Thursday, January 11, 2007

State Insurance Department urges Louisiana residents to review Insurance Policies in the New Year

The Louisiana Department of Insurance reminds consumers that the beginning of the New Year is a good time to look over all of your various insurance policies to make sure you have the policies you need in the right amounts.

It is a good idea to schedule a routine “check-up” with your insurance providers at least once a year. When doing your “check-up” it is important to look at all types of insurance coverage’s, including home, auto, health and life. Always shop around for identical products and services, since not every company charges the same rate. And remember that an insurance policy is a legal document, so read it carefully.

“Everyone should carefully assess all of their insurance policies to make sure they have the right types of coverage to fit their individual needs,” Commissioner of Insurance Jim Donelon says. “Knowing exactly what is in your insurance policies will better ensure that you will be protected if a loss occurs.”

Homeowners Insurance

Even if you are not required by your mortgage lender to purchase flood insurance, consider purchasing a flood policy. You should never assume your property won’t be damaged by flood. You can also buy a flood insurance contents policy to cover your furniture, clothing and other items that could be lost if your home is flooded.

Auto insurance

Talk to your agent about ways you can reduce your coverage costs, including improving your driving record, choosing a higher deductible, installing safety equipment in your vehicle or purchasing multiple policies with the same company.