New Year’s Resolutions: Saving Money and Staying Safe in 2020

Written By Charlotte Insurance on January 10, 2020. It has 0 comments.

piggy bank used to save money in 2020

Not all New Year’s Resolutions are of the “new year, new me” variety. You can want to reach goals that don’t involve going to the gym, eating kale, or signing up for a marathon. Make 2020 the year you save money and stay safe — for yourself and your loved ones. Here are a few ideas to help you do both.

Make Your Home Safer

Adding a home security feature gives you peace of mind when you’re traveling for a week or at work for the day. Modern systems allow you to monitor your home from your phone or a web browser. When you add in third party monitoring, you reduce the risk of catastrophic damage from fire or devastating losses due to theft. Even better, adding home security may qualify for additional discounts on your homeowners insurance.

Replace Your Roof

Roof replacement is a big expense and needs to be planned for. If it’s on your list of goals for 2020, great! If not, decide if it should be. A new roof protects your home from water and wind damage during storms. And thanks to newer regulations, roofs replaced by qualified contractors are able to handle most harsh weather without a lot of damage. You’ll have fewer worries during storm season, fewer claims to make, and possibly a lower insurance premium.

Add Flood Insurance

Make 2020 the year to finally purchase flood insurance. Your standard home insurance policy does not include flooding. The most protection you have from water damage is a leaky roof or a burst pipe. But anything else will be your responsibility to fix or replace, unless you have flood insurance for your home. Your premiums depend, in large part, on where your home is located and any mitigation done to reduce flood damage. But it’s much less expensive than the cost to rip out and replace drywall or to rebuild your home from the ground up.

Maintain Your Vehicle

If buying a new car isn’t in the cards for you this year, make sure to take care of the one you have. The last thing you want is to stall out on the highway and cause an accident. You also want lights and mirrors to be in working order so you’re visible on the road and can see where you’re going. These small repairs can save you from bigger headaches down the road like the auto accident you never saw coming.

Buy a New Vehicle

Buying a new car doesn’t sound like a way to save money or stay safe, but if it’s something you can do, consider it. Newer cars offer more safety features than vehicles even five years older like automatic braking, vehicle detection, and hands-free options. Also, a new vehicle may include a maintenance package and warranty which keeps repair costs down for a while. Some insurance companies offer discounts for newer vehicles with specific safety features.

Update Your Insurance Policies

Make 2020 the year you remember to update your insurance policies. Add people to your policy like your young driver and remove people who no longer live with you (like adult kids who have their own home). Update your home insurance policy limits to reflect the real cost to rebuild your home. Talk to an independent insurance agency like ours to make sure you’re getting all the discounts you qualify for.

Want to make sure your family is as safe as possible in 2020 while saving as much money as possible? Contact Charlotte Insurance today to discuss how we can help you with all your insurance needs

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