A lot can happen in just 365 days. Maybe you’ve moved, gone on the trip of a lifetime, or just faced the trials and tribulations of everyday life. The beginning of the year is a good time to start a new game plan for protecting you and your loved ones from what could happen over the coming 12 months. Here are a few things to consider as you re-evaluate your life, auto, and perhaps even motorcycle insurance policies for 2018.
Do I need more or less coverage?
Over the past year, you may have experienced some mishaps while driving, or maybe you had a pleasantly uneventful year. Maybe those auto insurance payments seemed too high, or you had to pay too much out of pocket for a minor fender bender in 2014.
Rethinking the type and level of coverage you have and what you might need is a good start to securing a new protection plan that’s right for you. If you’re adding a newly licensed driver to your policy, you may want to consider adding comprehensive coverage to help protect your wallet in the event your novice driver has a mishap with your car.
On the other hand, if you want to reduce your payments, consider raising your’ deductible, or depending on the age and financed status of your car, you may want to evaluate whether you need to keep comprehensive/collision coverage. With a higher deductible, you could reduce your monthly payment. However, with a higher deductible, or if you choose to drop your comp/coll. coverage, you want to make sure you have enough cushion in your bank account to pay for damages done to your car if you have an auto accident, as you’ll need to pay more out of your own pocket.
What about my Family’s future?
Sometimes it’s hard to predict what will happen in the coming year, but some things can be easy to plan for – a daughter turning 16 or a son going to college, an upcoming marriage or plans for buying a house. These circumstances could include a good bit of expense. Would your family be able to fulfill their plans if something happened to you?
When thinking about big investments,’ term life insurance’ is a serious thing to consider. Whether you’ll be taking on a new expense, like buying your kid’s first car, or be maintaining your regular contribution to everyday household expenses, your family depends on you. Make sure to consider how they would be taken care of should the unthinkable happen. With term life insurance, a set amount of coverage is guaranteed* at a very low monthly payment over a certain period of time, or “term.” If these next 6 or 12 months are going to be extra important to your family, think about better securing their financial future should something happen to you.
As your life changes, ABC Insurance Agencies may be able to save you more on insurance. Your ABC agent is regularly looking out for your insurance needs-which may change over time-to find the best fit for you! Call 800-708-0123 to speak with one of our friendly agents today or visit ABCAutoinsurance.com for your free quote today!