CHECKLIST: Retiree Insurance Protection

Every dollar counts – especially during retirement. We have prepared a quick checklist to help you uncover insurance savings and protection that you might be eligible for. This is a generic list of possible discounts and recommended coverage typically associated to protecting retiree lifestyle.

Equally important is building a relationship with your insurance broker to explore options on a regular basis – a great relationship with your insurance broker will help you save money and build an insurance strategy to best protect your retirement.

SAVE
Some insurance discounts you are eligible for are often missed because your insurance broker is not aware of particular changes in your life.  It’s important to talk to your insurance broker about your retiree lifestyle to help uncover savings you deserve.  Here is a generic list of discounts and approximate savings for each:

✔ Combine home and auto insurance discount (up to 18%)
✔ Multi car discount (10%-15%)
✔ Winter tire discount (2-5% off comprehensive coverage)
✔ Low-mileage driver program – telematics (up to 30%)
✔ Pleasure use rating (5%-10%)
✔ Mortgage free discount (10%-20%)
✔ Home alarm discount (up to 10%)
✔ Retiree discount (10% off car accident benefits coverage)
✔ Home updates discounts (up to 10%)

PROTECTION
Protecting your retirement sometimes requires a small insurance investment. Talk to your broker about these simple policy enhancements to avoid high risk expenses due to an uninsured accident.  Here are some items you should consider:

✔ Overland water coverage
✔ Review water damage policy limits
✔ Claims and conviction protection
✔ Identity theft
✔ Home based business
✔ Waiver of depreciation on new vehicles
✔ Review car accident benefits coverage

SUPPORT
Look for value add services to help support your retiree lifestyle. Breckles group insurance program comes with Intact Lifestyle Advantage (for Novex policyholders).  Age 50+ customers get additional lifestyle support and enhanced insurance coverage.  Here are few features of the support:

✔ Cash settlement for loss of home or contents
✔ Waived deductible
✔ Reimbursement for home care service
✔ Child care, support services for children and teens
✔ Personal wellness services
✔ Home, residential and community care for seniors

If you are age 50 and over, it’s a great time to do an insurance review with Breckles.  Count on us to uncover insurance savings and better protection.  Connect with one of our insurance brokers today.

Back to Blog