What Should You Know About Your Insurance Policies?

from Gammons Insurance Agency Inc.

Feb 20, 2015

All of your valuables need to be protected. This means that you probably have multiple types of insurance. For each policy that you have, there are a few key things that you need to know. This applies to home insurance, auto insurance, health insurance, business insurance, and everything in between.

Take a look at each of your insurance policies, and make sure that you know the following six key points.

1. What your policy covers.

You buy insurance policies in order to receive protection, so you should know exactly what your insurance policy protects. Does your home insurance cover your valuable collection? Will your auto insurance cover you if you’re hit by an uninsured driver? Can your health insurance cover the cost of prescription drugs? These are all examples of questions for which you should know the answers.

2. What your policy doesn’t cover.

When you look into what coverage your insurance policies provide, you should also find out their weak spots. If your insurance policies lack any protections that you think you may need, ask your insurance agent about a supplemental policy to cover yourself – you may just thank yourself down the road.

3. Your premium and deductible amounts.

This one’s a no-brainer, but it’s still something that you need to verify occasionally. Confirm how much you pay for each of your policies, and know how much your deductible is in case you ever need to file a claim. You may want to set aside enough money to cover your deductibles in an emergency fund or savings account. This will give you the peace of mind of knowing that you’re financially prepared in case of a nasty surprise.

4. What you can do to lower your premium.

You can save yourself money on almost every type of insurance policy with simple actions:
Having a burglar alarm or smoke detector can save you money on your home insurance.
Driving less lowers your accident risk, and could equate to auto insurance savings.
Being smoke-free will lower most health insurance quotes.
Ensuring that your business provides a safe working environment could mean lower business insurance premiums.

5. When to update your policy.

Don’t forget to talk to us after major life events! If you move, get a new car, get married or divorced, if you have a baby or if your grown kids move out on their own, your insurance policies might need to be updated. In order to make sure that you have accurate insurance coverage, your insurance policy needs to reflect your current life situation, whatever that may be, so keep our phone number and email address on hand.

6. How to file a claim.

Make sure that you know how to use your insurance policy, should the need ever arise. Thankfully, if you’re a Gammons Insurance customer, it’s an easy process. Just call 508-947-3460 and talk to us about your insurance situation. We will start the claim process quickly, and will work our hardest to get you the reimbursement that you deserve.

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