The top 10 things you should do to organize your insurance in 2022
Feet up — it’s December, the Friday of the calendar year! 2021 has been another doozy, so here’s hoping the next one is a little better! In that vein, perhaps you’ve already made some resolutions for this next turn around the sun (once again, "floss more" is on the list) — but we would be remiss if we didn’t encourage you to start the year off right by adding a few insurance-related items to your list, too.
So without further ado, our Top 10 Insurance Resolutions for Starting Off 2022 Strong!
1. Check Your Address
Maybe you’ve spent the past twelve months roaming from small town to small town. Maybe you’re now a work-from-home devotee. Wherever you’re living, you’ll want to make sure the address on your policies is up-to-date. It sounds like a small thing, but insurance is all about data, and if it’s not accurate, it’s going to be harder for you to get a claim covered. Plus, you might miss a notification or change, which could even put you at risk of cancellation.
In fact, keeping your information current is a great overall resolution for 2022. Here are some other policy questions to ask yourself:
2. Add or Update Lien Holders
Have you properly added lien holders and mortgage companies to any home or auto policies? If there’s a loss or a payout, you want to make sure lienholder or mortgage info is accurate ahead of time. (Your future self will thank you).
3. Properly Classify Your Auto Use
Have you double-checked that your automobile is correctly rated? This means that if you use it for business purposes — like, for instance, your work as a traveling salesman — you’ll want to classify it as such (and you may also want to talk to your employer about getting hired unowned auto coverage, too). You can also purchase policies that cover commute, leisure, or non use. In short: making sure your auto is properly rated (or classified) will help ensure a claim you make gets covered.
4. Update Your Auto Mileage
Speaking of commutes: if you’re now permanently working from home, or even if you’re in a hybrid work environment, you’ve likely significantly shaved down your commute miles. Updating your mileage on your auto policy could save you money, since you’re driving less than before. Alternatively, if you’re now back to commuting to the office, you’ll want to make sure that’s accurate too, so you can make sure you’re fully covered.
5. Check and Update Your Name
Have you updated your policies with any name changes (like, for instance, if you got married and changed your last name)? Listing an incorrect name will not affect your claim, but it can make filing difficult: imagine you leave a restaurant to discover your car has been stolen, only to then have to spend precious time explaining your new name to the insurance agent? You’ve already got enough on your plate without having to explain that you're now Mr. Smith, thank-you-very-much! (And if you do get a claims check, you’ll definitely want the name listed to match the info your bank has on file.)
6. Take Stock of Your Personal Property
Have you tallied your personal property and insured what should be protected? Personal property insurance needs to be as accurate as possible in case anything happens to your belongings. And given supply chain issues and the rising cost of goods, you’ll want this number to be reasonably high, since today’s sofa (or laptop, or golf clubs) probably costs more than what you paid 15 years ago. Think about it in terms of the replacement cost of each item, not just the cash value.
7. Make Sure Your Valuables are Covered
Related to the point above: you’ll want to make sure any high-value items, like wedding rings or art, are covered above the standard limits. This is because the typical policy will have a relatively low sublimit on the amount of coverage available for a specific type of loss unless you specifically add coverage. So, for example, your watches and rings may be worth $25,000 — but that won’t matter if you didn’t add extra coverage, because the sublimit for jewelry only amounts to $5,000. In order to get full coverage for your valuables, you’ll want to add riders (optional additional coverage) to your existing policies or buy speciality policies — both of which are relatively cheap compared to the amount of coverage you’ll get.
8. Check For Qualifying Discounts
There are more reasons than just ease of admin that you should keep your files updated, chief among them being that it can save you money. You could get a discount for completing a degree (congrats, by the way!), and any improvements to plumbing, roof, wiring, or HVAC could also affect pricing in a way that benefits your wallet.
And looking forward to 2022, there are a few things we want to make sure you’re thinking about:
9. Make 2022 the Year You Buy Travel Insurance
Case in point: The new nightmare that is travel. Planes, trains, hot air balloons, you name it — travel over the past year has been tumultuous, and we don’t anticipate that changing anytime soon. So you might want to consider insurance for any upcoming trip. Travel policies can help with medical support (and even medevac needs) from other countries. These policies can also cover the cost of your trip if you have a travel delay or need to cancel, and can even offset added expenses due to a travel delay or lost, delayed, or damaged luggage.
10. Don’t Mix Your Work and Personal Policy
If you’re using a personal policy to cover professional work, STOP! (In the name of love.) We support your hustle, but if you drive for Lyft, use your motorcycle to deliver groceries for Instacart, or pick up shifts for Taskrabbit, make sure your insurance provider knows. While it’s simpler to insure the time you spend working, waiting in-between rides or appointments can fall into a gray area — so you’ll want to make sure you’re covered throughout your shifts.
11. Get Organized and Earn Rewards on Your Insurance
Did you really think we’d let you start 2022 without a resolution to create a Marble account? It just takes a few minutes to get set up and start organizing your policy information — and you’ll immediately start racking up rewards just for having insurance.
Whatever your resolutions, we at Marble wish you and your loved ones a happy and healthy 2022!