Time for an Insurance Check Up

For most of us, insurance is something we get when we buy a new house or car and then we never think about it again unless we file a claim.

As your life and financial situation changes, your insurance should change too.  Consider the following insurance situations and then call your agent for an annual check up.

Homeowner's Insurance
If construction costs have gone up significantly in your area or if you have added costly upgrades over the years, your repalcement value coverage may not be keeping pace with actual costs.  Insurance companies have charts with relacement costs in your area and they are generally very accurate, but if you have a lot of custom features in your home you definitely need to make sure the insurance company is aware of them.  You might think not telling them will save you money now, but it could mean settling for a home with far fewer amenities if your house is completely destroyed.

Don't forget to check your contents coverage too.  You may have much nicer furniture, clothes, jewelry, art, etc than you had when you were first starting out.

You may also want to consider a higher deductible.  You may have chosen a lower deductible when you were first starting out, but if you are more financially stable now a higher deductible could save you hundreds of dollars a year.

If you don't have your car insurance with the same carrier, you may want to change to qualify for a multi-line discount.