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Insurance review checklist

Do this once a year on the same date. Most people are simultaneously over-insured on small things and under-insured on the one that would actually ruin them.

32 items

Makes your own editable copy. No account needed.

The items

  1. Gather
  2. List every policy you pay for, from the bank statement not from memory
  3. Renewal date and premium for each
  4. Check what your bank account or credit card already includes
  5. Check what your employer provides
  6. Home
  7. Rebuild value, not market value, for buildings cover
  8. Contents total — walk round and actually estimate
  9. Single-item limit against your most expensive thing
  10. Accidental damage included or not
  11. Cover for items taken outside the home
  12. Excess you could actually pay tomorrow
  13. Car and travel
  14. Mileage and use declared correctly
  15. Named drivers still current
  16. Courtesy car and breakdown included or duplicated
  17. Annual travel policy versus per-trip
  18. Medical conditions declaredAn undeclared condition is the single most common reason a travel claim is refused.
  19. Winter sports or activity cover if you need it
  20. Life and health
  21. Life cover against the mortgage and dependants
  22. Income protection or critical illness
  23. Death-in-service from work, and its value
  24. Beneficiaries named and still correct
  25. Policies written in trust where appropriate
  26. Act on it
  27. Get three quotes before accepting a renewal
  28. Cancel anything duplicated
  29. Raise excesses on things you would never claim for
  30. Update anything with a wrong address or value
  31. Save every policy document to the same folder
  32. Set next year's review date

Makes your own editable copy. No account needed.

Questions people ask

How often should I review my insurance?
Once a year, and after any life change — moving, a baby, a new job, buying something expensive. Auto-renewal quietly costs more than switching almost every time.
What am I likely paying for twice?
Travel and breakdown cover bundled into a bank account you forgot about, gadget cover that duplicates contents insurance, and extended warranties on things already covered.