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Happy New YearWell, everyone made it. You survived this Christmas if only with increasing just one notch on your belt loop. With that part of the holidays over, it’s on to the next one—The New year! With New Year’s just around the corner, this is the time that we all look over the past year and focus on the things maybe we’d like to improve, change, or abandon all together. Whether it’s getting the dust off the exercise equipment or saving a few bucks, resolutions are a must to start off 2016 great!  It’s also a great time to make and stick with some resolutions when it comes to your insurance.

Personal Auto Insurance - Because your auto premium can sometimes be tied to how often and how much you drive, make sure to alert your agent if there’s a sharp decrease in your mileage. If you have retired and no longer are going to work every day, communicate that as well. Evaluate your car. A few years ago your car may have been your only means of transportation and newer. Consider dropping comprehensive and collision off of older cars. Both of those would pay to repair your vehicle in the event of damage, but insurers will only pay to repair or replace up to the value of the vehicle. Paying for comp and collision may not be worth it.

Home Insurance - The New Year is a great time to update your inventory. After Christmas, the amount received may have increased exponentially. If you receive a large expensive items, consider scheduling it separately. Most home insurance policies put a per item limit, usually around $2,500, on certain things—usually, guns, furs, and jewelry. This can go onto a personal articles policy that are usually inexpensive. For example, we have my wedding ring on one and it’s less than $5 a month. With each year that passes, inflation causes the price of items to increase. Take this into account when looking over your personal property, and the value of your home.

Life Insurance - It’s a New Year just in time for a new you. If you’ve become healthier, lost a significant amount of weight, quit smoking, or got off some medications you may qualify for preferred rates on your life insurance. Exam your life insurance and make sure it’s right for your family at this time. Even if your spouse stays at home, they still need adequate coverage. Usually life insurance is to replace lost income, but it can also be for other things. Think about trying to hire someone to replace all the things the stay at home spouse may do. It can add up. It’s also a great time to check the financial strength of your insurance company. With all the changes to financial markets, it’s crucial to have a company with strong financial strength.

From our ECI family to yours. We wish you a Happy New Year and success in any resolutions you may make.


Avery Johnson
Contact Avery Moore
Call: (405) 373-2977


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