The Natwick Insurance Team thinks it is a good idea to start each new year by reviewing your insurance coverage because home, auto, boat and other insurance needs change over time. A growing family, new jobs, moving or buying/selling autos are just a few examples of changes that can affect your insurance coverage and premiums. Too often, policy holders purchase insurance and assume they will never need to make a claim and file the policy away, they rarely take the time to review it to confirm everything is still protected.
Insurance is there in case of an emergency, it is always wise to make sure it covers what you will really need.
When it comes time to use your insurance you’ve paid all year for, the last thing you want to learn is that you don’t have enough coverage or the right coverage. We also think it is important to review your policies to ensure you aren’t paying for coverage you don’t need.
The start of the new year is a good time to update inventory of your possessions. You will need to provide the insurance adjuster an accurate list if you have to make a homeowner’s insurance claim. More than likely you acquired some new things over the year or you might have been given a valuable gift like a new TV or jewelry. Having a list of your contents that should be accounted for in your home in case of a loss will allow you to get them back (or the value of them back) without tapping your bank account.
If you are like me and don’t like making lists and checking it twice… you can make a video recording of your home and your personal possessions inside. If there is a theft or fire, you will have proof that you own the items you are claiming. This is where details really do matter… some policies cover for replacement cost while others will pay only the actual cash value, meaning you’re reimbursed for the depreciated value of an item (think garage sale prices). Do you know what your policy actually covers? Let the Natwick Insurance Team review your policy with you to ensure you know exactly what you are covered for.
With housing prices increasing, other than your personal contents in your home, you will also want to review your policy to ensure your home insurance coverage's remains high enough if you ever must rebuild or repair at today’s construction prices and building codes.
Natwick Insurance also recommends reviewing your auto insurance policies. The amount you drive, and which vehicles are being used to drive will make a difference on your premium. If you have changed employment or residence and your daily commute isn’t as far as it used to be you could find savings by re-quoting your policy.
One of the things that will have the largest effect on your auto insurance premium is your driving history. Making a resolution to driver safer and avoid distractions like texting while driving will help ensure your auto insurance doesn’t go up! If you had a year without any accidents and/or tickets, then let’s review your insurance to see if your good driving history can save you money by re-quoting your policy.
Knowing what your auto insurance actually covers is just as important as knowing your homeowner’s insurance coverage… Comprehensive coverage, towing and car rental insurance will be important if your car is damaged in an accident. How about UM (Uninsured or Under-insured Motorists) coverage, do you have it? 23% of Florida drivers are not insured, what happens to you if you’re involved in an accident caused by that un/under insured driver? Does your auto insurance have you covered?
If you are not sure about your insurance coverage's and/or if you just want to review your insurance policies contact the Natwick Insurance Team at 321-735-0381 or Info@NatwickInsurance.com to help you fully understand all of your insurance policies and what they cover.
Natwick Insurance is your full-service independent insurance agency who has been Providing Insurance Solutions with Personal Service since 2006.