Has COVID-19 Changed Your Insurance Needs?

Road sign with insurance options

There are numerous ways in which COVID-19 has changed our personal lives as well as our communities in general. Some changes are easy to identify while others are more subtle. Reliable Agency has identified some changes you may have experienced that may affect you and your insurance policies. If any of these resonate with you, a quick phone call or email to your agent may be in order.

WORK-FROM-HOME BECAME A REALITY FOR MANY PEOPLE. If your commute is now from the bedroom to your home office with a pit stop at the coffee pot, it is likely that your car is being used much less than in the past. Your auto insurance carrier might offer discounts because of it. If the mileage you’re putting on your vehicle has dropped significantly, it is possible that your insurance company will reward you a bit for not being out on the roads as much as you used to be. But you’ll need to request the adjustment.

ID THEFT AND CYBER ATTACKS ARE INCREASINGLY COMMON. If you have started using your home internet for work use you should make sure your computer’s firewall and your anti-virus software are up to date, especially if you use a personal computer for work purposes. Would-be hackers know that many of us are working outside of the normal work environment and that many home networks don’t have the same level of internet protections in place. Be careful with your password usage, keep data backed up, and be very careful if you ever need to work in public places like coffee shops or airports. Having identity theft protection is more important now than every before.

RECREATIONAL VEHICLES AND BOAT PURCHASES. Perhaps you started spending more time outdoors and decided to purchase a new recreational vehicle or boat. This should go without saying, but these need to be insured properly to ensure that you aren’t placing yourself at risk of being underinsured. Having insurance is important, but having the correct insurance is of paramount importance.

YOUR EMPLOYMENT STATUS CHANGED. Extended grace periods and more flexibilty with the payment of your insurance premiums is still being offered by some companies under certain circumstances especially if your income has been affected because of COVID-19 complications. If you are having difficulty paying your insurance, talk to your agent. Instead of missing a payment, find out if you have other options.

SHOPPING FOR LIFE INSURANCE. While it is possible to get a new life insurance policy amid the pandemic or even after having contracted COVID-19 yourself, some companies will make it more expensive to open a new policy. The application process has likely changed from past years, but your health insurance agent can help you through this process. https://www.valuepenguin.com/life-insurance-coronavirus-faq 

YOUR HOUSE IS WORTH MORE NOW. Your agent needs to know if the value of your home has been updated following an appraisal or tax valuation. If you were to suffer a catastrophic loss and had out of date insurance information, you run the risk of not being able to cover all the costs involved.

HOME IMPROVEMENTS MAY EARN YOU DISCOUNTS. Have a new roof? Upgraded your electrical system? Put in a new driveway? Cut down trees hanging over utility lines? Many of these can affect the costs of your home insurance. But if your agent wasn’t made aware of the changes, you might be missing out on discounts/updated policy costs. Not every improvement affects your rates, but it is worth mentioning them all so your agent can make sure your policies are as accurate as possible.

RELIABLE AGENCY HAS A MOBILE APP! Download Reliable Agency’s mobile app to keep track of all your insurance policies or download and print auto ID cards. Never run the risk of losing them again! Just search for Reliable 24/7 on your phone’s app store and download the free app. You’ll need to know your policy number and email address on file to get signed up. Or, you can contact your agent who can activate the account for you.

Contact us today if you would like to have one of our agents review your policies. Reliable Agency doesn’t ‘sell insurance.’ Instead, our agents are hard-working advisors that help you find solutions to your insurance needs.

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