Spring is the traditional time of year for cleaning, organizing, and down-sizing—ridding yourself of unnecessary things to make room for future necessary items.
Speaking of necessary, ‘Spring Cleaning’ time is a great time to not just go through your physical belongings but look over your insurance coverages as well, according to the Insurance Information Institute.
Risk Managers are Financial Advisors are needed now more than ever with rising replacement costs, changes in technology and new coverages. It’s important to take some time to look over your policies (some of which can be 100 plus pages) and ask yourself some questions and speak to individuals like us.
1. Did I buy any expensive items this year?
If so, you might want to make sure that your coverage is up to par. Meaning that your limits for theft/replacement are enough to actually cover your things if they were to be stolen. Even better, consider a special personal property endorsement or floater.
However, remember that the value of your items can either decrease over the years or increase. Thus, make sure you are having your belongings periodically appraised.
2. Do I have proper coverage for my jet-ski, ATV, boats or RV? or personal property liability insurance for my pool?
These items in order to be properly insured need separate policies or endorsements to have proper liability and property coverage.
3. Did I install a burglar alarm, fire alarm or leak detection system? Is my home a ‘smart’ home?
Security measures or any investments you might have taken to protect your home from weather damage can actually save you money. In many cases, these extra precautions can lower your premium.
Everyone has different exposures and therefore different types of coverages. At myStarke, we do yearly renewal reviews, but if you ever think you may have a new risk or exposure, or no longer need coverage for one—call your agent today and we will make sure your policies are tailored to your currents needs?
Not currently insured with myStarke? Let us quote your home and auto by giving us a call or clicking here!
