Category Archives: Insurance

How to safeguard your personal information?

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In a digital age, there have been growing concerns about identity theft. The loss of your most important asset (identify) can create a series of problems including financial loss, crime target, and psychological stress. I would like share the following tips to protect yourself from the identity theft and scams.

  • Close your old e-mail and online accounts such as Netflix, Twitter, Groupon, eBay, Craftsy, or Etsy accounts that you no longer use. E-mail may contain a handful of your personal information that can be exploited by scammers. Other online accounts that you used for business transactions can still contain payment data that you may be unaware of.
  • Check your online bank and credit card accounts frequently for any sign of fraudulent purchases.
  • Recognize the sign of identity theft (e.g., bills for purchases that you did not make, debt collection calls, denials for loan application). For details, please refer to Experian https://www.experian.com/blogs/ask-experian/how-to-protect-yourself-from-identity-theft/
  • Change your passwords as frequently as possible. Though cumbersome, make passwords a mixture of uppercase letters, lowercase letters, numbers, symbols, while avoiding birth dates, phone numbers, family names, addresses, phone numbers, or social security numbers. You may also consider using a password generator for creative passwords.
  • Get your free annual credit reports from the three major credit bureaus on a periodic basis (e.g., every four months).
  • Do not overshare your personal activities with the social media friends. Do not post your personal activities (e.g., vacation photos) more appropriate for in-person conversation with trusted friends and family on social media outlets (e.g., Facebook).
  • Don’t carry your Social Security card in your wallet.  For more detailed tips for ID theft prevention, please refer to https://www.usa.gov/identity-theft
  • Consider using the ID Protection Services (e.g., LifeLock, https://www.lifelock.com/learn-identity-theft-resources-help-protect-yourself-identity-theft.html), if you can afford to so.

How to start your home inventory?

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In the event of burglary, fire or other disaster (e.g., tornadoes, flooding), you may not remember all of your possessions. To help streamline your insurance claim process and verify losses for your tax returns and re-purchase of lost/damaged items, you need to create a comprehensive home inventory. The following tips will be helpful.

  1. Document your belongings.
    • Begin by cataloging your possessions in terms of their values, time of their purchases and serial numbers (Usually found on the back or bottom of major appliances and electronic equipment) if applicable.
    • While you’re making your home inventory list, check with your agent to make sure you have adequate insurance for big ticket items such as Jewelry, art and collectibles before there is a loss.
  2. Consider using the mobile apps (e.g., AAA.com/homeinventory, the Insurance Information Institute’s Know Your Stuff home inventory app –  https://knowyourstufforg.wordpress.com/  or others –  https://www.denverpost.com/2017/06/27/free-know-your-stuff-home-inventory-app-ending/ to manage your home inventory.
  3. Keep copies in a safe place (e.g., safe deposit box, lock box or cloud storage service).
    • Store a copy of your paper inventory outside the home (e.g., friend or relative’s home, office).
    • Make at least one backup copy of your inventory document and store it separately.
  4. Make visual recordings (e.g., pictures, video tapes)
    • Create a photo record of your belongings. Label your photos with what’s pictured, where you bought it.
    • Walk through your house or apartment videotaping and describing the contents.
  5. Save your receipts
    • Hold on to your sales receipts and store them with the inventory. Scan the receipts and then keep them on an external computer drive or online storage account