We all will agree to the fact that most resolutions are meant to be broken. With the start of every new year, we take certain resolutions but with the passing of 1-2 months, we hardly give any further importance to them. But there are certain resolutions which you should stick to, come what may. Resolutions regarding insurance is one such thing. You should make sure that you spend wisely and get more coverage for yourself.
Let's take a look at some of the New Year's resolution regarding insurance:
1. Update the inventory of your possessions: If you ever want to claim home insurance, you will have to provide the insurer with a correct list of your home inventory. If you don’t keep a list of your inventory, you won’t be able to claim them when you claim your home insurance. If you can’t make a list of the inventory, then you can do a video recording of the inventory.
2. Look for ways to cut your life insurance costs: In order to cut your life insurance costs, you should take steps to stay healthy. You should try to stop smoking and lose weight. You can also make sure that your non-working spouse or domestic partner, too, has the right amount of life insurance coverage.
3. Alert your auto insurer about your driving habits: You must be knowing that auto insurance premiums are tied to your driving habits and the type of vehicle you own. So, you should inform the insurer if there is a change in your driving habit or vehicle. Earlier when gas prices were low, people used to drive big, luxurious cars. Now, with the gas prices at an all time high, people prefer driving small and compact cars. This can make a difference in terms of your insurance premiums. You can even consider dropping collision and comprehensive coverage on older vehicles in order to save money. You may also take the resolution to drive safely.
4. Trim your health insurance premiums: If you want to lower your health insurance costs, then you should take steps to become more educated about your health care. If you’re one of them who rarely goes to the doctor, then you can go for lower premiums with the help of higher insurance deductibles.
5. Don’t skip the flood insurance: In a research it has been found that in case of 90% major natural disasters, flooding is involved. However, there are many at-risk homeowners who skip this important insurance coverage. You should make sure that you have a flood coverage if there is even a moderate chance of home damage due to the rising waters.
6. Make sure to have an earthquake insurance: There are many states in U.S., which fall into the earthquake prone zome. California is known to have the highest risk of earthquakes. Thus, if you are residing in a earthquake prone zone, make sure you take out an earthquake insurance.
Hope you will give importance to these insurance resolutions this year and make yourself safe and secure!!