A New Year’s Resolution: Review Your Insurance with an Independent Agent

A New Years Resolution Review Your Insurance with an Independent AgentAs another year comes to a close, it’s time to start planning for what’s ahead in 2016. Are you looking for a New Year’s resolution that you can see all the way through? This year, make it a point to review your insurance policies with a local independent agent.

A recent national survey conducted for Trusted Choice® and the Big “I” revealed that most consumers have an alarming lack of knowledge about their insurance coverage.

Out of the total number of participants surveyed, 38% said they never conducted any research prior to purchasing an insurance policy. Almost 40% of survey respondents said they were not confident or only somewhat confident that they had adequate coverage. Additionally, more than 30% said they did not meet with or talk to their agent within the last year.

You deserve an insurance protection plan that’s customized to your specific needs and budget, providing you with Freedom from Worry®. When reviewing your coverage with a trusted insurance professional, consider the following:

  • Know the limits of your coverage. This sets the maximum amount your insurance company will payout in the event of a claim. Most times, it’s inexpensive to increase your policy limits in exchange for enhanced coverage. For example, increasing the limits on your homeowners policy from $100,000 to $300,000 can add as little as $25 to your annual premium cost.
  • Cheaper isn’t always better. Obviously price is going to be a factor when it comes to purchasing insurance. However, you shouldn’t choose coverage based on price alone. Keep in mind that every policy has varying deductibles, coverage limits and exclusions. Consider whether saving a few bucks now is worth the risk of not having the coverage when you need it most.
  • Don’t disregard discounts. A previous study by Trusted Choice and the Big “I” found that most consumers aren’t taking advantage of all of the discounts available to them. In the last five years, insurance companies have started offering new discounts that weren’t previously available. Check with your independent agent to see what discounts and credits you may qualify for.

To schedule a full review of your insurance coverage with a licensed representative, contact McGrath Insurance Group at 508-347-6850 or visit us at www.mcgrathinsurance.com.

*This article is written for informational purposes only and should not be construed as providing legal advice.