How to Review Your Insurance Policies Like a Pro: The Annual Check-Up

When was the last time you actually looked at your insurance policies?

Not renewed them. Not paid the premium. Actually looked at what you're covered for.

If you're like most Kenyans, the answer is "when I first bought them." Maybe years ago. Maybe in a rush. Maybe someone at the office handled it.

And since then? Life changed. Your cover didn't.

You got married. Had a kid. Bought a car. Changed jobs. Started a side hustle. Moved to a bigger house. Your parents got older.

But your insurance? Still frozen in 2022.

That's a problem. And this article is your fix.

Table of Contents

• Why You Need an Annual Insurance Review
• When to Do Your Review
• The Annual Review Checklist
  • Step 1: Gather All Your Policies
  • Step 2: Check Your Cover Amounts
  • Step 3: Review Your Beneficiaries
  • Step 4: Read the Exclusions (Again)
  • Step 5: Check Your Premiums Against the Market
  • Step 6: Review Your Deductibles and Excess
  • Step 7: Check for Life Changes That Affect Cover
  • Step 1: Gather All Your Policies
  • Step 2: Check Your Cover Amounts
  • Step 3: Review Your Beneficiaries
  • Step 4: Read the Exclusions (Again)
  • Step 5: Check Your Premiums Against the Market
  • Step 6: Review Your Deductibles and Excess
  • Step 7: Check for Life Changes That Affect Cover
• Policy-Specific Review Tips
  • Medical Insurance
  • Motor Insurance
  • Life Insurance
  • Home Insurance
  • Business Insurance
• When to Switch Insurers
• The Biggest Mistake: Doing Nothing
• Final Word: Your Insurance Should Grow With You
  • 🟢 Your Action Plan

Why You Need an Annual Insurance Review

Insurance isn't a set-and-forget product.

Your life changes every year. Your risks change. Your income changes. Your family structure changes.

If your cover doesn't keep up, you're either:

• Underinsured -- paying premiums but not covered for what actually matters now
• Overinsured -- paying for cover you no longer need
• Paying too much -- because you never shopped around after the first purchase

An annual review takes 1-2 hours. It can save you hundreds of thousands of shillings -- or protect you from a gap you didn't know existed.

One hour per year reviewing your insurance is worth more than a hundred hours panicking during a claim.

For a structured approach, see our insurance policy review guide.

When to Do Your Review

Pick one time each year and make it a habit. Good options:

• January -- New year, fresh start, most policies renew early in the year
• Your birthday month -- Easy to remember, natural time to reflect on life stage
• Before renewal -- Most policies give 30 days notice. Use that window

The key is consistency. Put it in your calendar. Set a reminder. Treat it like a car service -- routine maintenance that prevents breakdowns.

The Annual Review Checklist

Here's your step-by-step process. Go through each policy you hold.

Step 1: Gather All Your Policies

Collect every active insurance document:

• Medical/health insurance
• Motor insurance
• Life insurance
• Home insurance
• Business insurance
• Travel insurance
• Any riders or add-ons

Don't skip the ones your employer provides. Group cover changes too.

Step 2: Check Your Cover Amounts

For each policy, ask:

• Is the sum insured still adequate?
• Has the value of what I'm insuring changed?
• Am I insuring new assets that aren't covered?

Examples:

• Your car was worth KSh 2M when you insured it. It's now worth KSh 1.4M. You might be overpaying
• You renovated your house and added KSh 3M in value. Your home insurance still reflects the old value
• Your income increased. Your life insurance cover should increase proportionally

Step 3: Review Your Beneficiaries

This one catches people off guard.

• Did you get married or divorced?
• Did you have a new child?
• Is the named beneficiary still the right person?

Outdated beneficiary information causes real problems during claims. Update it.

Step 4: Read the Exclusions (Again)

Exclusions change. Insurers update policy wording. What was covered last year might not be covered this year.

Pay special attention to:

• Pre-existing condition clauses
• Geographic limitations
• Waiting periods that have expired (good news -- you might have new benefits available)
• Activity exclusions (especially for travel and life insurance)

Step 5: Check Your Premiums Against the Market

Loyalty doesn't always pay in insurance.

• Get comparison quotes from 2-3 other insurers
• Check if your no-claim discount is being applied correctly
• Ask your current insurer about loyalty discounts or bundling options

For medical insurance, tools like BimaSasa make it easy to compare your current plan against 40+ alternatives -- so you can see if you're still getting value for money.

Step 6: Review Your Deductibles and Excess

Higher deductibles mean lower premiums. But can you afford that deductible if you need to claim?

Ask yourself:

• Could I comfortably pay KSh 50,000 out of pocket right now?
• If not, maybe a lower deductible (and slightly higher premium) makes more sense

Step 7: Check for Life Changes That Affect Cover

Major life events that should trigger an insurance review:

• ✔️ Marriage or divorce
• ✔️ Birth of a child
• ✔️ Buying or selling property
• ✔️ Changing jobs or starting a business
• ✔️ Taking on a loan or mortgage
• ✔️ A parent moving in with you or becoming dependent
• ✔️ Reaching a milestone age (30, 40, 50, 60)
• ✔️ Significant income change (up or down)

Our insurance needs analysis guide walks through how different life stages affect your coverage requirements.

