New Year’s resolutions are the opportunities we give ourselves to improve something in life or improve the way we live our lives– whether it’s exercising more, eating out less, spending less money or something simple like reading more books.
In 2017, why not test out a few of our insurance resolutions that can be better for your bank account and your peace of mind?
Here are 3 insurance resolutions to make for 2017:
1. Take an inventory or your home or business
The purpose of insurance is to protect your assets and give you the ability to rebuild and recover if you experience a loss. This year, take some time to document your assets so if there is a disaster, it will be easy to keep track of the damages and help you recover your losses quickly.
If you have questions on how to take inventory of your home, talk to you local insurance agent for guidance.
2. Ask if you qualify for discounts or a lower premium.
If you aren’t sure, ask! Especially if the result can mean more money in your pocket. Although premiums are determined based on the level of risk an insurance company must take in order to provide you with ample insurance coverage, it never hurts to ask if there are any available savings or discounts.
Also ask if there are any actions you can take that will result in a discount, like installing a new roof, putting fire alarms in your home or installing an alarm system to deter burglars.
You can also lower your premium by raising your deductible, this is the amount you pay for loss before your insurance coverage kicks in.
3. Ask about potential gaps in your coverage
There’s no better way to ruin a week, a month or a year, than to experience an accident and learn that you don’t have the right insurance coverage. For example, if you have certain high value items they may not be covered under your homeowners policy.
Same with flood insurance–most homeowners don’t know that flood insurance is not included in homeowners insurance policies.
Taking action to talk to your insurance agent about these three insurance resolutions can help keep money in your wallet and help you feel confident that the insurance coverage you have and the prices you pay are the best for you and your needs.