Tips to help you achieve your New Year’s Resolutions

We’re excited to welcome a brand new year with our customers. Many of you probably made a list of new year’s resolutions and we are here to help you stick to them and do our part to make them become a reality.

Here are some tips to help make your new year a healthy and happy year.

Looking to save money?

Let us review your policy. We can utilize the strength of our network to find an insurance policy that gives you the best coverage for the best price. There are many factors that can affect the cost of your premiums.

• Liability insurance coverage is mandatory for all drivers; however, comprehensive and collision are not. If you have an older vehicle that has reduced in value, you could consider removing collision and comprehensive coverage from your policy. In the event of an incident the car may not be worth repairing.
• You might also consider re-evaluating your deductible amount – the money you are required to pay out when submitting a claim. Having a lower deductible typically is more expensive on your insurance premium than having a higher one.
• You should also ask your broker about discounts from bundling your home and auto insurance.

Give your credit a tune-up.

It’s a good idea to sporadically review your credit report and make an action plan to fix any negative implications on your overall credit score. Some organizations claim to give you a free credit report – be wary of these and ensure you’re obtaining a verified credit report through a trusted organization. You can pay and get your credit report online or receive a free report by mailing in two photocopies of identification. It takes two to three weeks to receive the report.

• Once you have the report make sure you do a thorough check. If you find something odd such as credit cards you never opened, you might be a victim of identity theft and should notify the credit reporting company immediately.

• If you notice your credit isn’t in the best place – you can take steps to help improve your score such as reducing the limit on credit cards you don’t use or cancelling them outright. Having bad credit can impact many areas in your life – insurance being one of them. Insurance companies sometimes use credit information in setting home and auto insurance rates. People with good credit can sometimes qualify for lower insurance rates.

Stop driving distracted.

It’s against the law and it’s dangerous. Lock your phone in the glove box, turn it off, silence the ringer, do what you need to do to ensure your eyes are always on the road. Keeping your cell phone out of reach while on the road may not directly lower your insurance rates; but it helps prevent accidents and tickets, which can impact your premiums.

Planning a move?

Have you recently got married or expanded your family? Or maybe you’re now an empty nester. Is this the year for you to purchase a home? Consider this:

• There are benefits of buying new. Staying on budget is always your first priority when shopping for a new home, but buying a house that is 10 -years -old or less can help you save on your premiums for home insurance. Newer homes tend to have fewer problems and therefore you’re less likely to file a claim.

• Consider going green. Many insurance companies appreciate clients that are environmentally friendly and will even offer discounts to homes that use alternative energy such as solar panels. As an added benefit, going green in your day-to-day expenses can help you save money in general.

No matter what your new year’s resolution is, at BrokerLink we are here any time of the year to help you with your business, home or auto insurance needs. Contact a BrokerLink broker with any questions and let us help you make this a fabulous year.