Your New Year's Insurance Resolution

Throughout the year, changes in circumstances and responsibilities typically occur. A new baby, pay increase, higher monthly expenses, or a recent move may happen, and with these changes comes the need to reevaluate your car, homeowners and personal life insurance coverage - especially in the New Year!

"Insurance.com recommends that life insurance policyholders make taking a more active role in managing their life, homeowners and car insurance coverage a New Year's resolutions this year," said an executive at Insurance.com, the online insurance resource. "They can start by understanding their policy needs, and then begin to shop around and compare their current rates with other insurance providers."

Life Insurance Resolution

Adequate coverage is a must. It is important that policyholders understand how much coverage they need to protect themselves, as well as their families. When the New Year rolls around, reevaluate your current life insurance plan, and see if it is good enough to protect your family in the event of a misfortune. It is also important to note the following tips when reevaluating your life insurance policy:

• Life insurance should be covered by both parties, not just the main "bread winner" (this helps to replace income or rise in expenses in the unfortunate event of a death)
• Add extra protection to cover the cost of outstanding debt
• Add extra protection to cover six months of emergency living
• If college for your children is a concern, add more protection to ensure their education will be covered

Homeowners Insurance Resolution

Maximize your existing coverage. It is important to know the differences of what your liability insurance covers, compared to what your property insurance covers. Typically, liability insurance will cover up to $100,000 in damages, but based on your individual needs and situation, more may need to be added. The difference between homeowners insurance and liability insurance goes as follows:

Homeowners insurance covers:

• Structure of a home
• Contents of a home

Liability insurance covers:

• Personal liability
• Medical payments
• Damage to someone else's property
• Personal injury to others

Auto Insurance Resolution

Shop around for auto insurance. Instead of receiving your car insurance renewal in the mail and just paying it and filing it away, consider shopping around for a new car insurance policy. You may find one that is considerably less expensive, and have more benefits than your current car insurance policy has. Insurance.com suggests drivers review their current car insurance policy and ask themselves the following questions:

• Are competitive rates offered by their current car insurance provider?
• Is their underwriting agency going through any big changes or mergers? Are they able to support claims?
• Are they eligible for discounts with their insurance provider? Are they receiving all discounts available to them at this time?
• Does their auto insurance company offer 24-hour claim services? Is the staff knowledgeable? Do they offer extended hours of operation services?

By taking the time to shop around and view what other auto insurance companies have to offer, you may not only save yourself money, but you also may save yourself hassle in the event something happens and you need to file a car insurance claim.

If you are interested in getting a life insurance, homeowners insurance or car insurance quote, log on to Insurance.com. Here you will be able to evaluate multiple rates from best-in-class life, homeowner's and car insurance providers - helping find you the best insurance coverage for your budget.