Updating Insurance Good Step for New Year

January is traditionally a time for families to take a long look at their financial records. Old receipts are unearthed for tax returns, parents of college students update their financial aid applications and employees evaluate the performance of their retirement plans.

Yet relatively few people take the time to examine their insurance coverage closely. According to independent insurance agent Shannon Haney, that can lead to ending up paying too much for the wrong coverage.

“There’s often a gap in homeowner’s insurance,” explained Haney, who manages the office of FCNB Insurance Services. “It’s not just a matter of a home’s market value, it’s also about the cost of replacing the home. With the downturn in the economy, construction costs have gone down in many instances.”

Haney also recommends people evaluate the amount of liability insurance they carry on their home and automobile policies, and consider personal liability policies.

Haney said she is generous with advice. She admits she “holds my clients’ hands” both when recommending and servicing coverage. “I like meeting people, trying to help them, watching their kids grow up,” she said. “An agent is important. People don’t want to deal with claims by themselves.”

Although she’s worked in the insurance agency since her graduation from college, Haney just made the jump from company to independent agent when she joined FCNB in November. Previously she had worked for a full-line insurance company. “I thought people would be my clients forever, but when the economy turned down, they started shopping around for better rates, and I couldn’t help them.” As an independent agent, she can recommend different companies, considering her client’s lifestyles and cost considerations.

Different insurance companies prefer different types of customers, Haney said. “Some want young families; some want retirees. Some are very conservative, while others are willing to take risks. But I virtually never have to turn anyone down for a policy,” she said.

A resident of , Haney finds the local area near Missouri Route 109 just right for her style of sales and service. “It’s really a group of small communities, where people like knowing who they work with,” she said. “I knew getting established would be a long road. I still visit the businesses along Manchester Road to introduce myself, to get my name out. Business comes from referrals, and if you stay competitive, and you’re there for your clients, it will work out.”