With the new year ringing in, now is traditionally a time to reflect and organize for the months ahead. Many people make resolutions in January, whether it’s something like getting in more steps, learning a language or just being more present in the moment. If one of your resolutions is budgeting or simply saving more money, don’t forget to look into your insurance policies. Keeping your coverage up to date and in line with your needs, new and old, can help make your year a little less stressful. Start your year out right and check out these helpful tips.

1. Renew Your Policy

Mark your calendar for the month of your policy renewal in the new year. You may also be able to enroll in automatic renewal; talk to your insurance company for more details. If you have any old policies you don’t need any more, make sure they don’t automatically renew.

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2. Update Your Insurance

Has anything changed recently, or have you gained new assets? Maybe you have a new driver in your household, or you inherited or were gifted fine jewelry or a large asset like a snowmobile for Christmas. Maybe you recently moved to a new home, got married or had a baby. You may need to update your insurance policies after big life changes like these. For example, you will want to make sure your teenage driver or spouse is covered under your auto insurance. You also may want to speak to your agent about adding riders to your specialty vehicle policies and adding items to your homeowners insurance like expensive jewelry, artwork, and musical instruments. You will also need additions and edits to your current policy if you’ve purchased a new home.

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3. Learn About Uninsured Motorist Insurance

While you’re looking into updating your policies, make sure your current auto insurance covers all your needs. Uninsured and underinsured motorist coverage is something to consider when talking to your agent. If you get into an accident with someone who has no coverage or not enough, this additional insurance may help with medical expenses and repair costs.

4. Look for Discounts

You may qualify for discounts from your insurance company. Talk to your agent and ask about available discounts, such as for being a safe driver or a good student. Other possible discounts include having a security system for your home, opting for paperless statements, automatic payments, driving an electric/hybrid car and more.

5. Bundle Up

You can save money if you bundle your policies together like your homeowners, life, umbrella and auto policies. Talk to your agent about whether bundling is right for you and your coverage needs.

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6. Consider Renter’s Insurance

Are you moving into your first apartment, or are you currently renting? Tenants need their belongings protected just like homeowners, and many communities even require it. Secure your belongings with renter’s insurance.

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7. Be Prepared for Emergencies

The new year is a great time to check on your emergency supplies and update evacuation plans. Is your fire extinguisher still in working order? Do you need to replace anything in your car’s emergency packs that is missing or damaged? Replenish what you need, and don’t forget to practice your fire escape plan to keep it fresh in your family’s mind. Practicing can also help you identify any alterations needed for a safer plan.

HomeFirst® Agency hopes you have a happy and safe New Year, and with these tips for reviewing your insurance coverage, you’ll be well on your way.

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