Are you properly insured? 7 steps to check your policies today

Regularly reviewing your insurance policies ensures your cover remains accurate and current.
As circumstances change — such as income, property value, dependents, or lifestyle — your insurance needs may shift too.

A periodic review helps you:

• Identify gaps in coverage

• Prevent over- or under-insuring

• Confirm that premiums and benefits still offer good value for money

Taking the time to reassess your policies each year can improve your financial security and ensure you’re properly protected when you need it most.

1. Gather all your policies

Start by collecting your current insurance documents — digital or paper copies. Include:

• Home and contents insurance

• Car insurance

• Health insurance

• Life or income protection insurance

• Travel or pet insurance (if relevant)

Tip: Create a simple spreadsheet or folder to track renewal dates, coverage amounts, and insurer contacts.

2. Check policy dates and renewal cycles

Look at the policy start and end dates.
Most policies renew annually, so set a reminder 4–6 weeks before renewal to review and compare your options.

3. Review your coverage levels

Ask yourself:

• Have your assets increased in value (e.g. home renovations, new valuables)?

• Have your circumstances changed — such as a new job, family member, or property?

• Does your coverage still match your current needs?

Tip: Underinsurance is common after home upgrades — update your coverage amounts or add riders to reflect your current situation.

4. Compare premiums and excesses

Check whether your premiums have increased and if your excess (the amount you pay when making a claim) still suits your budget.
It can be worth shopping around or asking your insurer for a loyalty discount or multi-policy bundle.

5. Check exclusions and conditions

Review the fine print carefully. Look for:

• Any new exclusions added at renewal

• Changes to claim limits or sub-limits

• Clauses that may no longer suit your lifestyle (e.g. working from home or running a home-based business)

6. Update personal details

Make sure your:

• Contact details

• Nominated beneficiaries

• Vehicle or property information

…are all current.
Outdated details can lead to claim delays or rejections, so it’s worth double-checking.

7. Seek professional advice

Consulting an insurance broker or financial adviser can streamline the process.
We’ll review your policies, compare options across insurers, and help tailor coverage to your goals.

Quick annual insurance review checklist

• ☐ Policies collected and renewal dates noted

• ☐ Coverage matches current assets and lifestyle

• ☐ Premiums and excess reviewed

• ☐ Exclusions and conditions understood

• ☐ Details and beneficiaries updated

• ☐ Professional review completed