Lesson 8: Insurance Essentials - Checklist
Insurance Needs Assessment
Identify which types of insurance are essential for your situation
Calculate appropriate coverage levels for each insurance type
Review existing policies for coverage gaps or overlaps
Compare current premiums with market rates
Prioritize insurance needs based on risk exposure
Home Insurance Review
Confirm buildings insurance covers full rebuild cost
Update contents insurance to reflect current replacement values
Complete home inventory with photos/videos
Check for exclusions and add coverage if needed
Review excess amounts and adjust if appropriate
Car Insurance Optimization
Compare comprehensive vs. third party coverage
Review named drivers on policy
Check annual mileage estimate for accuracy
Explore telematics/black box options if appropriate
Identify available discounts (no claims, multi-policy, etc.)
Life and Health Insurance
Calculate life insurance needs based on dependents and obligations
Review critical illness coverage and definitions
Assess income protection insurance requirements
Check if employer benefits provide adequate coverage
Consider family medical history when selecting coverage