Blog: Minimizing Financial Clutter
52 WEEKS TO FINANCIAL ORGANIZATION: #18– Review Insurance Coverage
I've written a lot about organizing your insurance policies. Hopefully you have:
1. Located the policies
2. Created a spreadsheet, listing what you have and whom to contact
3. Filed the policies in a safe place
These are all vitally important things you need to do to organize these important financial documents. But all the organization in the world won't help you if your insurance coverage isn't up-to-date.
Consider these scenarios:
· You got married
· You got divorced
· You became widowed
· You had a child
· Your teenager started driving
· You got a new job, and your commuting distance changed
· You got a new job that pays you lots more money
· You retired
· Your teenager suddenly became a great student
· Your teenager dropped out of college
· Your kids moved out
· You acquired many new valuable possessions
· You built an addition onto your house
· You started your own business
This is a partial list of commonplace happenings. But they affect every type of insurance coverage you might have: medical insurance, automobile insurance, life insurance, liability insurance, homeowner's/renter's insurance, and disability insurance.
Have you experienced any of these events since the last time you reviewed your insurance coverage? If so, then you definitely need to pick up the phone this week and make appointments with your insurance agents to update your policies.
P.S. When you receive your updated policies, be sure to record them on your insurance spreadsheet and file them safely.
posted on: 5/24/2009 11:30:00 AM by Katherine Trezise
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Minimizing Financial Clutter
by Katherine Trezise
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Katherine Trezise is president of Absolutely Organized, based in Baltimore, MD. She is president-elect of the National Study Group on Chronic Disorganization. Katherine holds a masters degree in business administration, is a Certified Professional Organizer® and a Certified Professional Organizer in Chronic Disorganization®. Absolutely Organized specializes in helping people organize their homes, paperwork and financial records to make room in their lives for the things, people and activities that are most important to them.