Keep Track of Your Insurance Policies—Make Insurance Checkups

Most people don’t think much about their insurance policies after they buy them. A bill shows up, they pay it, and life moves on. Insurance becomes almost invisible—until something happens. A catchy TV ad might remind them to shop around for a better rate, but otherwise, the details of their coverage stay buried in paperwork or forgotten email inboxes.

Unfortunately, insurance isn’t a “set it and forget it” product. People move, pay off mortgages, change banks, get married, retire, or otherwise shift the ground under their insurance needs. When that happens, policies can lapse without anyone noticing. Renewal notices can get lost. Premium refunds can get mistakenly cashed without understanding what they mean. And by the time someone realizes there’s a problem, it’s usually when they need the coverage most—only to find it’s no longer there.

The recent case of Pamela Mott Duff is a real-world example. ¹ Duff had a renter’s insurance policy with State Farm covering her belongings. After she moved, there was confusion about whether she canceled her policy or if it simply expired. She thought she still had coverage when her former home burned down in 2022. But by then, the policy had long since been canceled or allowed to expire. The court dismissed her claim because there was no insurance in place at the time of her loss. Whether it was poor communication, lost notices, or misunderstandings about refunds, the outcome was the same: no coverage when she needed it most?.

The best way to avoid a situation like this is simple but often overlooked—build a relationship with a trusted insurance agent. Think of it like having a regular checkup with your doctor. You wouldn’t go years without checking on your health, so why would you treat your financial protection differently? A good agent will help you keep your policies current, explain what’s changing, and make sure you aren’t left exposed without realizing it. Life moves fast, and small changes can have big consequences when it comes to insurance.

Whether individually or as a business, having an agent you can talk to regularly helps you make sure your policies match your current needs, all your contact information is up to date, and the policies are in place. It also gives you someone to turn to when you move, pay off a loan, or experience a major life event. Insurance only works if it’s there when you need it. Don’t leave it to chance.

Thought For The Day

“In the insurance business, there is no statute of limitations on stupidity.”
— Warren Buffett

¹ Duff v. State Farm Fire & Cas. Co., No. 3:24-cv-00050 (W.D. La. Apr. 8, 2025).