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Insurance
New Years’ Resolution: Evaluating Personal Insurance Coverage
It’s that time of year when we make a list of our hopeful resolutions for the coming year. I would like to recommend an addition to that list – evaluate your personal insurance coverage.
CheCk yoUr aUtomoBile poliCy:
• Are my limits adequate to protect Me and my family in the event of a liability or property claim?
• Is it cost-effective to carry comprehensive and/or collision on my older vehicle?
• Are my deductibles too high or too low?
• Am I carrying the right amount of insurance if I am hit by an Uninsured driver?
• Is the medical coverage sufficient to protect me if I am injured in an accident?
review yoUr homeownerS inSUranCe:
• Is my dwelling coverage consistent with the cost to rebuild my home if it were a total loss?
• Do I have valuable items that should or could be insured specifically?
• Is the company offering any enhanced coverage that I may want to add to the policy?
• Are my liability limits adequate to cover a potential personal liability claim?
• Again, look at the deductible.
Is it too high or too low? Will the out-of-pocket deductible cause a financial or emotional burden on me if a claim occurs?
In general, ask am I happy with the insurance carrier, including its customer service and claims handling. Do my premiums seem high?
It may be time to get quotes from other insurance companies for comparison. Representatives from the AAA Insurance Agency can speak with you about any coverage concerns you may have. Additionally, AAA Insurance agents provide free, no-obligation cost comparisons, which should make evaluating your insurance coverage the easiest resolution for you to keep.
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