Scheduling an annual insurance review is key to ensuring your 2018 continues on the right path. Much like having an annual physical exam, an insurance checkup is key so that you know your policies are in top shape and that the needs of you, your family, and your business are being met.
Allow us to share five suggestions to help you get started.
1. Request a current Schedule of Insurance. This will provide you with a snap shot of your coverages at the time of your request. Once you know what coverages are in place, you can discuss the need for any additions, deletions or changes with greater confidence and understanding.
2. Schedule a meeting or a telephone call with your agent to review ALL your policies. This will include an overall review of your Personal, Commercial, as well as Life and Health insurance needs. This is a great opportunity to review your entire portfolio including property values, deductibles, and any need for additional (excess) liability coverage. We recommend the best time to schedule this call or visit is at least 30 days before your renewal date or if you are thinking about purchasing a new location, vehicle, boat or any other type of major purchase.
3. Speaking to your insurance agent is another opportunity to discuss any changes that have occurred in your life, such as the purchase of a primary home, a rental property, a vacation home, the birth of a new baby, a new business venture or even a change in your current business operations, or personal status. This may be a good time to also discuss health care options, long term care insurance for you or your parents, life and/or disability insurance or retirement planning. Your agent can assist you in making the right choices for you and your family.
4. If you are a business owner, perhaps your business is in growth mode and you are expanding by hiring more employees. You may be required by law to provide Workers Compensation Insurance and Short Term Disability or face steep penalties depending on your state laws.
5. Be sure to discuss areas where there may be opportunities for discounts such as multi-car, defensive driving, packaging auto, home and umbrella policies, non-smokers, burglar alarms and mature market discounts just to name a few. In today’s economic climate, any means of saving money is sure to help a family or business’ insurance budget.
For more detailed information, contact us today so that we can help you continue to steer 2018 in the right direction!