We are nearly at the end of 2011. Now that the chaos that comes with the holidays is over, people start thinking about the year to come. Have you made any insurance related New Year’s Resolutions? It might be a good idea to reassess your insurance coverage.
Right now, you are likely to have at least one or two insurance policies that do not require you to make any changes. For me, this would be my auto insurance policy. I did not purchase a new vehicle in 2011, and my husband and I didn’t need to buy a second vehicle. Therefore, I don’t have to change my auto insurance policy to include any new vehicles. My current coverage is going to be equally appropriate in the new year.
Another policy that I won’t need to make any changes to is my homeowners insurance policy. We live in a mobile home, and had to purchase homeowners insurance when we bought the home. We also haven’t made any expensive electronic purchases in the past year, and so, do not really need to add new items to our coverage.
Do you have life insurance? This is something that people tend to overlook, especially when money is tight. Life insurance gives your family the financial protection they would need to continue to live the lifestyle they are used to after you pass away. If you don’t have this type of insurance, it would be a good idea to apply for it in the new year.
Right now, my husband has health insurance. He is legally blind, which means that he qualifies for Medicare. At this moment, he has Part A. In the new year, he will be getting Part B as well.
At this time, I do not have any health insurance, public or private. So, theoretically, I could make my insurance related New Year’s Resolution to actually get approved for affordable health insurance in 2012. I do not think this is actually possible, though, and I have always heard that people shouldn’t make New Year’s Resolutions that are not within their own power to actually accomplish.
A more realistic idea would be for me to make a New Year’s Resolution to find cheaper alternatives for health care. For example, I can purchase prescription drugs from Canada. When I have to visit a doctor, I can repeat, over and over again, that I do not have health insurance. Sometimes, this leads doctors to charge a reasonable rate.
My biggest insurance related New Year’s Resolution is to finally get rid of my unemployment insurance benefits. It will feel good to no longer be dependent upon the California EDD. The amount of stress they cause me each time they schedule yet another telephone interview cannot possibly be good for my health!
Image by Windell Oskay on Flickr