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It’s 2023! We made it! The champagne’s been drunk, the confetti flung, and Auld Lang Syne is finally out of your head. Even if you’ve already made your resolutions, there’s still time for a few more that are insurance-specific, right? In addition to running a half marathon, being kinder, and mastering the art of boeuf bourguignon, we’ve got some ideas about how you can get your insurance in order for 2023.
Rates are on the rise, and you know what that means: more money leaving your bank account (boo!). Now is the time to budget for the upcoming year and figure out if you need to shop around for lower pricing. To help you stay on top of increases to your premiums, Marble’s Rate Watch program tracks any rate filing changes by major insurance companies so that you can stay in the know when it comes to your premiums. Best of all: you don’t need to do anything but add your policies to your Marble account; we’ll handle all the rate monitoring for you.
When you purchase a new policy, you may have to pay more than just your monthly premium. Unfortunately for all of us, so-called “junk fees” seem to be snuck in everywhere! When it comes to insurance, they can take the form of cancellation fees or payments to insurance brokers. Luckily, the FTC is starting to crack down on junk fees, but that’s still going to take some time. Until then, if you’ve spotted any unnecessary or unexplained fees on your insurance policy or passed on from your agent, please let us know here.
Have you changed your name, had a baby, or moved homes in the last year? Your insurance providers need to know! Otherwise you might be either paying more than you need or you might not have adequate coverage. So keep your documents up-to-date!
Speaking of which, if you did get married, had a baby, bought a home, or had another major life change, now is the time to buy life insurance. Although originally created to help with funeral costs and to provide care for widows and children, today life insurance can be used to cover a whole range of things, from college tuition to lost income to mortgage payments. If you have dependents, life insurance is a significant way you can protect the future of your family.
Office life in the wake of COVID has changed, and many of us work partially or entirely from home. It’s likely that your commute miles have dropped, and if that’s the case, you’ll want to update your auto policy. Less driving means lower premiums. If, on the other hand, you’re one of the people who is back in the office full-time, you’ll want to make sure your policy reflects that too.
SOS: travel delays are the norm these days, and we don’t see that changing anytime soon! So you might want to think about travel insurance for any upcoming trip. If you thought travel insurance was one-size fits all, you’d be wrong, my friend. There are specific policies to help offset expenses if your bags are delayed, to cover cruise ship cancellations, or even to help pay for the medical assistance you need after sunbathing too long on a remote island. The world is your oyster, and with travel insurance, it’s just a little less risky, too.
The start of the year is a great time to assess your personal property and make sure that everything that needs protection is protected. So if you’ve got watches or necklaces sitting around, you may want to look into an insurance policy that covers high-value property. But it isn’t just the big ticket items that need insurance. Take stock of your belongings and check out personal property policies to make sure you have the coverage you need.
And while you’re at it, you may want to consider insuring your online self. So much of life’s most important transactions are digital these days, and cyber insurance can help you in case of a data breach, theft of your financial records, and much more. Make 2023 the year you secure your digital self by encrypting passwords, downloading software updates as soon as they become available, and updating firewalls.
Who doesn’t love a discount — especially given inflation and the cost of living crisis. There are a number of ways to get discounts on your insurance, from making home improvements to completing your degree. So ask your agent what you can do to lower your rates.
And last, but certainly not least, get rewarded for having insurance! You’ve already got the policies, why shouldn’t they start working for you? It only takes a few minutes to set up your Marble account and start organizing your policy information — and you’ll immediately start racking up rewards just for having insurance.
From all of us at Marble, here’s to a happy and healthy 2023!
