Now that the hectic holidays are over, it seems to be a good time to tune up your insurance for 2014 and beyond. A good place to start would be by creating your home inventory.
If Christmas brought you a new TV, computer or digital camera, now is the best time to update, (or create) your home inventory for insurance purposes. If you don’t already have an inventory, you can create one using a simple spreadsheet or table from Microsoft Excel or a similar application. After you complete it, place the file in a safe place and make sure to keep a backup of the file in a location away from your home. Another option is to use the free inventory service;Know Your Stuff, from the Insurance Information Institute, (knowyourstuff.org).
Once you’ve updated your inventory, check your homeowners insurance coverage. You may need to increase your coverage or add a rider to cover new valuables, such as fine jewelry or artwork. Sometimes circumstances change that would make you eligible for discounts. For instance, did you install an alarm system? If so, make sure to let your Agent know.
The same goes for your auto coverage. If you’ve recently retired or are now driving fewer miles, some auto carriers will change your rate. If your teenage drivers are getting straight A’s in school, letting your agent know could result in a reduction in premium. And make sure to ask about other discounts.
And take a look at your Life Insurance to make sure you have the proper coverage. As always, if you have questions, contact your Independent Insurance Agent, who will be happy to guide you through what can be sometimes a complicated process.