FAMILY CHANGES? CONSIDER ADJUSTING YOUR INSURANCE
Families change in many ways as new members are introduced and milestone birthdays are celebrated. Here’s when to double-check that you and your loved ones are adequately protected.
If you get a pet … Talk to your agent to find out if your homeowner or renters policy includes liability coverage if your pet is ever involved in an accident. Liability coverage is especially essential for dogs because even a small dog bite can permanently scar the face of a child. If your homeowners or renters policy doesn’t adequately cover your pet, consider purchasing an additional umbrella policy. Keep in mind that owning certain breeds of dogs deemed “vicious” might make you ineligible to buy home insurance from certain companies entirely.
If you have a baby … You might qualify for a lower auto rate. If you upgrade to a larger or safer vehicle, adjust your auto policy accordingly. You also might want to change your homeowners renters insurance policy if you acquire additional belongings or if you don’t already have accidental damage coverage. The birth of a child also might be an excellent time to combine multiple insurance policies for the best rate.
If your teenager is ready to drive … Call your agent before your teen gets a learner’s permit to determine how much it will cost to insure your teen once licensed. Make sure to ask about student discounts. Expect your auto insurance rate to increase when you add a teen driver to your policy — teenagers cost more to insure because they have yet to establish a safe track record.
If you send a child off to college … Ask your agent if you qualify for auto discounts. If your child takes a car to campus in-state and remains on your policy, coverage likely still applies. If your child takes a car to campus out-ofstate, check with your agent to see if coverage still applies. Encourage your child to leave valuable belongings at home and do a detailed inventory of what they take. If your child is living in a dorm, most of their belongings will likely be covered under your homeowners policy. However, you might want to consider a personal property endorsement if your limits aren’t high enough. If your child is living off-campus, consider a renters insurance policy to protect their belongings and protect them from liability in case of an incident.
If you lose a loved one … Call your insurance agent. If the person who passed away was listed on your auto or homeowners policies, have them removed. If your spouse passed away and left you a home, ask to be listed as the “named insured” — most insurance policies allow surviving spouses to continue making payments until the policy can be re-registered or rewritten. (Be sure to have the policy number and death certificate on-hand.) If you are an heir to a home, contact the insurance company as soon as possible, as the policy might need to be rewritten. If someone passes away, leaving their car behind, contact the insurance company to find out who is listed on the policy.
To make sure you have the coverage you need, talk to your local AAA Insurance agent. Request an appointment at your local AAA branch office by clicking AAA.com/Insurance or calling 866-222-0937.