Laura Nickolay went to work with Habitat for Humanity last week. The team was led by an agent in an insurance agency. Volunteering made Laura consider insurance protection. White Oaks Wealth Advisors recommends you revisit your insurance protections every 3 to 5 years. Regular reviews help make sure that any gaps are addressed. In addition, a it will allow you to remove coverages that are no longer needed.

Questions to ask

Have you recently remodeled your home? Have you had a teenager who started driving? Did you purchase a boat? Did a child age off your insurance? Have you made any large purchases, such as jewelry? Did you install a home security system or a pool? Is there a trampoline in your backyard these days? These are all questions that a seasoned insurance broker can identify and assist with.

Next steps

Once you’ve ascertained that everything you need is covered, you need to look at the financials of the situation. A broker can review at multiple insurance carriers to ensure you are getting the best price for the insurance you need. In addition, that person will walk you through what different deductibles mean for your premium. You can ask if there is a discount for paying yearly, rather than monthly. As a result, this can reduce the premium. You will want to pay for the insurances you need, nothing more.

How we can help

Here at White Oaks we are happy to review your insurances with you to identify gaps. We will let you know what items should and can be taken back to your current agent for review. Or, if you prefer, we can also assist by referring you to a reputable broker to reevaluate your current insurances. Whatever you choose, our goal is to ensure you are as protected as you need to be for your unique situation.

The foregoing content reflects the opinions of White Oaks Wealth Advisors and is subject to change at any time without notice. Content provided herein is for informational purposes only and should not be used or construed as investment advice or a recommendation regarding the purchase or sale of any security. There is no guarantee that the statements, opinions or forecasts provided herein will prove to be correct. All information or ideas provided should be discussed in detail with an advisor, accountant or legal counsel prior to implementation.

Past performance may not be indicative of future results. Indices are not available for direct investment. Any investor who attempts to mimic the performance of an index would incur fees and expenses which would reduce returns.

Securities investing involves risk, including the potential for loss of principal. There is no assurance that any investment plan or strategy will be successful.