Does Your Insurance Cover Your Current Needs?
June 8, 2020
It’s a good idea to review your insurance policies each year to make sure they still provide the best options for you and your family. In uncertain times like these, it’s especially comforting to feel good about your coverage and its ability to protect you. Take time to review your auto, home, and life insurance now.
Review the drivers and vehicles currently covered by your insurance. Most policies cover you and the family members living with you, but it’s not always clear-cut. For instance, a young adult living in a college dorm is probably covered, but one who lives off campus may not be. If you and your spouse divorce, whose policy insures your children? Let your insurer know about any change in living arrangements to avoid a gap in coverage.
Speaking of gap, consider a Guaranteed Asset Protection (GAP) policy. This kicks in when your vehicle is totaled but you owe more on the loan than your insurance covers. This coverage can save you thousands of dollars. Learn more about GAP.
You can also ask that your coverage includes damaged batteries, tires, and shocks, or stolen or damaged cell phones. You can request your policy limit the amount you pay for a rental while your vehicle is being repaired. Feel free to discuss this and more with your RCU Insurance Services representative.
Know what your homeowners policy covers and, more importantly, what it doesn’t. You may think your insurer would pay the full cost to replace your home or the contents in it if destroyed by a covered occurrence. But many policies place a cap on replacement cost up to the face amount stated on the policy.
RCU Insurance Services works with companies that provide the most reliable policies. Whether you own or rent, it’s important to protect your home and valuables against theft, fire, and other losses. Reach out today to get a free quote or let us help you determine whether you’re properly covered.
Your life insurance coverage (when coupled with savings and income) should be enough to allow your family members to maintain their financial standing if one of the breadwinners passes away. Make sure your family can still pay the mortgage or rent, along with ongoing living expenses, and maybe a college education.
We care about you and your family and want you protected under all circumstances. As life continues to evolve, your existing policy may not cover all that you’d want it to. Or maybe you don’t yet have a policy. Call us at 1 (866) 477-4225 or email firstname.lastname@example.org to review your coverage with one of our knowledgeable agents.
Insurance products are not deposits of Redwood Credit Union and are not protected by the NCUA. They are not an obligation of or guaranteed by Redwood Credit Union and may be subject to risk. Any insurance required as a condition of an extension of credit by Redwood Credit Union need not be purchased from Redwood Credit Union and may be purchased from an agent or an insurance company of the Member’s choice. RCU Insurance Services is a wholly owned subsidiary of Redwood Credit Union. Business conducted with RCU Insurance Services is separate and distinct from any business conducted with Redwood Credit Union. License no. OD91054. NPN no. 7612227.