What Type of Insurance Do I Actually Need and Why?
Insurance is much like a seat belt: you put it on ‘just in case,’ as the cost of putting it on far outweighs the risk of either getting a ticket or getting hurt in an accident.
What is the difference between an insurance broker and an insurance agent?
An insurance agent represents one or more specific companies and works on commission. On the other hand, an insurance broker represents you and will aim to find the best terms, conditions, and prices from multiple sources for you as their client.
We recommend looking for the following red flags when looking for the right insurance agent:
– Pressured, aggressive, or pushy sales technique – Cold calling – Direct payment – Questionably low premium – A lack of web presence, address, or credential – Suggestions of overvaluing item
What insurance is considered essential?
There are core types of insurance that almost everyone should have to protect their assets and their family’s future, which include:
Health insurance may be difficult to justify when you are young and healthy. However, sudden illnesses and accidents can easily bankrupt you or your entire family.
An employer often provides disability insurance, but it is best to double-check that this is the case and also what instances you may or may not be covered. Insurance payouts can also take months or even years.
Not everyone needs life insurance. Planning for your own demise is not a task that anyone relishes, but it is the responsible thing to do to ensure your family’s well-being.
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