Life Changes

As your life changes, so do your insurance needs...

Here are a few "life" situations that should be updated on your insurance policy.   

#1: Marriage

When you get married it makes sense to start combining insurance policies. Combining two car insurance policies into one policy could save you money. As you and your partner move in together and start combining property you need to revisit your homeowners insurance or renter’s insurance policy as well.  Contact your agent if you would like to add an engagement ring onto your policy.  You can list it as a scheduled item for extra protection in case of a loss.   

#2: Switching Jobs

If you have just landed a new job your driving circumstances may have changed. If the new job is farther from home, your annual mileage will be higher. Maybe you will be using public transportation and so you'll drive considerably less.  Make sure to let your agent know because you may qualify for extra discounts on your auto policy. 

#3: Joining a Carpool

With gas prices slowly moving up again, many people are trying to conserve by joining a carpool. This is a definite money-saver; just make sure that you have adequate liability coverage since you will be transporting more people on a regular basis.  Contact your agent to discuss increasing your auto limits.

#4: Refinancing

In recent years, Americans seeking to take advantage of low interest rates have lined up to refinance their mortgages.  It is a good idea to notify your insurance agent because the bank will be requesting an insurance “binder”.  The binder shows the bank that you have proof of insurance otherwise the bank will force coverage which can be very expensive.  Please give your agent proper notice so they can prepare the binder for you in time for your closing.

Stay tuned for more…