Happy New Year from Vermost Insurance Agency!
As we welcome 2024, it’s the perfect opportunity to reassess your insurance coverage and ensure it aligns with your current lifestyle and needs. Life changes, and so should your insurance. Here’s how you can conduct a thorough review.
Reflect on Life’s Changes
The start of a new year is an ideal time to consider significant life changes. Have you moved, purchased a new vehicle, or experienced other major events? These changes can substantially affect your insurance needs.
Home Insurance Updates
Home Improvements: If you’ve renovated your home, added new security features, or acquired valuable items like art or jewelry, your property’s value may have increased. It’s crucial to adjust your policy accordingly for adequate coverage.
Auto Insurance Adjustments
Vehicle Changes: A new car, alterations in your commute, or modifications to your existing vehicle are key reasons to reevaluate your coverage. Factors like increased or decreased driving frequency and switching to an electric vehicle can influence your insurance rates and needs.
Life Insurance Considerations
Personal Milestones: Events like marriage, a new baby, or a career change can impact your life insurance policy. It’s essential to ensure that your coverage amount and beneficiaries are current.
Key Aspects to Focus On
When reviewing your insurance, concentrate on three aspects: coverage limits, deductibles, and specific endorsements or riders.
– Coverage Limits: Reflect whether the limits on your home or auto insurance still mirror the value of your assets. Upgrades or additions might necessitate higher coverage limits.
– Deductibles: This is what you pay before insurance coverage starts. A higher deductible can lower your premium but means more out-of-pocket costs during a claim. Consider your financial situation; if it has changed, adjusting your deductible could be beneficial.
– Specific Endorsements or Riders: These are additions to your standard policy for extra protection. For instance, a flood risk endorsement or a rider for high-value jewelry. Assess if these additional coverages still align with your current lifestyle.
Partner with Vermost Insurance Agency
At Vermost Insurance Agency, we’re committed to helping you navigate these choices and update your policies to match your 2024 needs. We provide personalized reviews to give you peace of mind in the new year.
Ready for a policy review? Contact one of our Trusted Insurance Advisors today at 727-748-2886.