You’ve likely heard the term “Double Check” by now. If not, you’ve undoubtedly missed most major sporting events in the past few years. A clever slogan to assist in advertising for a major insurance company leaves most people wondering what it actually means, although most interpret that the concept is connected to Aaron Rogers, quarterback for the Green Bay Packers.
Frankly, the term has nothing to do with football, unless you feel that Aaron’s audible check at the line of scrimmage counts. While it makes sense for Aaron to double check the defensive coverage before running a play, the ad is actually encouraging you to double check your insurance coverage for the opportunity to receive discounts.
Nowadays, most insurance carriers provide for discounts or, more appropriately termed from an underwriting perspective, premium credits. For instance, if you have a back-up generator to protect your home from the effects of a power outage, there typically is a credit that helps to reduce your premium. There are more examples of available credits; however, the point is that you should check to see if you are appropriately underwritten, based upon the reality of your situation. Many times, people go for years, despite improvements and alterations to their homes, without reviewing their coverage. It helps to review your coverage limits, what’s actually covered and any details that have changed regarding your home (i.e. the installation of an alarm system, etc.) or autos and other valuables every year.
Additionally, most insurance companies also provide a discount for having more than one line of coverage placed with the same company. Termed as bundling, if your home, auto, umbrella liability and collections policies are all placed with the same company, odds are that you are receiving a bundling discount on your premium. Most of the time, it takes only having more than one policy with the same company to receive a bundling discount. Discounts vary across companies and based upon the risk.
So there you have it. That’s what the double check is all about. Now that you understand the concept, you can take the appropriate steps to proactively manage your play regarding your insurance coverage. While one major insurance company has mastered the art of advertising the concept, the savings and, more importantly, the discipline is available across the market, notwithstanding the company with whom you are insured.
