Similar to the section on Not Updating Your Coverage, consumers jeopardize their coverage when they fail to report important changes, such as moving and renting out their home or letting a younger driver operate their motor vehicle.
Insurance is underwritten based on your circumstances at the time that you purchase the policy. If those circumstances change and you fail to notify your agent, you may not be covered if and when you file a claim. Sometimes even a seemingly small change makes a big difference.
Your insurance needs will always change over the course of your life. When you marry, when you have children, when they move away from home and when you retire, are just a few of the everyday events that will affect your insurance needs. Be sure to keep your agent informed of these changes.