2020 is over! For many people it was a rough year.  Don’t let 2021 be a rough year due to insurance related issues.  Here are a few things to think about when it comes to your insurance.

  1. Did you acquire any new jewelry in the past year? Home insurance policies vary greatly on how much coverage they provide for the theft of jewelry and how your deductible will apply. Policies can vary as low as $500 in coverage up to $10,000 in coverage. If you acquired new jewelry over the past year, it might be a good idea to talk with us on different ways that piece of jewelry can be insured.  You might consider a jewelry floater to better cover your jewelry.
  2. Have you done any home improvement projects? With Covid-19 squashing many people’s travel plans, that money has been reinvested into home renovations. If you’ve done any home updates, such as remodeling a kitchen, upgraded flooring or added an addition; it might be a good idea to reevaluate your home’s reconstruction cost.
  3. Are you working from home full-time or even more regularly than before? If you’ve transitioned to working from home, you might be leaving a gap in your insurance.  Home insurance policies will cap business property (your belongings that you use for business/making money) at a lower amount than personal property.  Your home policy also may have exclusions for customers or clients that enter your home. Give us a call to look at options to properly cover these risks.
  4. Has your income and/or assets increased in recent years? Your liability limits should keep up with your increasing wealth and income. An auto accident can easily cause over $1 million in damages to the other party. Your liability limits should exceed your income and assets so that a bad accident doesn’t mean your personal assets and income will be at risk.
  5. Have you started using your car to make money? Many people who were laid off during the lockdowns started delivering food for Doordash or Uber Eats.  Maybe you started driving for Uber or Lyft? Personal auto policies specifically exclude this type of activity.  Most companies offer an endorsement to cover ridesharing.  If you’re delivering food, you may need a commercial auto policy.  Give us a call and we can help you with the details.