Summer 2024

Are You Confident About Your Insurance?

The most prevalent advertising campaigns about insurance for your home, car, and family imply that paying a minimum premium delivers great coverage. What those ads do not tell you is that is not true. The pay-what-you-want model, or deeply discounted rates, does not guarantee proper coverage, and these low premiums frequently increase sharply within the first year. The companies advertising bargain rates regularly do not fully cover losses that happen, or the coverage procured is much less than the actual value of what is being replaced, leaving you to pay out of pocket to cover the difference.

Obtaining insurance that you trust can be a daunting task, but it does not have to be. Independent agents are required to help clients secure the right insurance to fit their needs, assets, and the nuances that come with life. They are duty-bound to be sure the policy structure properly aligns with the value of what is being protected. The service of an independent agent is also free as their payment comes from the providers they work with on your behalf, not you.

So, how do you tell if your insurance will be there to support you when you need it most?

Here are five key policy points that should be part of your personal insurance plan:

1. Home Value – Guaranteed replacement in your homeowner’s policy ensures you rebuild your home exactly as it was even if prices have increased and there is no risk of paying out of pocket.

2. Auto – Agreed value in an auto policy automatically pays out a predetermined amount in the event of a total loss with a vehicle.

3. Valuables – Be sure your policy includes all high-end pieces set to their proper value. Up-to-date appraisals can result in credits back on other policies with the same carrier.

4. Umbrella – This policy will cover judgment and legal fees in the event of a lawsuit coming from a car accident, domestic staff injury or issue, and much more, protecting you and your assets.

5. Structure – It is critical to analyze the overall structure of all policies in your personal insurance portfolio together. Keeping all policies with an independent agent eliminates potential gaps in coverage and provides clarity and savings.  

Your personal insurance should directly reflect your lifestyle and goals for the future. Building your portfolio should be customized to deliver optimal coverage at the best value with the right carrier for you. Regular monitoring of your portfolio with your independent agent ensures your coverage keeps up with changes that happen along the way.

Ultimately, personal insurance should deliver peace of mind. Does yours?

Jeannine Foxx is a Risk Advisor for the independent, family-owned insurance agency, Meridian Risk Management located in Pelham, New York delivering customized personal, commercial, life, and benefits insurance. 

For a complimentary, no-obligation insurance review call 914-738-5678 or visit