Why to Review Your Insurance Policies at the End of the Year

Why to Review Your Insurance Policies at the End of the Year

Take this information into account when reviewing your insurance policies at the end of the year.  

In addition to all the parties and festivities that this season brings, it’s also a time for resolutions and introspection – even in the insurance world. Now is a good time to do some financial planning by reviewing your insurance policies. Not only does this help you understand your coverage, but it could also save you a few pennies!

Here’s what to look out for when reviewing your personal insurance policies.

Auto Insurance

  • Do you have an older car with no loan? It could be time to raise your deductible or drop comprehensive and collision coverage. Before doing so, find out what your car’s trade in or sales value is and whether or not it’s worth it to maintain full coverage.
  • Did you buy a new car this year? If you don’t have uninsured/underinsured motorist property damage coverage, it may well be worth adding it on now. It should be enough to cover your loan amount if you are involved in an accident and the car is considered a total loss.

Home Insurance

  • If you added square footage, remodeled the kitchen, or created a master suite, you may need to update your homeowners insurance. When your home’s value increases, so does your home insurance policy.
  • Adding a pool, trampoline, or rescuing certain dog breeds may require higher liability coverage.
  • Do you have or did you activate a monitored alarm system? It may be worth a discount! 

Do you need help selecting personal insurance policies? Before the year is up, give Gee Schussler Insurance a call – Our team of experts can help you determine what policies, deductibles, limits, and premiums are right for your needs so that you can enter the New Year worry-free. Visit us today for more information.