The start of a new year is the perfect time to take stock of insurance policies to make sure they really cover what an insured thinks they do. Too often, policyholders purchase insurance for an event they assume will not occur and once it's filed away, they rarely take the time to review it in light of any changes they've experienced after its purchase.

The Property Casualty Insurers Association of America (PCI) believes that one good New Year's resolution is to review Homeowners, Renters and Auto insurance policies so there aren't any nasty surprises if the unexpected happens.

"This is the perfect time to review your policy and make sure you have the coverage you need whether a natural disaster or other emergency occurs in the New Year," says Chris Hackett, PCI's director of personal lines. "Having a conversation with your agent or insurance company can help prevent you from being caught financially unprepared."

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