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New Year 2024 Insurance Tips

The beginning of the new year is an excellent time to review your policies. Whether you're

dealing with homeowners, auto, health, or any other type of insurance, make adjustments to

ensure you have addressed any life changes.

Here are some general insurance tips to help you get started:

Policy Review

Take the time to thoroughly review and understand your insurance policies. Note your coverage

limits, deductibles and any changes that may have occurred over the past year. Ensure

providers have your current contact information, address, and any other relevant details.

Changes in your personal circumstances can impact your insurance needs, including rates.

Bundle Policies

Having multiple companies for multiple types of policies could be costing you money. Consider

bundling multiple insurance policies with the same provider. Bundling, such as combining home

and auto insurance, often leads to discounts.

Maintain Good Credit

A good credit score can positively impact your insurance premiums. Pay your bills on time and

manage your credit responsibly to potentially qualify for lower rates. Premiums aren’t only

based on driving records and accident history alone, credit plays a role in the equation.

Ask About Discounts

Inquire about available discounts. Insurance companies often offer discounts for factors such as

bundling policies, safe driving, home security measures, and more. Student drivers may even

qualify for savings based on their grades.

Consider Umbrella Insurance

Consider adding umbrella insurance to provide additional liability coverage beyond the limits of

your standard policies. It helps provide protection when your home, auto, general liability limit

limits are exhausted. Umbrellas can help protect against claims that may be excluded by other

liability policies including claims for false arrest, libel, slander or coverage on rental units you

may own.

Consider Your Life Insurance Needs

Life insurance is your family’s financial survival plan and ensures your estate is left to the

beneficiaries that you designate. Begin the new year reviewing any private and employer

sponsored plans. Ask if employer sponsored plans allow you to maintain the policy after

termination, including retirement. It is also a good time to enroll in new plans for new family


Understand Policy Exclusions

Insurance policies and regulations can change. Check for any updates or changes in your policy

terms and conditions. Beware of any exclusions in your policies. Understanding what is not

covered can help you make informed decisions about additional coverage or precautions.

Update Home Inventory and Financial Documents

Keep records and documentation of valuable items for insurance purposes. This can include

photos, receipts, and appraisals. Ensure this information is kept in a secure, accessible location

in the event of a claim.

By following these tips, you can start the new year with the confidence that your insurance

coverage is aligned with your current needs, and you are maximizing potential savings and

benefits. If you have specific types of insurance in mind, feel free to ask for more targeted


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