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When was the last time you evaluated your personal assets for insurance coverage? If you’re like most people, it’s probably been a while. Your personal assets are always changing, and that means your insurance needs are always changing, too. Here’s why it’s so important to keep up with your asset evaluation—and how to do it.
Your Personal Assets Are Always Changing
You might not realize it, but your personal assets are always changing. Whether it’s a new car, a change in job status, or even a new pet, each of these things can impact your insurance needs. That’s why it’s so important to keep up with your asset evaluation on a regular basis. By doing so, you can make sure that you’re always adequately covered in the event of an accident or other unforeseen circumstance.
How to Evaluate Your Personal Assets for Insurance Coverage
Evaluating your personal assets for insurance coverage is actually pretty simple—and it doesn’t have to take a lot of time, either. Start by making a list of all personal assets, including both physical items (like your home, car, jewelry, etc.) and intangible items (like your income, savings, etc.). Once you have your list, take some time to estimate the value of each item. Then, consult with your insurance agent to determine how much coverage you need for each item on your list.
Your personal assets are always changing—which means your insurance needs are always changing, too. That’s why it’s so important to keep up with your asset evaluation on a regular basis. By doing so, you can make sure that you’re always adequately covered in the event of an accident or other unforeseen circumstance.
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If you have any questions concerning protecting your company name or information on getting insurance for your small business, please contact an IMA Select representative in your area.