20 Mar
2011

Spring is a great time to refresh and clean out, and this means clearing up your insurance. If it has been a year since you have taken a look at your insurance, now is the time to take a second look. Your insurance needs change and the rates you qualify for may change, too, so it is important to review regularly.

Take out your homeowners insurance, car insurance, health insurance, and any other insurance you have. Are there any obvious gaps? For example, if you have dependents, you will need life insurance, too. Do you have adequate health and disability insurance? If not, you may need to get these policies to ensure that you have enough coverage.

Next, take a look at the insurance you do have. Is it adequate? Have you had to pay cash over the past year or two because of insurance you did not have? Maybe it’s time to increase the levels of insurance you have. Or, maybe you need to dial down your insurance. If your car is now older, you may not need as much comprehensive insurance as in years past because it’s value is lower.

Finally, take a look at your rates. Go online or call around – what rates do you qualify for now with the insurance you need? If you qualify for better rates, call your insurer and negotiate for lower premiums. If your current insurer refuses, do the math to find out the costs of switching. If you can get better insurance at a lower price from a competitor, you should consider the move.