The end of another year brings with it a host of questions to answer and decisions to make. What gifts should I get for my friends and family? What are my plans for the holidays? What are my New Year’s resolutions?

Unfortunately, though, these preoccupations that crowd our minds at this time of year sometimes edge out one really important question that many people fail to pay enough attention to: do I have enough insurance?

Being fully covered is essential to your financial well-being, and insurance is not a “set it and forget it” type of product. You should be constantly reassessing your insurance needs and buying or dropping coverage as necessary – and the end of the year is the perfect time to do some thinking about this important issue.

So how do you know if you have enough insurance? Ask yourself these three important questions to find out:

1.Has my family situation changed in the past year?

Changes to your marital or family status is probably the most compelling reason to reassess your insurance needs. If you’ve recently gotten married or had children, it’s important to be sure that you’ve purchased a life insurance policy to protect your family in the event that your income is lost. In the whirlwind that comes with putting together a wedding or bringing home a newborn, a lot of people simply don’t make buying life insurance a priority. Don’t be one of those people! If your family situation has changed in the past year, be sure you have a life insurance policy in place.

2.Have I changed jobs recently?

Changes to your job can bring changes to your insurance coverage, so if you’ve moved to a new job recently, take note of what types of insurance you’re able to get through your new employer and plug up any holes by purchasing individual policies if necessary. For example, if your old job provided dental insurance but your new job doesn’t, be sure to get your own coverage.

3.Have I made any large purchases in the past twelve months?

If you’ve purchased a home or a car in the past year, you probably bought insurance as well. But just because you have insurance doesn’t mean it’s necessarily the best policy on the market, or that it provides enough coverage. Take the time to carefully review your policies and be sure that you’re comfortable with their terms.

Insurance is probably the last thing on your mind as the year draws to a close, but try to move it to the top of your priority list. Your future self could end up very grateful that you took the time to be sure you’re fully covered while you had the chance!