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Year-End Insurance Checkup

What’s Your Insurance Resolution For 2019?

December is the perfect time to reflect upon the past year. An opportunity to have in mind all the things we want to change in the next year. For sure, it’s hard to keep our New Year’s resolutions, but when it comes to changes that may considerably affect our lives, we should try our best to avoid sliding back into our same routines. Let’s take this time of year to take a few steps to make the coming year even better.

Read on to find out how to make an insurance checkup for the upcoming year.

Flood Insurance

This is a great time to request a free flood zone audit to check if there have been any changes to your property’s flood zone. This could help you save a lot of money or even change the flood zone for your property.  

Homeowners or Renters Policy

  • New Items: If you have bought new items for yourself or your house, such as a TV, jewelry, or electronic devices, it is a smart move to let your agent know. Your homeowner’s policy protects valuables against loss or theft, but coverage is only provided up to a certain limit. When you make a substantial purchase, review your policy and possibly increase your limits and coverage.
  • Pets: Keep your policy up-to-date as bringing animals into your home can affect your homeowners or renters coverage. Speak with your agent and make the necessary adjustments.
  • Home Remodeling: Major home renovations usually increase the value of your home, and they can also raise the cost of rebuilding it in case of loss. So,  make sure you speak with your agent to re-assess your home’s value and cover any increases or exposures, before and after remodeling.

Life Insurance Policy

Your life insurance policy is in place in case the unthinkable happens. Take some to discuss it with your agent, as you need to rest assured your family protected in case you die.

Auto Policy

If anything significant happened to you last year, it is essential that you tell your agent. Any major life changes may cause gaps or overlaps in your auto coverage, and even qualify you for additional discounts.

  • New Job: Changes to your commute can change your risk factors and perhaps your premium.
  • New House: A new place can affect your premiums or qualify you for a “homeowners” discount.
  • Getting Married: Changes in your marital status can have changes in your coverage, especially if you are adding/removing your spouse to your policy.
  • New Car: Check with your agent before buying a new car. Know your premium levels beforehand to make the smartest buying decisions.

You might not need to make any changes to your current policies. However, it’s always wise to meet annually with your agent to make sure you have the coverage you need and require up-to-date.

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