Springtime is the perfect time to give all your insurance policies a “once over,” to make sure you are adequately and sufficiently protected.
If you haven’t done it in a while, it’s definitely worth taking the time to get your auto, home and life insurance plans in order and up to date. As our life circumstances change, so do our insurance needs. For example, you may need to buy more life insurance because of a growing family. Or perhaps there’s a new driver in the household to add to an auto insurance policy.
Here are some tips to help you “spring clean” your insurance:
1. Auto Insurance: Check to see whether your auto insurance needs a tune-up, or if you might need to change your collision or comprehensive coverages. A collision policy pays to fix your own vehicle after a crash, while comprehensive pays for damage not caused by collisions. A comprehensive policy covers losses from such things as theft, fire, vandalism or storms. Having collision and comprehensive policies is important if you drive a newer vehicle that would be costly to replace or repair. Make sure you get all the discounts you’re entitled to.
2. Homeowner’s Insurance: When updating your homeowner’s policy, make sure you’ll have enough insurance to fully replace your home if it’s badly damaged. Replacement value is not the same as the market value. You’ll need enough money to pay for the labor and the materials needed to restore your home to its former condition. Create an updated inventory of home possessions. That way you’ll be able to give an accurate account of what was lost in a fire, natural disaster or burglary.
3. Life Insurance: Updating your life insurance beneficiaries. For example, if you’ve divorced, you may need to remove an ex-spouse from your policy. If you have term life insurance, make sure you’re aware of when the term ends, so you’ll have time to shop for another policy if necessary. Otherwise, you could face a major premium hike. Consider what amount of life insurance is appropriate. Some people want just enough to cover burial expenses.
At Hometown Insurance Agency we get you the best possible value for the best possible price. We use many insurance companies to compare rates and current market conditions and we always make sure you are covered to your exact specifications. And remember, if you have any questions about your policies, or need information or updates, feel free to give us a call at 631-589-0100 or visit our website at www.hometowninsurance.com.