Happy New Year!
While you are making your resolutions, be sure to consider making some goals for yourself regarding your insurance coverage.
This being a time of reflection, there might be major changes in your life in the last year or some that you see on the horizon.
Here are some resolutions to consider:
Check Auto Insurance
When it comes to auto insurance, be sure to ask yourself this question: Do I know my coverage limits? Are they enough?
If the answer is no, don’t worry! Dig a little deeper to look up your policy details. Some things to keep in mind are the value of your vehicle and limits for liability and bodily injury for an accident. Another thing to keep in mind is if your policy covers accidents with uninsured or under-insured drivers.
After looking over your policy, you might want to verify that it still fits your needs. Are you driving a newer vehicle? Do you drive for a rideshare app? Are you confident that you will be protected if an accident occurs? Are you receiving all available discounts?
Midwest Certified Insurance Agency is here to help you review your policies and make sure that it covers you for what your unique needs may be.
Review Life Insurance
If you already have a policy in place, be sure to consider what has changed in your life since you first purchased it. Chances are, things are different now. Are your beneficiaries still accurate? Does the amount still fit to carry your loved ones through the unthinkable? Be sure to update beneficiaries and coverage amounts to reflect any life changes.
Life insurance is a critical component of a solid financial plan. If you do not have a policy in place, it is a smart move to purchase one.
Review Homeowners Coverage
Perhaps you have made some upgrades or renovations to your home in the last year, or you are looking at a new project this year. Be sure that your coverage is adjusted to reflect that by getting your coverage reviewed by Midwest Certified Insurance Agency.
Update your Home Inventory
After the holidays, it is possible that you have new items in your home. It is important to update your inventory with these items and check that the personal property coverage in your policy would cover replacement of their value. If you recently added a high value item to your home such as an engagement ring, fine art, or high-tech equipment, you might need to purchase additional coverage for it.
Some great apps for creating and updating your home inventory are Sortly, Momento, and Nest Egg.
Consider Umbrella Coverage
Personal liability umbrella coverage can provide an additional layer of financial protection for liability claims. This serves as a safety net for if a lawsuit or other unexpected legal issue exceeds your home, auto or other policy monetary coverage limits.
- Do you have additional liabilities? Everyday things can put you at a higher risk, such as:
- Carpooling
- Dogs/Pets
- Trampolines
- Pools
- Owning or using a boat, ATV or recreational vehicle
- Owning a rental property