Step 1: Gather All Your Policies

Collect every active insurance document:

• Medical/health insurance
• Motor insurance
• Life insurance
• Home insurance
• Business insurance
• Travel insurance
• Any riders or add-ons

Don't skip the ones your employer provides. Group cover changes too.

Step 2: Check Your Cover Amounts

For each policy, ask:

• Is the sum insured still adequate?
• Has the value of what I'm insuring changed?
• Am I insuring new assets that aren't covered?

Examples:

• Your car was worth KSh 2M when you insured it. It's now worth KSh 1.4M. You might be overpaying
• You renovated your house and added KSh 3M in value. Your home insurance still reflects the old value
• Your income increased. Your life insurance cover should increase proportionally

Step 3: Review Your Beneficiaries

This one catches people off guard.

• Did you get married or divorced?
• Did you have a new child?
• Is the named beneficiary still the right person?

Outdated beneficiary information causes real problems during claims. Update it.

Step 4: Read the Exclusions (Again)

Exclusions change. Insurers update policy wording. What was covered last year might not be covered this year.

Pay special attention to:

• Pre-existing condition clauses
• Geographic limitations
• Waiting periods that have expired (good news -- you might have new benefits available)
• Activity exclusions (especially for travel and life insurance)

Step 5: Check Your Premiums Against the Market

Loyalty doesn't always pay in insurance.

• Get comparison quotes from 2-3 other insurers
• Check if your no-claim discount is being applied correctly
• Ask your current insurer about loyalty discounts or bundling options

For medical insurance, tools like BimaSasa make it easy to compare your current plan against 40+ alternatives -- so you can see if you're still getting value for money.

Step 6: Review Your Deductibles and Excess

Higher deductibles mean lower premiums. But can you afford that deductible if you need to claim?

Ask yourself:

• Could I comfortably pay KSh 50,000 out of pocket right now?
• If not, maybe a lower deductible (and slightly higher premium) makes more sense

Step 7: Check for Life Changes That Affect Cover

Major life events that should trigger an insurance review:

• ✔️ Marriage or divorce
• ✔️ Birth of a child
• ✔️ Buying or selling property
• ✔️ Changing jobs or starting a business
• ✔️ Taking on a loan or mortgage
• ✔️ A parent moving in with you or becoming dependent
• ✔️ Reaching a milestone age (30, 40, 50, 60)
• ✔️ Significant income change (up or down)

Our insurance needs analysis guide walks through how different life stages affect your coverage requirements.

Policy-Specific Review Tips

Medical Insurance

• Has your family size changed?
• Are you using outpatient benefits, or just paying for them?
• Has your preferred hospital changed network panels?
• Are maternity benefits still relevant (or newly relevant)?
• Are dental and optical riders worth the cost?

Motor Insurance

• Is your car's insured value still accurate?
• Have you earned a no-claim discount?
• Do you still need comprehensive, or is third-party sufficient for an older car?
• Any new drivers in the household?

Life Insurance

• Does your cover reflect your current income and dependents?
• Are riders (critical illness, disability) still appropriate?
• Is the policy on track if it has an investment component?
• Have you named a backup beneficiary?

Home Insurance

• Does the rebuild cost reflect current construction prices?
• Are valuable items (electronics, jewellery) specifically listed?
• Has your area's risk profile changed (flooding, security)?

Business Insurance

• Has revenue or stock value changed?
• Are new employees covered under group policies?
• Do you need cyber insurance? (If you're reading this, probably yes)
• Are professional indemnity limits adequate?

When to Switch Insurers

Switching isn't always the answer. But consider it when:

• Your premiums increased more than 15% with no change in risk
• Claims were difficult, slow, or unfairly denied
• You found comparable cover at a significantly lower price
• Your insurer's service has deteriorated
• The insurer's financial stability rating has dropped

Before switching:

• Check for loyalty penalties or cancellation fees
• Ensure no gap in cover between old and new policies
• Transfer your no-claim discount where applicable

The Biggest Mistake: Doing Nothing

Most Kenyans don't review their insurance because it feels boring.

It is boring.

But so is changing your car oil. And you still do it (hopefully) because the alternative is an engine that seizes at 120 km/h on Mombasa Road.

An unreviewed insurance portfolio is a ticking time bomb. It might pay out perfectly. Or it might leave you exposed exactly when you need it most.

Don't gamble on "probably fine."

Final Word: Your Insurance Should Grow With You

The policy that was perfect in 2022 might be completely wrong in 2026.

Your life evolved. Your insurance should too.

One afternoon per year. A cup of chai. Your policy documents open on the table (or screen). That's all it takes to make sure you're properly covered, not overpaying, and ready for whatever comes next.

Make it a habit. Your future self will thank you.

🟢 Your Action Plan

Block 90 minutes this week. Pull out every policy you have. Go through the checklist above. Make one change -- even if it's just updating a beneficiary or getting a comparison quote.

That single session could be the most financially smart thing you do all year.