TWS Offers Insurance Tips For 2017

A new year is upon us and one of the top resolutions for people in 2017 is to make better financial decisions. Often times, people overlook the costs associated with insurance, because they don’t’ understand it or don’t want to mess with changing it. When it comes to personal insurance, you want to be adequately covered if you do have a claim, but you do not want to pay more than you should. We recommend that you contact us before your personal insurance policies renew, so we can shop the market and compare options for you.

• Review your deductibles and limits – Are they adequate for your needs? Are you using your personal vehicle for Uber, deliveries, or other commercial use? If so, your vehicle may not be covered. Are you renting out part of your home? Again, you may need to adjust your coverage.
• Use an independent agent – Independent agents can access many different insurance companies and select the one that offers the best combination of coverage, service, and pricing.
• Do not buy insurance on the internet – Call us so that we can provide you with outstanding service along with competitive pricing.
• Maintain good credit – Regularly check your credit score, since a low score may affect your premium.
• Get an umbrella, or “excess policy” – This kicks in where your liability coverage for your auto and home ends, and is a necessity if you have any assets to protect. A $1 million umbrella is common, but $2 million is more realistic these days.
• Review your auto limits – If you have limits under $100,000 and you get in a serious accident that amount may not be enough to cover medical bills.
• Maintain a home inventory – Having an accurate account of your personal property can provide for greater recovery in the event of a loss.
• Bundle your insurance – Combine your auto, home, and umbrella policies with one insurer to receive greater discounts.
• Set the right deductible – A higher deductible reduces your premium, but you have to pay more out of pocket in the event of an accident.
• Consider identity theft coverage – Identity theft is one of the fastest growing crimes in the U.S.
• Buy from a financially strong company – Your insurance is only as good as the company who stands behind the policy. The insurance company should have an “A+” rating or higher.

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