Common Insurance Changes with Life
Life is constantly changing. Whether it’s throwing you a curveball or you’re just growing older, it’s impossible to prepare for everything. However, it is possible to plan ahead! Encharter Insurance encourages our clients to be prepared with the proper insurance coverage. It’s important to plan for a yearly coverage review in order to protect you, your family, and your assets. You may not know that adding a detached structure to your property may mean you need to increase your homeowner’s insurance. Or perhaps you weren’t aware that having a new puppy makes having extra liability coverage that much more essential. While you may be wrapped up in the moment of your life changes, your insurance agent should be the next call after you share the news with your friends and family.
Take a look at some quick insurance advice for each of these scenarios:
- We just got engaged!
- We’re having a baby!
- We’re adding on to our home!
- My family is moving-in!
- Someone stole my identity!
- We bought a puppy!
- I lost my job!
- I started my own business!
A diamond is forever, just like your future spouse. We want to make sure that your diamond and your ring are protected. A Jewelry Floater policy will protect the value of your ring so that the sentiment is never lost. This policy is a supplemental policy on your home, condo or renters insurance policy, but provides the proper amount of coverage, insuring the full value of your engagement ring. To obtain a jewelry floater policy, you’ll just need an assessment from your jeweler. Before you give her the ring, you are able to schedule the item on your personal policy. However, once the ring is in her possession, be sure that she is scheduling the item on a policy in her name.
We’re Having a Baby!
Adding a new little one to the family is certainly a big event. Lots of aspects of your life are changing. The importance for a Life Insurance policy also increases, now that you have another life depending on yours. There are various types of life insurance policies, such as term life insurance, whole life insurance, or a combination of term & whole life insurance. While a term life policy only protects a specified amount of time, a whole life policy protects for the remainder of your life. It may not be something you want to think about at such a happy moment, but you’ll want to ensure that your family is taken care of in case something was to happen to you. From covering funeral costs to lost wages, a life insurance policy can be one of your family’s greatest assets. An agent will be able to walk you through the pros and cons of each, and help you chose the policy that will best protect you and your family.
We’re Adding On To Our Home!
Whether you’re remodeling your kitchen, adding onto an existing structure, or building a new garage on your property, the coverage on your Home Insurance policy may no longer be enough to keep your home properly protected. Your agent can help by asking the appropriate questions to make sure that the structure of your home has the appropriate limits. Leaving your new addition under-insured could mean a significant loss should something happen to your home. It’s important to check in with your agent each year to make sure that changes that you make, no matter how big or small, are still properly insured.
Moving back in with your parents, or even moving in with your in-laws, can be a stressful (or rewarding) experience all in its own. But don’t get caught in some sort of loss without the proper coverage for you and your belongings. While you may think you can rely on your hosts for insurance, you may want to talk to your agent about getting a separate Renters Insurance policy for additional liability and protection for your belongings. You’ll be surprised at the low cost and comprehensive coverage you can receive.
Someone Stole My Identity!
It’s one of those things that people say, “That could never happen to me.” But in today’s world with an increased reliance on technology, the odds have increased. In fact, 1 out of 10 consumers in the United States have been affected by identity theft. Instead of waiting until it’s too late, be proactive with Identity Theft Coverage. This is a supplemental policy on your home, renters or condo insurance to assist you in recovering your personal identity. Should you be hit with a lawsuit, bad credit scores or difficulty to obtain loans, this coverage can help get you through recovery.
We Bought a Puppy!
When you look into those puppy eyes, you would never think that something could go wrong. The reality is, however, that you never know what kind of trouble this innocent little guy or girl can bring. Some breeds of dogs are typically associated with a greater liability than others. Greater liability breeds can also affect your homeowner’s insurance premiums, and even affect whether or not you can receive coverage from some companies. It’s important to let your insurance agent know if you have added a new furry addition to the family. It then may be a good idea to look into an Umbrella Insurance policy. This extra liability coverage will ensure that even if your new puppy gets into more trouble than your home insurance policy can handle, you’ll have supplemental coverage for any lawsuits or damages. From medical injuries to damaged property, an umbrella insurance can come in handy.
I Lost My Job!
We know how stressful of a life change that this event can be, and we want to be there to help you get through it. While Encharter Insurance does not sell health insurance, we can direct you to an appropriate Life Insurance policy for the current situation. Relying on your company for your coverage can lead to higher premiums when trying to obtain coverage years later. And for some, factors such as health, age and whether or not you smoke can hinder your ability to get a life insurance policy at all. The best preparation is finding the life insurance policy that is right for you, separate from the policy provided by your company. Should you experience a job loss later in life, you won’t have to be worried about expensive premiums or lack of coverage. While choosing the right life insurance policy may seem intimidating, our agents can help you prepare for the future with the coverage you need.
Starting your own business is certainly a rewarding experience, but it is also one that you want to make sure has the proper protection. As one of your biggest assets, you’ll want to invest in a Small Business Insurance policy. Regardless of the size and number of employees, protection against lawsuits, accidents, or other unexpected losses is a top priority. Our commercial lines agents can help build you a customized package with the policies you need to keep you, your employees and your business covered. You may have taken a risk by starting your company, but you don’t want to risk losing it all.
Certainly, these are just a few of life’s adventures and curveballs. The agents at Encharter Insurance want to make sure that you’re properly prepared with comprehensive policies to fit your every need. We don’t believe in just getting you a quote, we want to be there to advise you should something change. From insurance-related questions to a full review of all your policies, our agents are here to help. The next time you’re asking yourself, “Now what?,” give us a call at 888.865.1244. For additional scenarios, download our Tips for Life eBook!Read More