New Year's resolution: Getting your insurance coverage in order for
of Insurance says it's a good idea to review your insurance coverage
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[January 07, 2013]
CHICAGO -- Illinois Department of
Insurance Director Andrew Boron suggests starting off the new year
by reviewing your insurance coverage. The department shares some
tips provided by the National Association of Insurance Commissioners
to help with the review.
"From homeowners or renters insurance to auto and health coverage,
policy holders should review their policies to make sure everything
is up-to-date and properly covered," said Boron. "Talk with your
insurance agent to determine if you need to make changes to your
Homeowners and renters insurance
This is a great time to update your home inventory. While the
holiday decorations are out of storage, take photos or video of your
stored trinkets. Make note of any antique items and their value, and
then talk with your insurance agent to ensure they are properly
Remember to add any new gifts to your home inventory, too.
Include details and take a photo of each item. Most basic home
insurance policies have standard limits for big-ticket items like
electronics, art, jewelry or sporting equipment. You may need
special coverage, so check with your agent as soon as possible to
discuss necessary changes for your policy.
Winter can be a challenge for all drivers, so get winter-ready.
Check your auto insurance policy to make sure your coverage is
appropriate for your situation. Liability is the part of the policy
that pays for any injury or damage if you cause an accident. If your
liability insurance is too low, it is possible you could be sued for
any damages above your liability limits.
Also take a look at your deductibles for comprehensive and
collision coverage. This is the amount you will pay if your car is
damaged or totaled without fault of another driver. Raising or
lowering this amount can affect your premium.
Keep a copy of your insurance card and your insurance agent or
company's number in the car. It is also a good idea to have a way to
record details of an accident in case you are in one.
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Many families go through the open enrollment process for their
health insurance at work or through Medicare, which means you may
have new insurance cards and paperwork coming in the mail. It is a
good idea to get all this information together before winter illness
or accidents happen.
Check your provider lists to verify visits to your doctors and
specialists are still covered by your policy, because in-network or
preferred provider lists can change from year to year. Also read
through your documents and make note of copays for in-network and
out-of-network providers, so you are not surprised later.
When planning a vacation, check with your insurance carrier to
identify urgent care centers and hospitals near your destination and
along the way that accept your insurance coverage. Be sure to ask
your carrier about applicable copays and deductibles if health care
To learn more about insurance, including tips for getting smart
about insurance, check
The mission of the Illinois Department of Insurance is to protect
consumers by providing assistance and information, by efficiently
regulating the insurance industry's market behavior and financial
solvency, and by fostering a competitive insurance marketplace. The
department assists consumers with all insurance complaints,
including health, auto, life and homeowner. Consumers who have
questions or concerns about their insurance may contact the
department's Consumer Division at
http://insurance.illinois.gov/ or call 866-445-5364.
Illinois Department of
file received from
Illinois Office of
Communication and Information]