Do you know exactly what personal insurance you carry? Perhaps it’s some time – perhaps several years – since your life insurance, PA auto insurance or home insurance policy was first purchased, so it’s understandable that you might not be certain what insurance protection you have in place.
Read through the small print of your insurance policies if your understanding of their terms and conditions is a little hazy. Make sure that you are clear about inclusions, exclusions and coverage for each of the policies.
- Study each policy’s exclusions. Take note of exclusions that might affect you; for example some life insurance policies exclude payouts if the insured engages in extreme sports, so you might want to investigate this further if you enjoy adventurous sports.
- Be sure that you are aware of your policies’ inclusions; for example, would your auto insurance policy compensate you for your belongings in your car’s trunk if they were stolen?
- Look carefully at the level of insurance coverage provided by your policies. Would the coverage in your home insurance policy still provide sufficient compensation to replace your belongings and allow your home to be rebuilt after a disaster without leaving you out of pocket?
Our lives change all the time, and insurance policy features and coverage that were appropriate for your situation a few years ago, may not be adequate for your current circumstances. Talk to your insurance agent after reading through the terms of personal insurance products like your life insurance in PA if you feel you may need to review coverage.