Spring is the season for fresh starts and rebirth. From the breath of life blooming around us to the clean slates we create for ourselves, fresh starts abound! One area of your life that probably needs a good spring cleaning is your insurance. In fact, focusing your spring cleaning on the right coverage can help you save on your insurance – our experts are here to tell you all about it!
Areas to Focus On
Before we guide you through the specifics of your insurance spring cleaning, it’s helpful to start with a clear picture of the policies you should focus on. In this guide, we will be honing in on the following insurance poicies:
How to Spring Clean & Save On Your Insurance
Now that you have a clearer picture of where to focus your spring cleaning energy, it’s time to get to how your efforts can save you some serious money on your insurance!
1. Re-assess Your Needs
If you’ve faced a life change as major as marriage or as minor as a promotion, your insurance needs have probably shifted, too! That’s why now is the perfect time to re-assess your coverage needs. If you’ve downsized to a smaller home or moved into a larger space, make sure your home insurance policy isn’t more or less than what you need! If you added some new bells and whistles to your RV, car, or boat, you may need to add to your current plan. If you’ve welcomed a new baby to your family, it may be time to re-assess your life insurance needs! These are all important milestones that should be well-protected with the right coverage.
2. Review Your Current Policy
Once you’ve taken an in-depth look at your coverage needs, it’s time to take an even closer look at your current insurance policies. One of the most common problems many homeowners encounter is unwittingly overpaying for insufficient coverage. For example, newlyweds may find that they are hosting a lot more family gatherings. In this case, you may want to increase your personal liability coverage. If you’ve moved further away from family, you may benefit from decreasing your liability coverage. If you have a term life insurance policy, don’t miss your annual renewal – this often results in a serious hike in your premium!
3. Shop the Market
Although it may be more complex to shop the market in some areas of coverage, you can almost always expect to find new savings opportunities by shopping your auto and home insurance each year! Especially in the wake of this past year, many insurance providers are offering new discounts on auto and home policies, with so many now working remotely and travelling less. If you now work from home, there could be greater coverage out there for your home office. Furthermore, if you no longer have a significant commute, it’s worth exploring the market for the best auto policy discounts!
4. Trim the Fat
In some cases, it makes perfect sense to trim the fat on your coverage. For example, if your car is older (over 10 years), it may not be necessary to pay a pricy premium for comprehensive and collision coverage. If you recently chose to downsize to a more manageable living space for your golden years, it may be time to explore areas in your home insurance policy that you can trim down. While trimming the fat on your insurance policies is a straightforward way to save some money, it may not always behoove you in the long run. That’s why it’s a good idea to travel this path with the guidance of an insurance specialist!
5. Update Your Beneficiaries
While an update to your beneficiaries may not always result in savings, it’s usually necessary when you face bigger life changes. If you’ve recently been divorced, you should definitely make an update to your beneficiaries, if you don’t wish to include your ex-spouse on your policy! On the other hand, if you’ve recently had a child or grandchild, you may want to add them as beneficiaries to your life insurance.
6. Work with a Pro
Although you know your own lifestyle, needs, goals, and plans better than anyone, sometimes it takes an expert’s touch to build the best coverage to meet them! The right insurance specialist can help you shop the market and identify available discounts you may not have even known about. Additionally, the right pro will be able to help you choose the coverage that will protect what matters most to you.
Save On Your Insurance with Lifetime
Save On Your Insurance with Lifetime
At Lifetime Insurance, we grow with you, and we make sure your coverage does, too! From protecting your first home, to insuring your life savings, we make sure you have insurance policies that will cover you. If you’re ready to spring clean and save on your insurance policies, give us a call at (972) 771-2622 or visit our website today!
Save On Your Insurance Today!
We’ll find you the right coverage at the right price. Click “Learn More” to start saving!