Insurance Auto Pilot Off | A Quick Assessment









If it has been a few years consider taking off the insurance autopilot with this quick assessment.

Here are 10 easy questions you should know.


  1. Does the insured value of my home accurately reflect the cost it would take to rebuild?
  2. Did I update my insurance when I put my home or lake home into an LLC or trust?
  3. Do I want my mechanical equipment or utility lines covered?
  4. Do I want any jewelry covered?
  5. Does my home/car insurance cover claims due to a business exposure?
  6. What if my sump pump fails or water comes up through my sewer line?
  7. Is my roof covered for replacement value or a depreciated value?
  8. Can my health insurance deductible be covered if I am in a car accident?
  9. What if I rent a car on vacation? Or in a different country?
  10. Does my umbrella include uninsured/underinsured motorist coverage?

Small Business

  1. What coverage do I have in place if I cannot operate in my building?
  2. Does the insured value of my property accurately reflect the cost it would take to rebuild?
  3. Do I need to get certificates of insurance from my subcontractors?
  4. Does my general liability cover advice I give clients?
  5. Does my general liability cover mistakes I could make on employee benefits?
  6. Is private information from customers covered?
  7. What if I terminate an employee and they bring a lawsuit against me?
  8. Do my employee(s) or prospective employee(s) driving history matter?
  9. What commitment do my employees give me when I give them a vehicle to drive?
  10. Do I know what affects my workers compensation rates?

This is by no means comprehensive, but how about a catch all question to your trusted insurance adviser? Ask them this:

“Is there anything else I should consider?”

It’s a brilliant question and it opens the door for open and honest conversation. You are in charge. Make the most of it.

Jeremy Hyde | Colligan & Company