Let's face it, life changes over time.

The New Year is a time when many people pledge to lose weight and be more organized, but it's also a good time to resolve to better protect your family's home and belongings with an annual homeowners insurance review. 

Why is a yearly check-in with your insurance agent important?

THE BENEFITS OF AN ANNUAL INSURANCE REVIEW

Many homeowners purchase an insurance policy when they first move in, but they may not understand the importance of periodically reviewing it or reassessing their needs. It's an oversight that can ultimately lead to a gap in their coverage. 

For instance, you may have insured your home for $200,000 when you first bought it. A decade later, your home may cost $300,000 to rebuild. That's a $100,000 gap in coverage—which could leave you without the proper resources to rebuild in the event of a loss. 

A home renovation or upgrade is another reason you may want an insurance review. It can help ensure that your home and belongings are fully protected, and that your coverage is keeping up with your current needs. Everything from new furniture to a kitchen upgrade can affect the value of your family's home, and may even qualify you for additional discounts on your insurance policy. 

One way to evaluate your needs is to conduct a home inventory, a detailed catalogue of all your possessions. There are tools and even smartphone home inventory apps, that can streamline the process.

TIPS FOR TALKING WITH YOUR INSURANCE AGENT

Despite what you might think, though, an insurance review doesn't have to be an involved, time-consuming endeavor. A single conversation or a visit with your agent can help make sure that you're knowledgeable about your coverage and comfortable that your limits are meeting your current needs.