1. You open your dusty insurance folder, the one with a Clinton/Gore or a Bush/Quayle sticker on it, and it has your policy information…. from 1992, 2000, and 2008.
2. Everything in your life has changed but your insurance is EXACTLY the same.
3. Your insurance company is the same one your mom and dad had when you got your license in the 1980′s. Since then, your parent’s agent retired and 5 other agents have come and gone. You are not Larry, Jane or Bob – you are “Policy #12-456189129027.”
4. You have not reviewed your coverage, limits, deductibles in more than 5 years.
5. Your agent is a legendary golfer in town. Plays all the time. I mean – allllll the time.
6. You have assets you didn’t used to have: equity in your home, 401K plan, and some other stuff! You also have some additional liabilities you didn’t used to have: teenage driver, a second home you rent out, a boat. However, you have no idea if you have an umbrella policy or even what it actually covers.
7. Your wife has a several thousand dollar wedding ring and you can’t remember if it is covered on your home policy or through a separate policy with your jeweler. Or is it covered at all???
8. You have no idea if your agent knows if you have one of more of the following: home alarm system, teenage driver who is a good student, new furnace, new roof, or good credit (factors into your insurance score).
9. Your home insurance has doubled the past 7 years and you have had no claims.
10. You have not discussed life insurance in 10+ years. Since then, your income has doubled, you have two more kids, a mortgage, still have a college loan to pay-off, and no college pay plan in place for your kids. You have a modest permanent life policy; however, you haven’t discussed if you need some additional ‘term insurance’ to fill the gap between what your family would need if you passed and what you currently have in place.
Thanks for reading!
“Rockford’s Insurance Coach”
Eckburg & Bates Insurance Agency
(815) 979-4045 Twitter: @FrankHaney_Biz Email: Frank@FrankHaney.Biz
Disclaimer: This article is for informational purposes only. There is no legal advice being suggested or offered. The author assumes no responsibility or liability for the actions taken or not taken by the readers based upon the above-mentioned information.