Annual Insurance Coverage Review Checklist

Most insurance problems are not caused by bad policies. They're caused by good policies that stopped matching the life or the business they were written for — a renovation nobody reported, a teenager who started driving, a second location, a business that doubled its revenue while its limits stayed put.

Renewals arrive automatically and are accepted automatically, which means nothing forces that comparison. This checklist does. Run it once a year, ideally 60 days before your renewal, and take about an hour.

Print it. Fill it in. Bring it to your agent. An agent looking at a completed version of this list can do more for you in twenty minutes than in six months of quote requests.

PART 1 — What changed this year

The whole review turns on this section. Tick anything that happened in the last 12 months.

Household

☐  Married, divorced, or separated

☐  Child born or adopted

☐  A driver turned 16 — or a driver left home

☐  Someone moved in (parent, adult child, roommate)

☐  A death in the household

☐  Retirement, or a change of job or income

☐  Started a business, a side business, or freelance work

☐  Started renting out a room or the whole property short-term

Property

☐  Bought, sold, or refinanced a home

☐  Renovated, added square footage, or finished a basement, garage, or ADU

☐  New roof, electrical panel, plumbing, or HVAC

☐  Added a pool, spa, trampoline, or playground equipment

☐  Added solar, a battery, or an EV charger

☐  Installed a security system, water shut-off, or monitored alarm

☐  Bought significant jewellery, art, instruments, tools, or collectibles

☐  Acquired a vehicle, motorcycle, RV, boat, or trailer

☐  A dog, or a change in breed

☐  Completed wildfire mitigation or defensible space work

Business

☐  Revenue up or down more than 20%

☐  Payroll change, or first employee hired

☐  New location, or a location closed

☐  New service line, product, or industry

☐  Started or stopped using subcontractors

☐  Bought significant equipment or vehicles

☐  Signed a lease or a contract with insurance requirements

☐  Started collecting customer data, or accepting card payments online

Anything ticked above is a conversation. Most of them are also a coverage gap right now.

PART 2 — Home

☐  Dwelling limit (Coverage A) reflects current rebuild cost, not market value — construction costs have risen sharply

☐  Extended or guaranteed replacement cost endorsement in place

☐  Ordinance or law coverage adequate — code upgrades triggered by a repair are excluded without it

☐  Other structures (Coverage B) covers fences, sheds, detached garage, ADU

☐  Personal property (Coverage C) matches your actual contents — see home inventory checklist

☐  Replacement cost on contents, not actual cash value

☐  Sublimits checked — jewellery, firearms, silverware, cash, business property at home

☐  High-value items scheduled with current appraisals

☐  Loss of use (Coverage D) adequate for the local rental market

☐  Liability (Coverage E) at $500,000 or more

☐  Deductibles known, including any separate percentage wildfire or wind deductible

☐  Water backup endorsement in place

☐  Earthquake — separate policy, considered and decided

☐  Flood — separate policy, considered and decided

☐  Home business / short-term rental exposure disclosed

☐  Discounts verified — alarm, new roof, claims-free, bundling, autopay, paperless, mitigation

PART 3 — Auto

☐  Liability limits well above the state minimum (California's minimum rose to 30/60/15 on January 1, 2025 — the minimum is still far too low for a real accident)

☐  Uninsured/underinsured motorist limits match your liability limits

☐  MedPay in place

☐  Comprehensive and collision still economic on each vehicle

☐  Deductibles at a level you could actually pay tomorrow

☐  Every driver listed correctly, including students away at school

☐  Gap coverage if any vehicle is financed and upside down

☐  Rideshare or delivery use disclosed — a personal policy generally excludes it

☐  Rental reimbursement and roadside decided deliberately

☐  Discounts verified — multi-car, good student, telematics, low mileage, defensive driving, bundling

PART 4 — Umbrella and life

☐  Personal umbrella in place — usually inexpensive relative to what it removes

☐  Umbrella limit reasonable against net worth and future earnings

☐  Underlying limits meet the umbrella's requirements

☐  Life insurance amount still matches obligations — mortgage, income replacement, education, final expenses

☐  Beneficiaries current on every policy and every retirement account (the most commonly out-of-date item in all of personal insurance)

☐  Disability coverage considered

PART 5 — Business

☐  Property limits updated for current replacement cost; coinsurance requirement checked

☐  Business income limit recalculated against current revenue

☐  Extended period of indemnity length confirmed

☐  General liability limits adequate for current operations and contract requirements

☐  Class codes and payroll accurate — this drives premium and audit results

☐  Workers' comp covering all employees; ex-mod reviewed and understood

☐  Commercial auto including hired and non-owned

☐  Cyber liability in place, with limits matched to the data you actually hold

☐  EPLI in place if you have employees

☐  Professional liability / E&O if you give advice or provide a professional service

☐  Equipment breakdown, inland marine, crime considered

☐  Certificates and additional insured endorsements current for every contract that requires them

☐  Contract insurance requirements reviewed against actual coverage

PART 6 — Health and benefits

☐  Plan still matches usage and provider network

☐  Deductible, out-of-pocket maximum, and prescription tiers reviewed

☐  Life, dental, vision, and disability benefits reviewed

☐  HSA / FSA contributions set for the year

☐  Open enrollment dates calendared

PART 7 — The relationship

☐  You know your agent's name and direct number

☐  Someone reviewed your coverage with you in the last 12 months

☐  Your renewal came with an explanation, not just an invoice

☐  You know what your policy does not cover

☐  You know who to call at 6 p.m. on a Friday when something happens

If the last five are mostly unticked, the coverage isn't the problem. See signs it's time to switch agents.

When to do this

Sixty days before your renewal. That's enough time to remarket if the number comes back wrong, to complete mitigation work, and to schedule an appraisal — and not so early that the information goes stale. If your premium already jumped, start with what to do when your premium spikes.

Bring the completed checklist. We'll do the rest in twenty minutes.

A TSM review is free, takes about half an hour, and frequently ends with "your coverage is right, here's why" — which is a perfectly good outcome. What it never ends with is you finding out at claim time.

Modesto (209) 524-6366 · Redding (530) 221-3031 · Talk to a TSM advisor