We’ve all been to the doctor for an annual check-up. Well, a coverage review is similar to a check-up, except that with a coverage review, you are reviewing all of your current coverages in your insurance policies to make sure you have sufficient protection in case of disaster striking.
Having an insurance agent that you can call is a sure-fire way to ensure that your policies are up-to-date with the appropriate coverages. And, as your life changes, so should your insurance policy. When you call your insurance professional, you will have the opportunity to add or subtract coverages depending on your current, specific needs.
When you call your insurance professional for a coverage review, you should be ready to tell him or her about any life changes that have occurred since your last check-in. These include but are not limited to: personal information (mailing address, phone number, email address, and all of the family members living in your home). Be certain to make them aware of any name changes due to marriage or divorce, or if you’ve recently had a new little addition to your family. When you have accurate, up-to-date information on your policy, it will help ensure there are no delays in the event of an insurance claim.
When you contact your insurance professional, you will need to inform him or her of any changes to the drivers covered under your policy. This could be a child about to get their driver’s license or someone living with your who makes regular use of one or more of your vehicles.
If you have upgraded your home in any way i.e. renovated your kitchen, remodeled a bedroom or finished a basement, you’ll need to report those changes to your agent. They will be able to update your policy to reflect these changes. Whenever you make major improvements to your home, it increases the value of your home. As a result, you may need in a higher limit on your homeowners insurance policy. If you fail to make these changes to your policy, you may be left with a coverage gap. Coverage gaps can leave you underinsured if you need to repair or rebuild your home if the unexpected happens. Guaranteed Replacement Cost is the perfect way to make sure that no matter what happens, your insurance will have you covered. With Guaranteed Replacement Cost, you won’t face financial ruin.
If you’ve recently purchased any new boats, ATVs, or golf carts, you may want a different insurance policy. While insurance may not be required for watercraft and off-road vehicles, they are still a significant investment that should be protected. The same goes for valuables such as musical instruments or jewelry. Be sure to send a copy of your home inventory to your insurance agent. With that information, they can help you determine whether or not you need personal valuables insurance.
If you have recently retired or if you are working from home, because of the fact that you’re not making that daily commute, you may be eligible for discounts on your auto insurance.
Safe Driving Discount: If you have a good driving record with little to no claims, you could be eligible for a discount on your auto coverage.
Car Safety Equipment Discounts: If your car is equipped with safety equipment like factory-installed air bags, passive restraint, anti-theft devices, and anti-lock brakes, you could get a discount on your auto policy.
Multi-car Discount: If ERIE insures more than one car that you own, you could get a discount. All cars on your policy must be owned by you and driven by only the drivers listed on your policy.
Multi-policy Discount: If you have a qualifying life insurance policy or home policy in addition to your Erie auto policy.
Reduced Usage Discount: If you do not use your car for a least 90 consecutive days during the policy period, you could be eligible for a discount.
Young Drivers: Unmarried drivers under the age of 21 who live with their parents may be eligible for savings on their auto premium.
Annual Payment Plan: If you pay your premium in a lump sum, you could get a discount.
Changing Your Deductible: Generally, you can lower your insurance premium by raising your deductible.