Objective: Conducting an annual review is a crucial process to protect your customer’s assets, the company and you as an agent.  It is important to review his/her information every time the policy renewals.  Below you will find a few things that you must ask during the review. 

Three steps to performing an annual review:

Step One -Verify their existing information

1. Verify their contact information.

Make sure to check their contact information that you have
on file with your customer and don’t forget to ask for additional phone numbers
an email address.

• Talk to them about their existing
  coverages.

This insures and verifies they have the correct coverages.

• Verify rated drivers, excluded drivers,
  vehicles, type of use of their vehicles, coverages, and excluded coverages.  

• Verify discounts.

• Make sure all applications are signed and
  attached in Hawksoft.

If for some reason you did not attached the application
from the beginning, please make sure that you look for the file and attach the
application right away.  Also, make sure
that you did not miss any important documents from the beginning.

Step Two – Look for Red Flags.

How to look for red flags in a policy.  

• Three
  vehicles and one driver.  The
  agent must ask to the insured for all persons age 14 or older who live with the
  insured or permanently, including all children at college, and all persons who
  are regular operators of any vehicle to be insured.
• Possible
  vehicles that look like they may be used for commercial use or vehicles with a
  sign.  The agent must
  ask if any of the vehicles are being used for commercial use like retail or
  wholesale delivery, including, but not limited to, the pickup, transport or
  delivery of magazines, newspaper, mail, food or to carry persons or property
  for compensation or a fee.

Part Three – Ask Questions.

Ask all the questions below to identify if something has
changed in your customer’s life since the last annual review.

• Do your limits meet your current needs?
• Do you have children at or nearing driving
  age?
• Does your auto policy list all drivers?
• Has your health insurance plan changed
  recently?
• Has your daily commute changed?
• Are you considering purchasing or leasing a
  new car?
• Have you considered paying your bill
  through automatic withdrawal to save time and money?
• Has your car loan been recently paid off?
• Do you have any other policies that are not
  currently insured with us?
• Are you interested in a Personal Umbrella
  and a Flood Policy?
• Do any of your vehicle(s) have an
  anti-theft device?
• Do you have any customization of vehicles
  including but not limited to, personal car wraps?
• Do you have young drivers on your policy
  who have a strong A/B average?
• Do you have young drivers on your policy
  who have completed a driver-training course?