Insurance is an essential safety net for unexpected occurrences in your daily life, therefore it has to be current and updated on a regular basis. Below are some smart insurance resolutions for 2017.
1. Keep an inventory
Make a list of items in your house. Keep it updated because should there be a disaster, this list will guarantee that you don’t forget to claim anything. According to the Insurance Information Institute 48% of homeowners say they don’t have an inventory.
2. Understand your insurance
Ensure that you understand your policy. Read the policy’s declaration page. This will help you understand auto and home insurance. Scrutinize the summary of benefits of your health insurance. Be familiar with limits and deductibles. Be sure that you understand copayments and coinsurance for health care policies.
3. Quit smoking
Health and life insurance typically cost less for non-smokers. You therefore need to be smoke-free for at least a year to get non-smoking rates.
4. Improve your credit
Make resolutions to improve your credit rating because the worse your credit, the higher the risk you are to your insurer. You will be penalised with increased insurance premiums.
5. Do not leave the keys in your car
A car is stolen every 6 minutes, according to the National Insurance Crime Bureau. Auto theft with the keys or an electronic fob inside the car is up 31% since 2013. If your car is stolen and you don’t have comprehensive coverage, you will have to buy another car with your own money.
6. Stay in your kitchen when cooking
Cooking fires are the number 1 cause of home fires. Unattended cooking was by far the leading cause.
7. Find out the real price
64% of consumers who do not purchase life insurance, think that it is too expensive. Thus, obtain quotes. It may be cheaper than you think.
8. Tell your beneficiaries
Let your life insurance beneficiaries know where to claim money when you die. They do not need a policy to claim because knowing who your insurer is, is enough.