A Golden Opportunity: Your Annual Review

Your property and casualty insurance needs are subject to constant change as you and your family make your way through life’s transitions.


By transitions, we mean social events, hobbies, and activities – or adding a teen-age driver to your household – that might change your liability exposure. In addition to considering these changes, we recommend that you take a look at how you currently manage and protect your prized collections (antiques, artwork, fine china). Economic shifts in the worlds of precious metals and art can drastically change the value of your jewelry, antique furniture, and art collections in a matter of months – potentially leaving you underinsured against loss or damage.


At Fireman’s Fund, we recommend sitting down with your independent insurance agent annually to review your insurance needs. There’s no better time than the beginning of a new year to get in shape for a more secure future.


Get a Feel for Insurance Gaps

You can get a good idea of the issues that typically influence your insurance needs by asking yourself the questions below. The questions deal with a range of issues, from the way you and your family currently use your home, to your driving habits, to large purchases that you may have made in recent months. Once you have completed the self-assessment, talk with your independent insurance agent about updating your existing policies or adding endorsements. Also ask your agent about options for further customizing your policies. Be sure to review your deductibles and inquire about our automated billing options. If you’re concerned about personal liabilities, you may want information about our Prestige Excess® policy that protects you against legal costs of a lawsuit. Of special note is our offer of substantial rate credits for customers who purchase multiple Fireman’s Fund coverages from our Prestige® Portfolio of personal insurance products and endorsements.

Checklist for Your Annual Insurance Self-Review

Please read the following list of questions. If you answer “Yes” to one or more items, it’s time to call your independent Fireman’s Fund Insurance Company agent to discuss possible changes in your coverage.


Homeowners Coverage

  1. Have you or are you planning on investing $25,000 or more in renovating your home or property (interior and/or exterior)?
  2. Are you planning to sell, move to, purchase, or rent additional residential properties?
  3. Have you invested in any new security devices or systems for your premises?
  4. Are you interested in purchasing insurance to protect your home(s) against flood and surface water damage?

Automobile Coverage

  1. Will you purchase a new car this year?
  2. Is your auto insurance currently carried by a company other than Fireman’s Fund?*
  3. Do you expect a member of your household to obtain a driver’s license within the next year?

Personal Liability Coverage

  1. Have your personal assets (property, collections, and investments) increased in value more than 25% since you last reviewed your liability coverage?
  2. Are you interested in a worker’s compensation policy or employment practices liability coverage for hired employees or domestic staff?
  3. Have you started a business in your home?
  4. Do you entertain frequently?
  5. Have you or members of your immediate family joined a nonprofit board?
  6. Have you built a pool or other recreational structure on your property?
  7. In case of a civil lawsuit, is it important that you use your own attorney?
  8. Are you concerned about risk to your reputation in the case of a civil lawsuit?
  9. Do you manage funds for a family trust?

Valuables Coverage (Art, Antiques, Jewelry, and Other Collections)

  1. Have you made a major addition to any of your collections?
  2. Has it been more than three years since you had your fine art or jewelry appraised?
  3. Do you have an extensive wine collection that is not insured?
  4. Are you planning to exhibit, transport, or store any valuables off site?

Other Concerns

  1. Have you made any major lifestyle changes that might alter your insurance needs, such as marrying, divorcing, or retiring?
  2. Have you changed the ownership structure on your property (e.g., started a trust or an LLC)?
  3. Have you purchased a boat or an aircraft?
  4. Are you interested in purchasing identity fraud and restoration coverage?
  5. If you currently insure your home, but not your auto, with Fireman’s Fund, you may qualify for substantial rate credits on Fireman’s Fund Prestige Auto® insurance coverage.

This publication provides general information and/or recommendations that may apply to many different situations or operations. Any recommendations described in this publication are not intended to be specific to your unique situation or operation and are not intended to address all possible hazardous conditions or unsafe acts that may exist. Consult with your staff and specialists to determine how and whether the information in this publication might guide you in specific plans for your situation or operations. Additionally, this article does not substitute for legal advice, which should come from your own counsel. 

These descriptions of coverage are abbreviated and are subject to the terms, conditions and exclusions of the actual policy, which forms the contract between the insured and the insurance company. Availability of coverages, credits and options may vary by state.