It was a rough winter for all of us in Massachusetts. The wind, cold, and snow seemed never ending. However, it finally seems like spring has arrived! We can finally see the ground, the first flowers of the year are poking through the soil, everyone’s spirits seem lifted, the Red Sox are back in Boston, and people are flinging open the windows and clearing out the dust and cobwebs from their homes. As you get into spring mode, remember that it’s also a great time to dust off and revisit your insurance policies.
It’s generally a good rule of thumb to review your insurance policies once a year because as your life changes so do your insurance needs. And what better time to do this than when you’re already in the mindset of tossing, fixing, storing! Here are a few things to keep in mind as you go through this exercise.
Car Insurance Policy: Make sure your coverage fits your needs. If you’re driving an older car, it might not make sense to still have comprehensive/collision coverage on your car. Alternatively, you want to make sure that you have enough coverage for a car that’s worth more.
Homeowners Policy: When updating your homeowner’s policy, you want to make sure you’ll have enough insurance to replace your home if it’s badly damaged. Have you had any or planning any major renovations? If so, you want to make sure adjust your homeowners coverage limits. If you have a claim, you’ll need enough money to pay for the labor and the materials needed to restore your home to its former condition. It may also be a good time to check to see if you need separate flood insurance. You can check if your home is in flood-risk area at FloodSmart.gov.
Check for Discounts: There are so many opportunities to bundle insurances these days, including homeowners, renters, auto, boat, etc. Check with your agent to see if you can bundle your insurances to save money.
Business Insurance: If you’re a business owner, it’s also a great time to check your policies as things may have changed in your business over the last year. If you’ve added new equipment, hired new employees, increased inventory, or moved, you want to make sure that you’re covered from every angle.
As always, please feel free to contact us J.K. Olivieri if you have any questions about your insurance policies or bundling. We’re happy to help!