5 insurance reminders for the new year | PEMCO

As we shake off the confetti of the past year and look forward to all that 2024 has to offer, our experts have a few insurance reminders to keep in mind as a part of your overall financial plan. While insurance may not be as glamorous as celebrating New Years Eve, it does provide necessary peace of mind and protection for the things that matter most. 
 
Here are our top five insurance tips for the new year to help ensure you've got all your bases covered and you can enter 2024 with confidence. 

5 insurance tips for the new year 

Which of these four insurance “resolutions” will you commit to this year? 

1. Update (or create) a video inventory of your belongings. If your home is burglarized or damaged in a fire, a video inventory gives you a head start on reclaiming or replacing your possessions. Systematically film room-by-room, starting at the doorway and panning around the space. Zoom in on individual items as you describe each, and capture details like makers' names or marks on the bottom of art pieces and serial numbers on electronics. Don't forget to open every drawer and closet. Store a copy of your video inventory in the cloud or on a USB drive kept somewhere other than your home. Don't miss this video from our experts. 

2. Tell PEMCO about remodeling that may affect your home's value. If you're replacing "like with like" (for example, worn laminate countertops with new laminate countertops), your policy automatically keeps up. However, if you upgrade (such as switching from laminate to granite or quartz), you'll want to share the change with us. Also let us know about new additions, like decks, fences, or brand new roofs. When you let PEMCO know about improvements to your home, we can make sure its covered for the right amount in case you experience a loss. 

3. Make sure your high-value items are protected. Like virtually all homeowners and renter policies sold in the United States, your PEMCO policy has maximum combined and individual limits for certain types of high-value belongings like jewelry and firearms and other expensive items like art and antiques. For example, our policies cap jewelry coverage at a combined value of $5,000 with a maximum of $2,500 per item. If that's no longer enough, call 1-800-GO-PEMCO to speak with one of our licensed agents or log in to your pemco.com account to protect your valuables with per-item coverage. 

4. Consider life changes. Big transitions like marriage, divorce, a new job, having a child, or sending one off to college can have implications for your insurance. In fact, some of these changes might mean discounts on your premiums (win, win, right?). For example, if you accepted a new job with a shorter commute time, you might be able to get a mileage discount.
   
   And, if you added a new member to your family in 2023, you might want to consider updating your life insurance. Our friends at Ladder can offer you a free quote, fully online.  

5. Check that you're carrying your current insurance ID card in your glove compartment. Or, to ensure it's with you all the time, download it into your digital wallet through the GO PEMCO app. You can also access it in your browser at pemco.com 

 
As always, you're entitled to a policy review at any time. We’re here to help and guide you through the insurance journey. You can reach out at pemco.com or call 1-800-GO-PEMCO.  
  

Happy New Year, from the whole PEMCO team. Wishing you a safe 2024!