Checklist for Home and Auto Insurance

Everyone today is living on a tight budget. One option on saving money might be to take a close look at your home and auto insurance policies. Some insurance companies give discounts on home and auto insurance if both are carried through them. If your insurance companies do not offer that benefit, there are several other ways to save. Keeping and comparing an insurance checklist might reveal more savings.

Checklist for Auto Insurance

The price one pays for auto insurance can vary depending on discounts that can be applied if the insurer knows about them. Some insurance companies may overlook valuable discounts or may not offer these type of discounts. Here are some important discounts that some companies offer:

Good Driving Record

• Keeping an excellent driving record is essential in keeping premiums low. 

• If something shows up on your driving record, one will receive a mailed notification by the state Department of Motor Vehicle Division. 

• If, by chance, there is a report of accident or ticket applied to your record by mistake, take care of it immediately by calling your insurance company and DMV office.

Type of Vehicle

• The amount of premium is based on the value of the car insured.

• The cost involved in repairing the vehicle insured will affect your premium.

Safety Features

• The safety features of the vehicle can also save on your premium.

• Some of the safety features that discounts apply to are air bags, anti-lock brakes, anti-theft and daytime running lights.

• The insured vehicles general safety record will make an impact.

• More information on auto safety can be found at the Insurance Institute for Highway Safety. 

Popular Stolen Vehicles

• A vehicle that is on the top of the list for car thieves will have a higher premium. 

• The National Insurance Crime Bureau has more information on car theft lists.

Checklist for Home Insurance 

• After a disaster, such as a fire, floods or storm, a correct content list will be necessary to file a claim. 

• Trying to create a list of all the contents after the destruction, of the home is almost impossible. This is where a home inventory checklist is essential.

• Important information needs to be documented on the checklist and kept in a safe place; a safety deposit box, which can be arranged at your local bank, is an excellent choice.

• The checklist will need to be updated at least once a year by adding new purchases to the list or removing items sold or discarded.

Inventory Checklist

Document Serial Numbers

• Serial numbers of television, stereo, computers or other electronics of value.


• If outside buildings such as a workshop or garage are insured, collect the serial numbers and value of these items. These may include all-terrain vehicles, riding lawn mowers, welders and weed eaters.


• Serial numbers of guns, bows and pistols should also be included in your serial number list.

Receipts

• Store receipts of equipment or appliances purchased are helpful if kept. The receipt will give the amount of value and date of purchase.

Appraisal

• If you own a gun that is considered an antique, have it appraised by a licensed gun dealer.

• Have any valuable jewelry appraised by a licensed jeweler.

• Appraise old coins or other rare contents of value such as old antique furniture or crystal dishes.

Store Your Checklist in a Safe Place

• Rent a safety deposit box at your local bank to store the inventory checklist.

• The safety deposit box can also be used to store other documents such as birth certificates, marriage records, and Social Security cards.