The New Year is a time when many re-evaluate their finances, goals and health. Additionally, this is a perfect time to review your insurance policies. Listed below are the top 3 reasons to ensure that your loved ones, auto, home and business are sufficiently covered in 2019.
- Added Coverage:
Think about all of the assets you have obtained this past year and lifestyle changes you have experienced. These modifications could include buying or renovating your house, getting married, having a baby or increasing your assets. Everything from new furniture to a new room remodel update can impact the worth of your family’s house and may leave holes in your present policy.
- May Not Need Certain Coverage:
Circumstances and lifestyle situations are continuously changing- there might be a possibility that you’re paying for coverage you no longer need. If you had a fancy sports car and traded it in for a family friendly vehicle you could save on your coverage. No need to overpay for coverage you are not using. Some insurers will reduce premiums – for example if you no longer have that fancy sports car or changed to a healthier lifestyle then you should talk to your insurance agent.
- New Year, New Rates:
Insurance premiums often change because of things like local crime rate, current storms as well as fire or carbon monoxide protection in your home. If your home upgrades annually included things such as installing new security devices, a security system or possibly a water leak detection method then you might be eligible for new discounts in your homeowner’s policy. Also you should check for premium increases. When most gains are valid and may be clarified by your own insurance agent, occasionally increases are caused by errors. It’s important to notice any changes and explore them.
A Few Tips:
- Create a reminder about your renewal date so you have plenty of time to prepare
- Re-evaluate your needs. Life changes and so should your coverage
- Don’t focus on price alone. Choose the policy that offers the best value. Consider product inclusions, deductibles, exclusions and coverage limits
- Make sure the information you provided to the insurer about yourself and the assets you are insuring are still accurate. Gifts and purchases made throughout the year can quickly add up. Check you have enough insurance and make sure any new assets are covered by your policy
As you start 2019 be sure to look at all your life changes and goals. Make sure you do not have any gaps in your current coverage and you have what you need to make this year a great one.
Call us at 571-418-1709 to allow us to do a free insurance review for you.