When your life changes, your insurance often needs to change with it. Yet it is not always clear what kind of protection you, your family or your business really need.
Enter your insurance agent. He or she is there to help you get straight to the square.
I do not know how to start? Here are six questions to ask an insurance agent.
1. Do I need extra insurance if I remodeling or adding to my house?
In some cases, remodeling projects may increase the value of your home. If they do, you'll want to adjust your insurance coverage to cost of rebuilding your home is fully protected. Your insurance agent can advise you in this situation. He or she can also let you know about an entrepreneur insurance types must be in place before work begins.
2. What coverage do I need for my home business?
Inventory of defamation issues for customers who visit your home, home businesses really need coverage. Depending on the nature of your home business, you may need a simple endorsement to your home insurance policy or a new policy.
3. My family is growing and changing. What coverage should I consider?
Life insurance is something most families need. The main reason most people buy life insurance is to cover the financial impact of an unexpected or untimely death. To get a rough idea of how much you need, see the life insurance calculator. *
If a teen in your house is to learn to drive, you will definitely want extra car insurance.
A typical homeowners policy covers personal effects and household goods up to certain limits of the policy. For high value items, such as a diamond ring, a rare piece of art or expensive electronic equipment, you can extend your protection with higher political limits or additional coverage.
4. I'm fresh out of school and back to the workforce. What coverage do I need?
If you have left home and are renting an apartment, you are not covered by the policy owners of your parents. Instead, you'll need renters insurance to cover your possessions and more.
Regarding auto insurance, you may be tempted to buy a bare bones policy to save money. It's a risky move because it can not give you enough protection. If your insurance policy does not cover any damage, savings and future earnings could be at stake.
If you have loans or student debt, ask an insurance agent about insurance -life. It can not be something you want to think, but you want enough life insurance coverage to cover final expenses as a funeral service should something happen to you.
If someone like a parent co-sign on your loan, life insurance can help them avoid getting stuck with the bill. The good news? Life insurance is much cheaper than most people think and that is especially true when you are young and healthy.
5. A friend was continued after a car accident. How can I make sure I am protected against something like that?
Your insurance policy already includes liability coverage, but the minimum of the state are almost never enough for most drivers. Having too little liability insurance you and your assets in danger.
responsibility for personal disaster (PCL) coverage (commonly called "umbrella" coverage) provides an extra layer of liability protection beyond your auto insurance policies and owners in case you (or a member of the family covered) are sued. For most people, an additional $ 1 million in coverage costs less than $ 20 per month. Your insurance agent can discuss your limits auto insurance policy and tell you more about this coverage.
6. How can I save money on my insurance?
Almost all insurers offer price reductions on the cover based on having a safe driving record and grouping your self and coverage owners. There are also other ways to reduce your bill.
It is important, however, to be careful about choosing an insurance company based solely on price. Instead, look for companies with a reputation for excellent customer service, strong financial capacity and a reputation for handling claims quickly and fairly.
No matter what stage of life you are, seek the advice of a professional insurance as an Erie Insurance agent. An insurance agent knows how to help you find the right coverage at the right price.
* Erie Family Life insurance policies are not available in New York.
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