Happy New Year from Tidwell Insurance Agency! The New Year is a great opportunity to conduct an annual insurance review with your Tidwell Insurance agent. You can make sure you have appropriate coverage in the wake of any changes that have occurred in your life during the past year, and we can help you make sure your coverage limits and deductibles are right for your needs. In addition, we can identify any additional discounts or savings opportunities that you may be eligible for.

At your annual insurance review, you can expect to discuss the following, and more.

• What type of property coverage do you have (homeowners or renters insurance)? Do you have replacement cost coverage or actual cash value coverage? Actual cash value coverage reimburses you for the amount it would take to repair damage to a home or to replace its contents after allowing for depreciation. Replacement cost coverage reimburses you for the amount it would take to rebuild or replace a home and its contents with similar quality materials and goods, without deducting for depreciation. It is very important to understand the difference and know the type of coverage that you have.
• Do you have sufficient liability limits on your homeowner’s and auto insurance? Would you have enough coverage to pay legal costs and judgments if you were sued? Would you benefit from the excess liability coverage provided by a personal umbrella policy?
• How much personal property coverage is right for you? Would the current personal property coverage limit on your homeowner’s insurance policy provide adequate reimbursement for the contents of your home in the event of a loss? The best way to ensure that your personal property coverage is adequate is to prepare a home inventory, or a detailed list of all of the contents of your home. A home inventory can help make sure that you are neither over- or under-insured, and it is a very valuable resource in the event of a loss.
• What are your deductibles? Should you raise or lower them? Raising your deductible allows you to save money on your premium, but it is not always the right tactic for everyone. We can help you determine if it is the right approach for you. Remember, if you raise your deductible, you will have more costs to cover out of your own pocket if you have to file a claim.
• Am I eligible for any additional discounts or premium savings? We will review your policies and any changes that have been made throughout the year that may make you eligible for additional discounts or savings.

Your annual insurance review is also a great time for you tell us how we are doing! We welcome your feedback on the products we offer and the service we provide to you and your family. Contact your Tidwell Insurance agent today to set up your appointment. You don’t want to wait until it is too late to make sure that all of your insurance needs are being met!