoulos.

Most people don’t think about their coverage until they need it, but Lambropoulos suggested that policyholders review their insurance at least annually. Many insurance plans change or do not contain the coverage that people think they do.

“As you know, a lot can change in a year; and as your life changes, you want to change your insurance accordingly,” she said. “Most insurance companies automatically renew your policy at renewal; and if we are not aware of any life changes, your policy will renew as is. We will look over your policies and review your coverages to make sure that what you had the prior year is still adequate coverage for you in your situation now. We will also check to make sure that you have the best coverage for the best price.”

Even very small changes in your life can cause a gap in the coverage that you have. Things like large purchases, moving, marriage or changing your job could be vital to your continued coverage. An annual review to relay any changes in your life to your insurance company can make a large difference in your policy. You could even be missing out on savings or you might not be receiving applicable discounts.

“We know you are busy, so we can keep the review to approximately no more than one hour each year,” Lambropoulos said. “That is not much to ask for your peace of mind. We reach out to our clients — either by email, phone call or text — to offer the review. When your agency reaches out to you, you should set aside the time to discuss these important issues with them. Each year, the review will get shorter and easier as we get to know you better and better with time.”

Remember, just because your agency calls you, it does not necessarily mean that it wants to sell you anything more. Companies add and delete coverage. Unless you read everything that you receive, you may miss additional coverage or even discounts for which you might qualify. A good agency will offer you the products that it has and allow you to decide how much coverage you want to purchase with the agency’s assistance and professional advice.

Related

Dining TableDining Table

Michigan Outlines MI COVID-19 Safer Dining Program

In the coming weeks, diners will be able to check the website to see which restaurants in their areas are participant…
Christina MorilloChristina Morillo

$39M in Going PRO Talent Fund grants awarded

The Going PRO Talent Fund has supported over 90,000 workers with training since the program’s inception in 2014.
Typing on ComputerTyping on Computer

Understanding Budget versus Actual Analysis

If you find yourself spending lots of time updating your monthly variance analysis, not understanding the results or …

Watchful Eye Remains on State Capitol in Downtown Lansing

While rumors of protests at the state Capitol building Sunday didn’t meet expectations, many are keeping an eye on do…
Red Bike DeliveryRed Bike Delivery

Red Bike Delivery Transports Meals on Two Wheels

Hurt’s goal is to make Red Bike Delivery personal and safer for the environment, even if the current environment invo…

Connect

517 Facebook
517 Instagram
517 Linkedin

Contact

517.203.3333

221 W. Saginaw St.
Lansing MI, 48933

All Rights Reserved 517 Business and Lifestyle Magazine. Website designed and developed by M3 Group

Sign up for our newsletter!