Most people have a general idea that they need insurance, but many individuals don’t have a clear idea of which policies they need. This is a serious problem, because it means there are a lot of people who are either paying for things that aren’t really necessary or are inadequately covered. It’s important to periodically assess your situation and to make sure you’re buying the Insurance Products that are a good fit for you and your family.
Some products are mandated, but the requirements may not actually include the amount of coverage you should really want. If you have a mortgage, for example, you’re probably required to maintain an insurance policy on your home. Since the mortgage company is only concerned about protecting their investment in the home, that policy may not include adequate coverage for its contents. You should pay attention to how much the company will pay to replace items that are destroyed or stolen, and under what circumstances.
There’s also a minimum requirement for car insurance in most states for anyone who owns a vehicle. The legal minimum is generally very basic, and is mainly designed to ensure people you may hurt in an accident are protected. You should make sure you’re comfortable with the amount of coverage you have for your own car and for any injuries you may sustain yourself.
It’s also important to consider your realistic needs when it comes to life insurance. If there’s no one depending on you to provide for them, you most likely don’t even need this kind of policy. If you have children, a spouse, aging parents, or even pets that would be left without financial support if something happened to you, you should make sure a policy is in place to provide for them. That doesn’t mean you have to spend a lot of money to get a policy that will pay millions of dollars, though. Just worry about making sure there’s enough to provide for their realistic needs.
The Strock Insurance Agency helps people get a variety of Insurance Products that suit their personal and family circumstances. Every situation is unique, and you should make sure you have insurance that is a good fit for you.