All Around Old Bridge Jan 1.4

Page 18



Michael Vitale 104 Interchange Plaza Suite 102 Monroe Township, NJ 08831 Cell: 201.306.5988 Office: 609.655.3066 x255 Fax: 609 .655.4959 Email: When was the last time you laid eyes on your auto or homeowners insurance policies? How recently have you reviewed your life insurance policy? Most likely your answer is ‘when my current insurer initially mailed or emailed the policy to me’. Those policies are either buried in a virtual inbox or stuffed in a cabinet in your home office, never to be reviewed again.

If you have not had any motor vehicle incidents or homeowners claims in the past few years, any cost increases you incur are usually chalked up to normal yearly inflation. If you have received a ticket or been involved in an accident, the subsequent cost increase may become lost in the yearly renewals. Since auto and homeowners insurance is associated with a fee, the whole issue is oftentimes met with a contemptible feeling...consumers become upset with the rate they must pay for the ability to legally drive a car or own a home in this state. Many consumers are either underinsured or grossly overpaying, possibly both, for their current insurance policies. Their policies are sometimes forgotten in the shuffle of routine bills... they become part of the household ‘status quo.’ This sentiment, although common and understandable, does not usually account for life changes. Many people are unaware that they may qualify for discounts and reductions based on various life events. Have you recently graduated college? Were you recently married? Are you a new homeowner or a new parent? Did you


replace the roof on your home or do a major renovation that may require additional coverage this year? These are just some questions your current agent should be asking in a review of your policies. As consumers, we all have a responsibility to ourselves and to our families to be diligent in reviewing our insurance policies on a regular basis. Maybe a quick conversation with your agent can result in a rate reduction, or more appropriate coverage, for you and your family. As with auto and homeowners insurance, life insurance can be a slightly confusing topic - many consumers do not fully understand the true value of the coverage that a policy may provide. Different life insurance products offer predictable ways for families to protect their unpredictable future. There are various products that may even be used in some form at any age, and not only as result of a tragic event. However, unlike auto and homeowners insurance, there are no set parameters for when, or if, you must obtain life insurance. At some point, each consumer needs to analyze their current life situation, assess current priorities and future needs, and discuss


future goals. Then comes the question... how do you protect that future to the best of your ability? Speaking with a licensed agent can provide you with critical information to help you and your loved ones now, and in the future. Insurance is a fact of life, but having insurance is a far cry from understanding it. Many people do not understand the meaning or impact of the numbers and coverage rates in their policies. They do know and understand one number for sure - the final price! The lowest price may not always provide the proper coverage. A licensed insurance agent is your best tool when you need help understanding the value of certain coverage for you and your family.

In the upcoming editions of this paper, I hope to assist in shedding light on some different aspects of your insurance policies. As an insurance agent, a husband, and father, my goal is to provide you with information to help you understand your policies, and to inform you how to seek out a fair rate for appropriate coverage for you and your loved ones. Does this make you want to search through that old cabinet, or review those old emails, to find out more about YOUR policies? Michael Vitale Licensed insurance agent appointed to SELL personal lines products through Liberty Mutual

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