NEW year insurance evaluation

The start of a new year always is a great opportunity to set goals for the new year. Pulling out your existing home and auto insurance should be on the list of things to do. Every year changes and so do your insurance needs. 
What should you review on your home insurance? The most important part of your home insurance is the rebuild estimate. Every renewal will come with a rebuild calculator. Take a few minutes to review how your home insurance company is rating your home. Make sure all the bathrooms are accounted for. Make sure if you did any major improvements on the home in the last year they are added. If you put in a pool make sure you let your company know. If you replaced the kitchen with custom cabinets, "builder grade" coverage may no longer be appropriate. It only takes a few minutes to review these limits. You should also review your liability coverage. Make sure your limits aren't sitting at the minimum. For about 40 dollars a year you can increase your liability coverage significantly. 
The same thing applies to your Auto Insurance. Pull out the declaration page (that's the one with the coverage's).  Review what your deductibles are and what your liability limits are. If you have a home you probably have significantly more equity in the house since last year. Make sure your limits are high enough to protect those assets. For a few hundred dollars you can significantly increase those limits.
Umbrella insurance and Life insurance are also important pieces to your financial planning. Umbrella policies are an amazing way to protect your assets at very affordable rates. Life Insurance not only can protect your family it is a great way to protect your home. Having enough life insurance in place to pay off your home if something happened to either spouse is very important. It is a way to remove a huge burden if something were to happen.
It's 2020 and it is time to take a few minutes and make sure your finances are in order. An important part of that equation are your insurance policies. If you would like to review your existing limits give us a call and talk with an expert. 951-395-0754.