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Is Your Insurance Up-to-Date?

An end of the year checkup will help keep your policies current.

Adjust your insurance to cover home improvements.

Rob and Julia Campbell / Stocksy

The end of the year is a great time to do an insurance checkup. As your circumstances change, your policies should keep pace; an annual consultation with your agent will help you make sure they do. Among the factors you'll want to consider:

Vehicle depreciation. As your car ages, you'll want to reevaluate how you're insuring it. Look up its Kelley Blue Book value, then decide whether your current collision policy still makes sense.

Building costs. The tab for rebuilding your house can change over time. Ask a local real estate agent for the average cost per square foot of residential construction in your area. Multiply that number by your home's square footage to find out whether your current coverage is adequate.

Home upgrades. If you made any improvements to your house this year or plan to do so in 2020, you'll need to adjust your insurance policy to reflect your domicile's new value.

New stuff. If you've acquired new jewelry, art, or other valuables, check your policy's limits on compensation in case of theft. And if you've added anything to your property that might result in injuries (such as a swimming pool), make sure that you have enough liability coverage.

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AAA Auto, Home, and Life Insurance.