The New Year is the Perfect Time to Review Your Insurance Coverage
One of the most important New Year’s resolutions you can make this year is to conduct a thorough review of your insurance coverage. Why? It can help you know that your home and belongings are fully protected, and it provides an opportunity for us to address any gaps in coverage that we find. We will sit down with you and ask a number of questions that will help us gain a better understanding of your circumstances—while you learn more about your coverage and where you might have additional or different needs than in the past.
Before your review, consider putting together a home inventory. This is hands-down the best method for determining if you have sufficient coverage for the contents of your home. You can prepare it on your own, or we can suggest tools to help you.
After you prepare your inventory, call us and we can begin discussing your current 
coverage and additional options that might be available for you. Some of the things we will discuss include:
- Do you have replacement cost or actual cash value coverage on your homeowners policy? It is important to know the difference and how each will affect how you will be reimbursed in the event of a loss. Replacement cost coverage is preferred, and even if you have it, it is vital to review your coverage amount every year to account for changes in building materials costs and other factors that can affect the replacement cost of your home.
- Do you need flood insurance or sewer backup coverage? Neither of these are covered under your standard homeowners insurance policy. Flood insurance is available from FEMA’s National Flood Insurance Program; we can help you secure this coverage. Sewer backup coverage is available as an endorsement to your homeowners policy.
- Should you change your deductibles? You should be familiar with your deductibles so there are no surprises if you have a loss. Raising deductibles is a common way to lower insurance premiums. We can help you determine if this is the best course of action for you.
- Are you eligible for any additional discounts or savings opportunities? Things may have changed during the year and you might be eligible for new discounts or other ways to lower your rates. We can talk about home security discounts, multi-policy discounts, safe driver discounts, good student discounts and more. In addition, we can determine if there are any ways in which you can save money.
Working with Clark-Mortenson Insurance on your annual insurance review will be one of the easiest New Year’s resolutions to make and carry out. Call us at 877-352-2121, or e-mail us at beready@clark-mortenson.com, to make an appointment, and we will do the rest.
