One recent insurance survey suggests that over 30 million U.S. households own insurance policies that are seriously out-of-date. As a result, the following questions should be asked. If the answer to one or more of these questions is yes, then you should contact your insurance agent as soon as possible so your insurance policies can be appropriately updated.

●       Has your house undergone major renovations or improvements? If so, your home may be underinsured.

●       Has your marital status changed? If you have married, for example, you may now qualify for a multi-car discount on your auto insurance.

●       Have you purchased new valuables or collectibles? If so, you may be seriously underinsured for these items. Specialty policies or endorsements can properly cover them.

●       Are you now participating in a carpool? If so, your exposure to injuring passengers has grown and your liability limits may need to be increased.

●       Are you now retired? If so, your auto insurance premium will likely drop since your annual mileage should decrease.

●       Have you added a burglar alarm with central station reporting for your home? If so, you could qualify for a homeowners premium discount.

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Copyright 2008, International Risk Management Institute, Inc.