Insurance Resolutions for the New Year

While 2020 may have felt never-ending, the new year is finally here! During the pandemic, your lifestyle may have changed.  Whether you moved to the suburbs, changed jobs, started remote work, retired, or added to your family, it’s important to note that these new circumstances can lead to different insurance needs. 

Start 2021 off right by taking the time to review your policies and making sure you are still getting the most out of your coverage. We have put together a few insurance resolutions to help get you started in the new year. 

Review your Auto Insurance Policy 

If you have had any changes to your driving habits this past year, tell your agent to ensure your auto policy will cover you in case of an accident. Perhaps you’ve started working from home or recently retired, resulting in less time on the road. Driving less could qualify you for low-mileage discounts. Maybe you have a college student who will no longer need access to household vehicles or, on the other hand, a teenager who’s ready to be added to your policy.

Create a Home Inventory 

The new year is the perfect opportunity to update the inventory of your possessions. Whether you were gifted jewelry or an expensive gadget for the holidays or started a new hobby during quarantine, take the time to inventory your possessions to ensure you have enough personal property coverage. When disaster strikes and you need to make a homeowner insurance claim, you will need to know what you own and what it’s worth. Having a video or photo inventory of your belongings could help you recover your belongings’ actual value.

Update your Home Insurance

During the pandemic, there were many homeowners across the country making renovations to their homes. If you find yourself in this category, updating your home insurance after any upgrades is a must. An updated bathroom or a finished basement converted into an at-home gym, office, or entertainment center could increase the value of your home, meaning you may need more coverage. Similarly, if you added a fire pit, pool, or trampoline, you will need to increase your liability coverage. Having sufficient homeowners insurance will help protect you and your home. 

Add your New Pet to your Policy 

Were you one of the many who brought home a new furry friend this past year? While pets can bring the utmost joy to our house, they can also cause unintended accidents or possibly injure a guest on your property. Let your Bearingstar agent know if you have a new four-legged family member. 

Consider Life Insurance

If the current landscape has you thinking about life insurance, you are not alone. Many people are worried about themselves and their loved ones as the COVID-19 pandemic continues to evolve. These events have more people searching for life insurance as an added peace of mind for their loved ones. 

At Bearingstar, we believe, no matter the circumstance, life insurance is truly important. We have many carriers that do not require a medical exam, and we are issuing many policies a day. However, with guidelines possibly changing, if you’re planning to buy life insurance shortly, your best bet may be to jump on it sooner rather than later.

Whether it’s your home, auto, or another type of insurance, Bearingstar recommends you review and update your policies annually. The start of the new year is a great time to take care of your insurance review because it allows you to reflect on all the life changes that have taken place throughout the past year. Contact your local Bearingstar agent to make sure your policy is up to date!