Daily Dupaco

Thursday, June 04, 2015

Insurance: When's the last time you perused your policy?

For many households, summer is a season of change.

Tim Bemis, Insurance AgentWhether it’s finally getting around to finishing that basement or preparing to send a child off to college, some family milestones are worth a call to your insurance agent. Checking in with your insurer will assure that you are properly insured, and it could save you some money, says Tim Bemis, assistant manager at Dupaco Insurance Services.

Finishing a basement, for instance, increases the value of your home. But your original homeowner’s policy doesn’t reflect the additional square footage.

“If you add 800 square feet to the value of your home, that value isn’t calculated under the original policy,” Bemis says, “and you may leave yourself short of full replacement cost in the case of a loss.”

Home upgrades and other life events also can make you eligible for additional insurance discounts. Here are some ways to save:

  • Add a central alarm system to your home.
  • Good student discount: Did your student’s GPA improve this past school year?
  • Install hail-resistant shingles to your roof.
  • You might be eligible for a discount when your student is away at school and leaves the car at home.

Bemis recommends touching base with your insurance agent annually, about 30 to 45 days before your policy renewal, or any time you experience a life event.

“Reviewing your coverage lets us at least have a discussion about what does and doesn’t affect your coverage,” Bemis says.

Request a no-cost, no-obligation insurance analysis and quote online, or contact the Dupaco Insurance Services team at (563) 557-7600 / 800-373-7600, ext. 210, or by e-mail at insurance@dupaco.com.

By Emily Kittle

Dupaco Insurance Services is only licensed in the states of Iowa, Illinois, Wisconsin, Minnesota, and Arizona.

Dupaco Insurance Services is a division of Dupaco Financial Services, Inc., a wholly-owned subsidiary of Dupaco Community Credit Union. The purchase of insurance is not required in conjunction with the granting of any particular credit union service and the products offered are not endorsed or insured by Dupaco Community Credit Union. Mutual funds, annuities, and other investments: are not deposits; are not insured by the NCUA or any other regulatory agency; are not obligations of, or guaranteed by Dupaco Community Credit Union or any other affiliated entity; are subject to investment risks, including possible loss of the principal amount invested.

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