New Year's Insurance Resolutions

The start of a new year is a great time to commit to starting new habits or ending bad ones. It’s also a good time to plan for any big changes coming your way in the next 12 months so you can buy the appropriate insurance for them.

Insurance gives you extra peace of mind when the unexpected happens, and the good thing is that there is insurance available for virtually every life occurrence or personal possession. Think of it this way—you wouldn’t go skydiving without a parachute. Why would you not have insurance that will protect you, the people, and possessions that mean the most to you?

With this in mind, let’s look at just a few major occurrences that could mean new or adjusted insurance coverage:

·         Life events.  Marriage, new baby, divorce, retirement, death—each of these milestones are important and need the right protection…sometimes several different lines of coverage.  For example, getting married might mean event insurance (for the wedding itself), travel insurance (for the honeymoon), valuables protection (for wedding jewelry), a homeowners’ policy, and life insurance.  Milestones like marriage, a new baby, and divorce would affect your life insurance, so notify your agent if you anticipate one of these life events this year.

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          Home remodeling projects. Your home is one of those ongoing investments—there’s always something to work on.  If you’re planning a major home remodeling project, such as an addition, new façade or roof, it could mean an adjustment to your homeowners’ policy. Also, if you purchase any valuables, such as jewelry, art, or antiques, these items can also be included in your policy. (Keeping a home inventory list is another good habit to get into. List all of your home’s contents on a spreadsheet or an easily-accessible location so if anything gets lost or stolen, it makes the claim process easier for everyone. This list should be updated every year.)

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      Changes to your driving status. If you’re in the market for a new car (which will likely come equipped with a host of safety features), adding a new driver, or your car is older and needs less coverage, all of these factors will affect your car insurance coverage in various ways. Discuss any changes with your agent so they can find you a new plan or adjust your existing policy accordingly.

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            Traveling abroad. Whether you’re planning to travel abroad for home, business, or volunteer work, insurance is always a good investment. You can purchase a policy for the trip itself, so you are covered if the trip is cancelled or cut short, and there are international medical and health insurance plans available—most regular health insurance plans may only cover a portion of your expenses (at most) if you get sick or injured while traveling.

ETA Benefits works with several carriers that can meet all the insurance needs above and many more! As independent agents we have the flexibility to shop around and select the plans with the best levels of coverage at the best price for our clients.

Are you planning any big changes in 2018? We’d love to hear from you in the comments below!