How often should I review my insurance?

Well most people see their family doctor once a year for a checkup.  Most people do their taxes each year and have a review with their accountant.  If you have health insurance you probably review that at open enrollment each year.  As part of a sound financial plan all of your insurances should be reviewed each year.  Why?  Are your discounts and coverage adequate?  Could you do better?  Is your personal information up to date?

Want another reason?

New York No-Fault coverage, simple question…

If given the choice would you want $50,000 or $175,000? Easy answer right.  What if you could have $50,000 to pay for all of your medical bills and lost time from an auto accident or $175,000?  Another easy answer right.  Now check your auto insurance policy’s No-Fault(also called Personal Injury Protection PIP) section and make sure you have $175,000.  If you do not have the full amount please call your agent immediately.

If you are wondering what else your agent has not done for you call me immediately.

UPDATE 5/11/2015

DISCLAIMER

My ideas are just that, see the previous post on believing in accountability.  Some are fact based some are based on the law some are my own logic.  Choosing to use them or not to use them is up to you not me.  At the end of it all these are your insurance policies I might just help you buy them smarter.

5/11/2015 Update

All of the above remains true.  I would adjust it to say, most are fact based and all are then complimented by;

1. An understanding of the law

2. An understanding of the industry

Ideas and the reason I write

I believe in accountability.  I also know that there are a lot of pretty simple ideas and concepts that if followed can really impact your rates, your coverage and maybe your impression of insurance.  Hey if you have to pay for it it might as well be what you want.

5/11/2015  Not much has changed since the original posting date.  Still believe and think exactly as written above.  The difference is that the industry has shifted and I now have more ways to help improve your coverage and impression of insurance.