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January is a good time to review your insurance policies.  You may be able to save money by simply reviewing the coverage's you have and making changes to your deductibles.  Keep in mind that your homeowners insurance is not for maintenance of your home.  If you have water damage, for example, that is caused from water that has been leaking for a long time most likely it will not be covered by your homeowners policy.  Water damage is covered from a sudden or accidental loss. 

With this in mind do you feel your current deductible may be too low?  Talk to your local independent insurance agent to find out the different amounts available for your deductible.

Financial advisor, Dave Ramsey, suggests that you have a cash emergency fund set aside for emergency's such as home repairs.  If you have an emergency fund set aside you will have money to cover your deductible if you should have a claim.  He also suggests that you have a deductible as high as you can afford.  Think about having a yard sale to get a jump on saving an emergency fund.

Happy New Year and here's wishing you a prosperous 2015!




Posted 6:31 PM  View Comments

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