An Insurance Check-Up for 2019

The new year has officially begun, and everyone wants to make it the best ever. People are joining gyms, cleaning out closets, and donating clothes. They’re getting started on those long to-do lists before their New Year’s enthusiasm runs low. But your body and home might not be the only things that need attention. When did you last examine your current insurance policies and adjust them to fit your changing needs?

Do it now! We’ve compiled a short list of items to check on this month so you can start 2019 with your affairs in order.

 

Update your homeowner’s policy

  • Notify Hibbs if you’ve put a new roof on your home or replaced the HVAC unit in the last year or so.
  • Check to make sure any recent home additions are covered.

 

Take inventory of your possessions

  • Film or photograph valuable items in your home and keep the images in a fireproof box.
  • Take stock of any expensive jewelry you may have received during the holidays and “schedule” it on your homeowner’s policy. Typically, policies only cover jewelry up to a certain amount—unless those items are scheduled on the policy for an agreed value.

 

Consider your life insurance

  • People tend to put off life insurance—but you never know when tragedy will strike your family. It’s best to be prepared, so if you don’t have a policy yet, contact Hibbs today for a quote.
  • Take stock of your family’s needs and decide whether or not you should increase your life insurance policy to care for them in case the worst happens. Consider any marriages, divorces, births, home purchases, or inheritances that may have changed your circumstances.

Review your auto insurance policy

  • Compare your liability limits to the current value of your car and make sure you’re fully covered in the case of a terrible accident.
  • Revise your policy if you now have teenaged drivers in your home. We usually recommend a $1 million umbrella policy for households with teens—if it’s in your budget, of course. The added insurance will protect your assets in case your child becomes involved in a terrible accident that results in litigation.