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New Year Personal Insurance Checkup

New Year Personal Insurance Checkup

As 2016 comes to a close many people will be thinking about the future. Do you have New Year’s Resolutions? Have you made specific personal financial goals for 2017? The end of the year is a good time to take stock of the year that was and review your personal insurance to see if any changes need to be made. Here are a few points to ponder: Auto Insurance Since auto insurance is mandatory in most states, it is easy to just “set it and forget it”. You buy the policy, put the premium on auto-deduct from your checking account and motor off into the sunset. Here are some questions you should be asking yourself: Are all of my current autos on my policy? Have I sold, donated, or traded any vehicles in the last 12 months? Has my insurance agent been notified of any driver changes like a new driver or the departure of a driver due to death or divorce? Have any special modifications been made to a current vehicle that would change the value? Are my insurance needs being met by my current insurance policies? Do I have coverage I don’t need? Is there coverage I need that I don’t have? Another important question to ask: Do I know where my auto ID cards are? Many insurance companies now offer apps that include your auto ID card, or they allow you to print your auto ID card from their website. A good rule of thumb is to have two hard copies: one for your glove box and one for your wallet, even if you have an...