As we venture into the New Year, it’s time to reflect on the happenings, both good and bad, of the past year and evaluate your insurance policies to guarantee you’re covered in the coming year. It’s a good time to ask yourself: “What could possibly go wrong over the course of the coming year?” Consider your business, family, property, home, health, vehicle, etc. How would your insurance company respond if the worst scenario occurred?
A lot of things can change over the course of a year, and in some cases your insurance may should change, too. Take a break from your healthy-eating and weight-loss goals to educate yourself on what your insurance policies are doing for you and take these steps to get your financial house in order.
- Evaluate your life insurance coverage. Major life changes, such as a birth, divorce, remarriage or even a new mortgage or new job, are indicators that you might need to make changes to your life insurance policy.
- Asses your homeowner’s insurance. The New Year is a good time to account for your assets and ensure they’re covered under your current policy. A detailed home inventory is the best way to determine the appropriate level of coverage needed. It’s also a good idea to know your deductible amounts and check to see if you’re eligible for any discounts.
- Review your auto insurance. Driving underinsured is not a good way to enter the New Year. Examine your deductibles for comprehensive and collision coverage. Talk with your agent to determine how raising or lowering this amount would affect your premium.
- Double check your health is covered. If you recently enrolled or changed your health insurance, make sure you have your new insurance cards and before you visit a doctor, verify that they are in your provider network.
- Calculate commercial coverages. The end of the year is busy for many businesses, but it’s still important to review your commercial insurance coverage. First, take inventory of your business. Be sure you have coverage for all locations and aspects of your business. If you’ve purchased new real estate or equipment, added new operations, expanded your online presence or made any other drastic business changes in the past year, be sure your insurance agent is aware.
At J.R. Prewitt, we are committed to understanding your needs and delivering customized services that fit those needs. With a highly-personable and expert sales force, we can accomplish this. We would be happy to meet with you and discuss strategies that will empower you and/or your company in fulfilling insurance needs for the New Year. Contact us today!