Insurance Tips for the New Year

   A new year brings with it opportunities to review new health, home, auto, and life insurance options. Here are some important tips to help make your decisions a little easier:

1.    Health policies
•    When picking health insurance policies, there are many important aspects that need to be accounted for. How far is the closest emergency room in your network? Are you focusing on you New Year’s resolution of losing weight or giving up smoking? Even though these may seem like minor factors when considering health providers, some plans offer smoking cessation or diet programs at lower costs than others. 
2.    Home and auto policies
•     Are you paying for collision and comprehensive coverage on an older car? If you're in an accident, most policies will pay up to what your car is worth, minus your deductible. You may want to evaluate the car's value against what you're paying for that coverage to decide if it still makes financial sense.
•     Home renovations can impact the value of your home. Make sure you still have enough coverage to rebuild in case of a fire or disaster.
•     Harris County homeowners should pay special attention to the potential need for floor insurance. Homeowners policies don't cover damage from flooding so it's a good idea to periodically review your need for flood coverage.
•     Take a look at the discounts your insurance company offers and compare them to other plans. Some plans offer discounts for multiple policies, so bundling auto and home insurance may make the most financial sense. Plans often add new discounts so looking over your insurance company's list every year could help you save money.
3.    Life insurance policies
•     Your income and family situation may have changed since last year. Check your life insurance policy annually to make sure it meets your family’s needs. If you’ve recently gotten married, had children, gotten divorced, etc., it’s time to update your beneficiaries.