Insurance Check Up

Have You Had Your Annual Insurance Check-Up?

by Amy Newland

With rising costs and summer quickly approaching, now is a great time to take inventory of your insurance. It’s no secret that home and auto premiums are on the rise and it’s more important than ever to conduct a review of your policies with your agent. Here are just a few questions I’ve heard recently and some answers to each.

HOW CAN I KEEP MY HOME PREMIUMS LOWER?

As a homeowner, it’s important to take measures to safeguard your property from potential claims.

• If your home is in a wildfire zone, make sure that any combustible materials are more than five feet away from your home.

• Keep up with proper maintenance of your appliances.

• Have your roof checked – and if you need a new roof, consider an impact-resistant shingle for additional discounts.

• Bundling your home and auto coverage can offer additional savings.

• Improving home security can also score more discounts.

• Are you a big box store retail member? American Family Insurance now offers up to a 5% discount on home and auto policies for all big box store members!

• Consider raising your deductible.

MY VEHICLE IS OLDER, WHY ISN’T MY AUTO INSURANCE CHEAPER?

• While it’s true your vehicle ages, the costs associated with repairs are not going down.

• Thefts of catalytic converters and certain older vehicles are on the rise.

• The costs of medical treatment and the likelihood of being in an accident are higher as well.

WHY SHOULD I GET LIFE INSURANCE FOR MY CHILDREN?

• Future Insurability: health is unpredictable, and at any time your child’s health could change. Securing life insurance now guarantees they have coverage now and into the future. In most cases, juveniles and young adults are not required a physical medical exam with American Family Life Insurance.

• Debt: If your child will have any debt (including student loans), protecting that debt with life insurance is a simple solution.

• Cost: It’s VERY inexpensive to secure life insurance for your child. However, the cost continues to increase every year you wait.

DO I NEED INSURANCE FOR MY RECREATIONAL VEHICLE?

• If the recreational vehicle has a motor (i.e. boat, RV, snowmobile, ATV, electric bike, etc), then yes. Like auto insurance, coverage for your recreational vehicle provides you with liability, as well as uninsured and underinsured motorist protection.

• If the recreational vehicle doesn’t have a motor (i.e. camper trailer), then it depends. The liability will extend from the towing vehicle, but if you want coverage for the camper trailer itself, then you will need to purchase a policy with comprehensive and collision coverage for any physical damage.

Generally, it’s a good idea to review all your insurance needs at least once a year – be sure to meet with your agent and take advantage of all the discounts available to you. If you have a major life change, it may have an impact on your insurance needs. The review itself may only take 20 to 30 minutes, depending on your risks.

Amy Newland Team at American Family Insurance

Contact us: My team and I are available in the office or by phone, video chat, email, and even text!

Give us a call at 719-686-4216 to schedule a time to talk; I’d love to meet you!

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