Annual insurance checklist for every household

Gather every policy

Pull together home, contents, health, car, and income protection policies. Note the renewal dates, excess amounts, and coverage limits for quick comparison.

Store PDFs in a shared drive or password manager. Create a simple spreadsheet that tracks premiums and major inclusions so you can see overlaps at a glance.

Check current needs

Life events—renovations, new dependants, job changes—should trigger a coverage review. Confirm valuations are still accurate and update insured items if you’ve added high-value assets.

Compare quotes from at least two alternative providers each year. Loyalty increases premiums quietly; fresh quotes keep insurers honest.

Understand exclusions

Highlight waiting periods, claim limits, and event exclusions. Knowing the gaps helps you build an emergency fund to cover what insurance won’t.

Plan annual check-ins

Book one calendar day per year dedicated to insurance housekeeping. Cancel redundant policies, negotiate better rates, and confirm beneficiary details.

“Having this checklist gives us confidence we’re covered without overspending. It’s part of our annual financial reset.”

Document outcomes

Summarise any changes and store them with your estate planning documents. This makes it easy for future you—or loved ones—to step in if needed.

• Collect every policy document.
• Cross-check coverage against current needs.
• Set a shared annual review date.

1. Request updated quotes.
2. Negotiate or switch providers.
3. Record changes and notify stakeholders.