The annual insurance review — what actually matters, and why most agents skip it
An annual insurance review checks whether your coverage still matches your life. The mortgage you paid off, the kid who started driving, the rebuild cost that climbed 35% since 2022, the umbrella limit that's no longer sized to your actual assets — none of that updates automatically. Most agents don't volunteer a review. We do it for every client every year as part of the relationship.
Coverage options
Why an Annual Review Matters
Insurance policies are point-in-time snapshots. They get issued based on what was true 12+ months ago and renew automatically each year regardless of whether anything has changed about your home, vehicles, household, or assets. In a normal year that might be fine; in a year with 8-15% construction-cost inflation (which we've had since 2022), a $500K dwelling-coverage policy from 2022 is now meaningfully underinsured at $675K+ rebuild cost. Without a review, you discover the gap during a claim — when it's too late.
What an Annual Review Actually Checks
Replacement cost vs. actual rebuild cost (we re-run the rebuild calculator with current construction pricing for your zip code). Vehicle changes (new car, sold one, kid started driving, garaged differently). Household additions (newborn for life insurance, dog for liability, finished basement for water-backup limits). Liability adequacy (your assets at risk vs. your current limits). Endorsement gaps (water backup, ordinance-or-law, scheduled personal property for jewelry/art/instruments). Premium re-shop across our 25+ carriers to make sure your current carrier is still pricing your profile competitively.
Coverage Gaps We Most Often Find
Dwelling coverage 15-30% below current rebuild cost (the most common single gap by a wide margin). No water-backup endorsement on homes with finished basements. Umbrella limits unchanged despite asset growth or new exposures (teen driver, pool). Liability auto limits still at state minimum despite household income/asset profile justifying 100/300/100+. Scheduled personal property for items above the standard policy sublimit (jewelry, fine art, musical instruments, collectibles). Older homes missing ordinance-or-law coverage for code-upgrade exposure during reconstruction.
Premium Re-Shopping Across 25+ Carriers
A real annual review re-quotes your profile across the full carrier appointment list, not just at your current carrier. Carrier appetite and pricing shift constantly — a carrier that priced you well three years ago may now be 18% more expensive than the carrier that took over their underwriting strength in your zip code. The re-shop is the part most captive and casual independent agents skip because it takes time and may end with you moving away from them.
When to Schedule the Review
Best timing: 60-75 days before your home or auto renewal date. That gives us time to re-shop, present options, and bind a different carrier with no coverage gap if a switch makes sense. Also schedule a review after any major life event: home purchase, refinance, marriage, new baby, kid getting a driver's license, new car, finished basement, home addition, business launch, retirement, or significant asset change. Geneva clients get this as a standing offer — call any time, no charge.
What an Annual Review Costs
Nothing. The review itself is free and we do it as standard practice for every client. If we identify gaps and you decide to update coverage or move to a different carrier, the only "cost" is the premium difference (which is usually a savings, not an increase). There is no consulting fee, no review fee, no charge to walk away from our recommendations.
Why clients choose Geneva Insurance Group
Every Client Gets a Review — Standard
Annual reviews aren't a premium-tier service or an opt-in. They're the default operating model at Geneva. If you're a Geneva client, we will reach out before your renewal to confirm a review, regardless of policy size.
Multi-Carrier Re-Shop Included
A real review includes re-quoting your profile across 25+ carriers, not just confirming your current carrier's renewal rate. We've had multiple clients save $1,200+/year by switching at renewal after a review — money the captive renewal would have quietly cost them.
Honest Recommendation Even If You Stay
If the review concludes you're already in the right place, we'll tell you. Independent agents make money when you buy a policy, not when you stay — but a happy client retained over 10 years is worth more than a one-time switch we forced. We'll always tell you the truth about whether a switch makes sense.
Frequently asked questions
How often should I review my home and auto insurance?
At minimum once per year, ideally 60-75 days before each renewal. Also after any major life event: home purchase, mortgage refinance, marriage, new baby, kid getting a driver's license, new vehicle, home addition, business launch, retirement, or any significant change to household assets. Construction-cost inflation alone (8-15% per year recently) makes annual review essential for dwelling coverage even when nothing in your life has changed.
What life changes should trigger an immediate coverage review?
Home purchase or sale, refinance with a new lender, marriage or divorce, addition of a teen driver, new vehicle purchase, home addition or major renovation, finished or refinished basement (raises water-backup needs), pool installation (raises liability needs), new pet (some breeds affect coverage), retirement (often changes liability + life insurance picture), business launch or significant change to a home-based business, significant asset change (inheritance, stock vesting, business sale).
Is an annual insurance review really free?
For our clients, yes. There is no fee for a review, no consulting charge, and no obligation to make any changes based on our recommendations. We make money on commissions from policies you choose to buy or keep — and an annual review either confirms you're in a good spot or surfaces an opportunity to improve. Either way, the review itself is at no cost.
Will my premium go up after an annual insurance review?
Usually it goes down — that's the whole point of re-shopping. The most common outcome is identifying a different carrier that prices your current profile 10-25% better than your existing carrier, then moving you there at renewal with no coverage gap. Premium can go up modestly if we identify a coverage gap (e.g., dwelling coverage was 25% under current rebuild cost), but the increase is usually small and you've gained meaningful protection. We always present the trade-offs explicitly before any change.
How long does an annual insurance review take?
Typically 30-45 minutes of your time spread across one call, a follow-up email, and a brief approval conversation if a switch is recommended. Our side takes 2-4 hours of work (re-running rebuild cost, re-quoting across the carrier appointments, building the comparison spreadsheet, drafting recommendations). Most of the work is behind the scenes; what you experience is a short conversation followed by a comparison document you can review on your own time.