2015: Personal Insurance Review

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2015: Personal Insurance Review

A new year brings new opportunity, a fresh start. As 2015 approaches, many of us are setting new personal, career, and financial goals. Those goals can range from dropping or adding a habit, developing a strategy to grow your business or advance your current career position, or to simply review your current budget. Regardless of what you aim to achieve in 2015, consider a personal insurance review with an independent agent. A personal insurance review is a great way to not only save money, but to make sure your coverage protects against the specific exposures that relate to you. Here’s what you should look to review and discuss:

  1. Cost Savings: The most common reason for reviewing insurance coverage is to cut cost. Independent agents are able to review rates for current and prospective clients with several insurance companies. This approach saves a lot of time and offers policies that are not available through direct writers or captive agents. Insurance isn’t a one size fits all industry; make sure you find a company that fits you…an independent agent is a great resource to do so.
  2. Customer Service: Companies are constantly searching for new ways to meet policyholder expectations. Such ways include: mobile apps, online policy servicing, towing/roadside hotlines, preferred auto body shop recommendations, claims handling technology, social media communication and so on. An independent agent can help match you with a company that meets your expectations.
  3. Liability Limits: Your liability limits are the most important aspect of your personal policies. A home can be replaced; a substantial bodily injury or wrongful death liability claim could impact your financial status for life. Talk about your current limits. Are they high enough? Do you have an umbrella policy? The good news, good coverage doesn’t have to break the bank.
  4. Discounts: Consider combining all of your insurance with one company. Second, see if you apply for any job industry/career discounts (ex: CPA’s, teachers, engineers, and more). If you’re 50 and over and belong to a senior organization, you’ll have many different discounts available to you. Lastly, talk with your agent about your home and any updates that you’ve made. Discuss your vehicles and the drivers on your policy. If you have a young driver and they’re good students, there’s a discount!
  5. Deductibles: An independent agent will review your current deductibles for both your home and auto insurance. Increasing deductibles will reduce your premiums. Lowering deductibles will do the opposite and will increase your premiums. Being financially able to meet the deductible requirement in the event of a claim shouldn’t be overlooked. Find what deductibles work for your budget by weighing the different options.

Check your calendar for 2015 and set aside a date for your insurance review.  If you’re interested in scheduling a review with one of our agents, please contact us at info@colonialinsurance.net

Wisconsin Crime Alert: Phone Scam

Chicago residents have been experiencing a”one-ring phone scam”.  The scam uses auto dialers to target phone numbers across the county.  The phone call itself is not the dangerous part, it’s the call back.

Scammers auto dial targeted victims, let it ring once, and then hang up.  The victim then notices a missed call, and returns it.  The victim is then prompted with a message like, “You’ve reached the operator, please hold”.  During that holding period, the caller is being charged with a substantial per minute charge on top of an international rate.  Local authorities have stated that calls typically come from phone numbers with three digit area codes, making them appear as US based telephone numbers.

Common scammer area codes include: 268-284-473-664-649-767-809-829-849 and 876.

If you receive a similar phone call, check online directories for registered scam phone numbers.  If you’re a victim, file a complaint with the Federal Trade Commission and the Federal Communications Commission.