Wrap Up 2016 With an End-of-Year Insurance Review

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Now that the holidays are winding down, you may be thinking about your goals and plans for 2017. If one of those plans is improving your financial condition, one way you can do this is to conduct a review of your current insurance coverage. Your goal is to have the right amount of coverage for your needs, at the best price.

First, look over your policies to remind yourself of your current coverage and deductibles, insurance premiums, and discounts. Then consider how your life has changed in the past year. Did you get married, divorced, or have a baby? Do any of your children now have driver’s licenses? All these changes should be reflected in your insurance portfolio. Here are a few additional specifics to consider:

Auto Insurance

Is it time to raise your deductible or drop comprehensive and collision coverage? Has your commute changed? Do you have additional drivers in your household who are not listed on your policy? Are you receiving all the discounts, such as safe driver or multi-car, that you’re eligible for?

Homeowners Insurance

If your home were destroyed, would your coverage be adequate to replace it at today’s construction costs? Do you have enough coverage for your personal possessions? You may need to increase your coverage limits if you’ve made improvements to your home, or bought or received as gifts expensive items such as computers, jewelry, or art.

If you’re thinking of raising your deductible as a way to save money on your premium, would you have the resources you need to pay that deductible if you have a claim?

You may be eligible for discounts on your homeowners insurance if your alarm system is monitored. You’ll need to provide a certificate from your monitoring company to receive the discount. If you’ve recently replaced your roof, ask your insurance agent how you can benefit from a wind mitigation report.

Flood Insurance

The entire state of Florida is at risk for flooding. Even if you don’t live in a so-called high-risk area, if you don’t have flood insurance, you might want to consider buying it. We represent several private companies that write flood insurance policies at a competitive rate.

Umbrella Policy

An umbrella policy is additional liability insurance, beyond your home and auto insurance, which protects your assets from a lawsuit. If your assets have increased, you will want to make sure you have enough coverage, or if you don’t currently carry an umbrella policy, you might want to consider purchasing one.

Life Insurance

If you’re the breadwinner, what would happen to your family if you die? A life insurance policy is one way to provide for them after you’re gone. In addition, although life insurance is mainly intended to replace lost income, consider buying life insurance for a non-working spouse or domestic partner. It can quickly become expensive to replace the work he or she does to keep your household running.

Because insurance is an important part of your financial life, it’s good to review your policies from time to time to be sure your coverage remains in line with your assets and liabilities. Remember, if you have any questions about your policies, L & M Insurance Group is here to help.

L & M Insurance Group is an Independent Insurance Agency based in Riverview, Florida. We can shop, compare and recommend the home, auto, commercial or life insurance policy that’s best suited for you, your family or your business. Call 813-672-4100 or visit landminsurancegroup.com for more information.

Congratulations Kristin!

Congratulations Kristin!

 

We would like to extend our congratulations to Kristin Gott, who is now a fully licensed Registered Customer Service Representative.   Because she completed the required online college classes to get the designation, she was able to successfully obtain her Florida 4-40 customer service representative license to sell and service insurance.

If you talk to her be sure to congratulate her on this accomplishment.

Well done, Kristin.

Larry Johnson
Larry Johnson brings over 23 years of experience writing insurance. He was the owner of Larry Johnson Insurance in Brandon for 13 years, and after selling his agency and taking some time off, he has joined L&M Insurance Group. Larry is excited to be back working with clients meeting their personal lines insurance needs. Call 813-672-4100 to get started

Who Needs Life Insurance?

Who Needs Life Insurance?Image result for life insurance images

If someone will suffer financially when you die, chances are you need life insurance because it provides cash to your family after your death. This cash, known as the death benefit, replaces your income and can help your family meet many important financial needs like funeral costs, daily living expenses and college funding. Insuring yourself is not like insuring tangible property, when buying life insurance, your health, age, smoking habits, and the purpose for the insurance all play a part in the amount and the type of coverage you need. Also, there are no federal income taxes on life insurance.

Married couple

Many married couples believe they have no need for life insurance until their children are born. Not true. If your spouse should die, who would help pay the credit card debt, car loans, monthly rent or mortgage payment and utility bills?

Married With Children

Most families depend on two incomes to make ends meet. If you died suddenly, could your family meet all their financial obligations? Could your family continue its standard of living on your spouse’s income alone? Life insurance makes sure your plans for the future don’t die when you do.

Small Business Owner

Life insurance can protect your business. What would happen to your business if you, your partner or a key employee happened to die tomorrow? Life insurance can help in a buy- sell agreement. This would ensure that the remaining partner would have the funds to buy the spouse of the deceased out of their part of the business. Also life insurance can protect your family from any Image result for life insurance for business imagesdebts your business may have at your death.

 
Call for a free quote today–813-672-4100 or send us an email using this link.

Mike Buice is the principle owner of L&M Insurance Group, serving the insurance needs of Florida policyholders for more than 26 years. Although his background is in life insurance, annuities and financial planning, he has expanded L&M Insurance Group to encompass all lines including commercial, auto and home insurance. He believes in educating clients so they can make better insurance choices. Call him at 813-672-4100 with your insurance questions.