It is a New Year! And if one of your goals for this next year is to better manage your money and your life, then it's time to take a look at your insurance coverage.
Wait - what?
Yes, your insurance coverage. Insurance is a major expense, and something that can protect you and your property. It shouldn't just be an afterthought, or something that is "taken care of". Spend some time each year reviewing your current coverages.
- Make sure that you are covered adequately. Check your limits and think about how prices have increased in the world around us. Does your liability limit need to increase to meet the risk?
- Check your values. Take a look at that number that you value your home at, or maybe your car, or your scheduled valuables. How are they being covered (check out our post on valuing your valuables if you need help!). Is there going to be enough coverage to get you back to normal should an accident occur?
- Check your policy count. This seems a little strange, but make sure that you have enough insurance policies, or that things are combined in a way that doesn't leave any gaps. There are a lot of different insurance coverages that often do not overlap. So if you are missing a coverage, call your insurance agent and make sure it gets added on.
The worst way to discover your insurance isn't adequate is to have something terrible happen, and then not be able to get back to normal. So take some time at the beginning of this year and review your insurance. You will be glad you did!
Have questions about your coverage? Want help with insurance this year rather than just muddling through? Give us a call at 800-843-2430. We'd love to talk to you!