We are always changing and evolving. As we change, our needs also change. Sometimes our changing needs are very obvious. For instance, if you used to live in a one bedroom apartment in your twenties - but then you get married, have a couple of kids and get a dog - you may need a little more space than that one bedroom apartment provides. Most people are quick to recognize that and up-size accordingly.
There are other changing needs that aren't quite as obvious. Because they aren't as obvious, sometimes we fail to recognize them. Auto insurance is one example that comes to mind. Nobody wants to review their auto insurance policy. It's boring and usually doesn't seem that important. After all, it's not like you're driving around without auto insurance.
Unfortunately, we see people in our office everyday that purchased auto insurance 10, 20, 30 or 40 years ago, filed it away, continued making payments to the insurance company and never reviewed it again. They assume that they have insurance and everything is fine. They assume this until they are in an accident or their family member is in an accident and then we have the daunting task of explaining what they've been paying for all of those years.
Just as your changing needs demand different sizes of homes, your changing needs also require different auto insurance coverage. In this 4 part series, we will briefly go through the decades of your life and give you some general pointers on what your ideal auto insurance policy should look like. Check back in tomorrow for our first installment related to young drivers!