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Preparing for a Successful New Year

Preparing for a Successful New Year
Here are some suggestions to help you prepare for a new year in terms your insurance needs:

1. Review your current insurance policies: Take some time to go through your existing insurance policies, including home, auto, and life insurance. Check if the coverage still meets your needs, and consider any changes that occurred during the previous year that may require adjustments in your coverage.

2. Assess any life changes: Did you marry or divorce, have a baby, or purchase a new home? Alert your insurance broker about significant life events to ensure you have the appropriate coverage. Failure to update your policy might result in insufficient coverage or even a claim denial.

3. Request and compare quotes: As a new year begins, shopping around for better insurance rates is an excellent opportunity. Contact us and ask for updated quotes to see if you can secure more affordable premiums or find better coverage options.

4. Bundle your coverages: Consider bundling your insurance policies with the same provider. Opting for a multi-policy discount can save you money while simplifying your insurance management.

5. Update your policy deductibles: Review your insurance deductibles to see if any adjustments should be made. Increasing your deductible can potentially lower your premium costs. Discuss this option with your insurance broker to determine if it suits your needs.

6. Conduct an inventory of your belongings: Take inventory of your valuable possessions, including electronics, jewelry, artwork, and other high-value items. Ensure you have adequate coverage for these items by discussing them with your insurance broker.

7. Consider additional coverage: Evaluate if you need additional coverage types in Canada, such as umbrella liability insurance. This policy can provide added protection beyond the limits of your existing liability coverage to safeguard your assets.

8. Review your auto insurance options: If you are planning to purchase or lease a new vehicle in the upcoming year, get in touch with your insurance broker to inquire about the potential impact on your auto insurance premiums.

9. Evaluate your risk management: Assess your risk exposures and determine if any risk management measures can be implemented. For example, installing a security system in your home may qualify you for insurance discounts.

10. Schedule an annual insurance review: Lastly, consider scheduling an annual insurance review with your insurance broker. This will provide an opportunity to discuss your changing needs, understand policy details, and explore potential cost-saving measures.

We invite you to reach out to us for personalized advice based on your specific circumstances and coverage requirements. 1-800-649-2640