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Insurance checkup

Posted October 01, 2014 in Advice Column, Perry

Most of us know that major life events can make it necessary to update our insurance coverage. But did you know that even subtle changes can have an impact on your financial needs and plans?

You should review your coverage if you answer yes to any of the following:
•    Improved your home or bought a new home?
•    Purchased a new or used vehicle?
•    Graduated from school?
•    Welcomed a new addition to your family?
•    Changed your marital status?
•    Have a new teen driver in your family?
•    Started a new business or a new job?
•    Thinking about retirement?
•    Purchased or received something valuable? (Jewelry, motorcycle, boat or snowmobile, computer, started or added to a collection, e.g., coins, stamps, fine art, etc.)

Have you made time recently to go over your financial goals for the future? Fortunately, you don’t have to do it alone. Your Farm Bureau agent can help you review your insurance and investment needs and establish a strategy for the future that’s tailored to your unique goals and objectives. Contact your agent today to schedule a personal insurance review.

Water backup coverage
Think about your basement for a moment and everything in it. Whether it’s your family gathering spot or another place for storage, your basement may need more insurance coverage than provided by a standard homeowners policy.

Why? A typical homeowners insurance policy protects against losses from things like fire, theft or wind. But it doesn’t protect against water damage, such as sewer backup or sump pump overflow.

By adding water backup of sewers or drains coverage to your Farm Bureau Member’s Choice policy, you can be sure that damage to the floors and walls of your basement, as well as the appliances, furniture, electronics and other valuable possessions stored there will be covered by your policy.

Water backup of sewers or drains coverage can be purchased in increments of $100, up to $25,000, depending on your specific needs. The cost will depend on the coverage amount you select and any deductible required by your homeowners insurance.

A sewer backup occurs when excessive waste water or storm runoff can’t flow normally through the sewer system. The sewage that should be flushed away through the system instead rises up through the drain in your basement.

A typical sump pump system is intended to remove water that accumulates in or around the drain tile system of a home. Failure of any component or an inability to sufficiently manage excessive water entering the system can lead to a basement full of water.

Information provided by David Finneseth, agent, Farm Bureau Financial Benefits, 1009 Willis Ave., 515-465-2005,

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