Thursday, 9 February 2006

Is Your Insurance Keeping Up?

It’s still early in the New Year, and to get the best value for your insurance dollars, it pays to review your policy, reports the Insurance Information Institute.

A recent survey found 32 million U.S. households have insurance policies that aren’t suited for them. Is yours one of them? The III recommends asking yourself 10 identifying questions about the past year, including:

  1. Did you marry or get a divorce? Marriage may qualify you for a discount on your car insurance. It’s also a good time to review your life insurance or consider purchasing a policy if you don’t have one. If you’ve divorced this year, separate car insurance policies could be necessary.
  2. Is there a new baby in the family? A new bundle of joy means taking a new look at your life insurance policy.
  3. Did your teenager get their license? Adding your teenager’s new car onto your own insurance is the best deal – you may receive a multi-policy discount.
  4. Did you change jobs? If you’ve lost the life insurance you had from a previous employer, you should consider replacing it with an individual policy. Also if your salary has either gone up or decreased significantly in the past year, you may want to add or cut back on the amount of life insurance you have.  

The III recommends giving your insurance agent or broker a call to discuss your current needs.

For more signs your insurance policies could use an overhaul, visit the III online.

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Posted by Insurance Quote at 9:57 AM in Insurance
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