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 WASHINGTON, July 27 /PRNewswire/ -- When putting your financial plan together, don't underestimate the value of auto and homeowner insurance. They are every bit as important to such a plan as investment strategy or retirement considerations.
 "The most carefully conceived financial plan can be ruined by an unforeseen accident if your insurance isn't adequate," warned Tony Nicely, president of Government Employees Insurance Company (GEICO). "Any financial planning you do should include regular reviews of your insurance coverage."
 Conducting such a review can be enlightening, especially if you haven't done so for several years. Coverage that was adequate when you bought it may leave you exposed to financial peril now. Conversely, coverage you needed then may no longer be necessary. Either way, you may not be getting the best value for your money.
 "Ask yourself how your circumstances have changed since you bought your insurance," Nicely suggested. "You may be able to improve your coverage and save money at the same time."
 First and foremost, shop around. You'll be surprised at how much difference you'll find between different companies' prices for the same coverage. Be sure to ask about:
 -- Higher deductibles. You can often lower your premium rate if you're willing to cover a bigger portion of the risk.
 -- Discounts. Many companies offer homeowners discounts for smoke detectors, alarm systems and non-smoking households. Auto insurers may offer discounts for multiple cars, safe driving, air bags, anti-lock brakes and more.
 Homeowners whose property or possessions have increased in value may need to increase coverage. Inventory your possessions, estimate the cost of replacing them and your home, and adjust your insurance coverage accordingly. Keep the inventory somewhere other than your home so you'll have it for reference should your home be destroyed or burglarized.
 Before you buy a car, check insurance prices. Expensive-to-repair cars and those that are popular targets for thieves carry higher insurance premiums than other models.
 "Financial planning means more than just investment strategy," Nicely said. "The choices you make about your insurance are just as important in preserving your assets and saving money."
 GEICO Corporation (NYSE: GEC) is the parent company of Government Employees Insurance Company, which is referred to as GEICO. GEICO insures private passenger automobiles of preferred-risk individuals employed by the federal government or the military. It also provides homeowner coverage and other types of insurance for qualified applicants. GEICO General Insurance Company, a subsidiary of GEICO, insures private passenger automobiles for preferred risks other than federal or military employees. GEICO Indemnity Company insures standard-risk individuals.
 -0- 7/27/93
 /CONTACT: Greg Marsh of GEICO, 301-986-2993/

CO: Government Employees Insurance Company ST: District of Columbia IN: INS SU:

LV -- NYFFNS5 -- 5993 07/27/93 06:50 EDT
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Publication:PR Newswire
Date:Jul 27, 1993

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