The insurance shopping checklist

Before you request anything

• Write down what you're actually trying to protect, in one sentence
• Find out what coverage you already have, including through work
• Locate your current declarations page if you're replacing a policy
• Decide what you could comfortably pay out of pocket — that sets your deductible
• Note any deadlines, like a closing date or a renewal

Questions to ask before you sign

• What exactly is excluded?
• Is there a waiting period, and what's paid during it?
• Is the premium level, or can it increase?
• What would cause this policy to lapse or be cancelled?
• What's the claims process, and who do I contact?
• Is this replacing existing coverage, and is there a gap between them?

Verify who you're dealing with

Anyone selling or placing insurance should be licensed, and licensing is publicly verifiable through your state insurance department. Asking for a name and licence number is a completely normal request.

Be wary of pressure to decide immediately, requests for payment by unusual methods, or reluctance to put terms in writing. Legitimate professionals expect you to take your time.

After the policy is in force

• Read the policy when it arrives — the free look period exists for this
• Confirm your beneficiaries are correct and current
• Store the documents where the people who'd need them can find them
• Cancel the old policy only once the new one is confirmed in force
• Diarise a review for next year, or after any major life change

The things that should make you pause

You should never feel rushed, and you should never be discouraged from reading the contract. If a conversation makes either of those difficult, that's information about the conversation, not about you.