New Year New Insurance?

Why not?  When was the last time you changed companies?  When was the last time you actually made your agent or broker actually earn their commission.  Make them actually shop around, we are in a competitive market here in New York why not take advantage of it.

How do you start? 

Pretty simple, two steps;

  1. Start with a “baseline” of coverage that you are comfortable with having in place.
  2. Talk to 3-5 companies to see where your rate compares.

That’s it.  Worst case scenario you feel really good about your rate.  Best case you save some money and maybe find a better agent.

The Anatomy of a Car’s Value

2003 Volkswagen Jetta GL:  So according to KBB.com  the Good Trade-in Value is $1700 and Fair is $1125 so maybe I am around $1500.  Now private party says $3225 and Fair is $2525, let’s keep being reasonable and say $2875 as the private party we won’t use retail because this car is not in excellent condition.

How about Edmunds?  A little different process here comes up with $2734 as a trade in $3752 as a private party, same thing here retail seems a bit high.

So KBB average with my adjustments is $2187.50 and Edmunds is $3243  that is about a $1000 difference.

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?