Time for an insurance check-up !
Carl Schindler , LUTCF , CSA Agent , State Farm Insurance
Carl Schindler is a 40-year State Farm Insurance agent in Morgan Hill . His agency has been voted # 1 in Morgan Hill for the past 5 consecutive years . He specializes in Auto , Homeowner ’ s , Life & Disability Insurance . Visit StateFarm . com / CarlSchindler or call ( 408 ) 779-6969 .
When was the last time you reviewed your insurance coverage ? Just as getting an annual medical check-up is a sensible way to maintain your health , reviewing your insurance policies annually can provide peace of mind and may save you money . As you review your policies , here are some questions to keep in mind :
Homeowners Insurance
• Does my coverage keep up with current rebuilding costs ? If my home sustains serious damage due to a fire or a severe storm , does my policy cover rebuilding costs ? If not , you might want to consider increasing your coverage .
• Does my recent home renovation affect my coverage ? If you have added square footage to your home recently , its value may have changed . Check with your insurance agent about increasing your coverage .
• Does my policy cover new purchases ? If you bought a new appliance or computer over the last year , make sure your policy covers replacement costs due to a fire or theft .
• When was the last time I had my luxury items appraised ? If you have expensive items such as jewelry , furs , coins , artwork , and antiques that have not been appraised recently , you might want to consider doing so . Having up-to-date insurance can help take some of the sting out of replacement costs in case of theft or damage .
• How can I lower my premiums ? If your premiums are too high , consider raising your deductible . A higher deductible could lower your premiums , but will also make you more responsible for a greater portion of each covered loss .
Auto Insurance
• My teen recently got a driver ’ s license . How does that affect my auto insurance ? If your teen is now driving , let your agent know and be prepared for your family auto insurance premiums to rise . If your teen stays on your insurance , it is still cheaper than purchasing a separate policy . But keep in mind that insurers may offer discounts to high school and college students who maintain a B average and complete a driversafety program . Students who complete a Graduated Driver Licensing ( GDL ) program may get a lower rate .
• Can joining a carpool help lower my rates ? By driving less , you can lower your auto premiums because you are putting fewer miles on your vehicle per year .
• Does my car ’ s value affect my insurance ? If you have a much older vehicle , look up its value to see if carrying collision and comprehensive coverage is still cost-effective . If the car ’ s book value is low , it might not make sense to maintain comprehensive and collision coverage .
• What else can I do to lower my rates ? If you increase your deductible , you can substantially reduce your monthly premiums . Life Insurance
• We ’ ve just had a baby . Should I increase my life insurance coverage ? Purchasing more life insurance can help cover the costs of your child growing up if something unexpected should happen to you .
• Does my recent marriage affect my life insurance ? If you have recently gotten married , you might want to increase your life insurance coverage or change the beneficiaries on your policy . Having more life insurance could make your family ’ s future even more secure .
• How does my new job / layoff affect my coverage ? If you recently got a better paying job and are planning to expand your lifestyle ( a new home , a bigger car , etc .), then getting more life insurance might be a good idea . If your life insurance policy was tied to your old job , you might want to consider starting a new policy that suits your current needs .
• How much life insurance do I currently need ? To find out how much life insurance you might need , use the handy life insurance calculator at statefarm . com / insurance / life / resources / life-needs-calculator /.
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