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.
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.
What is the difference between an insurance broker and an insurance agent?
How do you find the right insurance agent or broker?
We recommend looking for the following red flags when looking for the right insurance agent:– Pressured, aggressive, or pushy sales techniques– Cold calling– Direct payments– Questionably low premiums– A lack of web presence, address, or credentials– Suggestions of overvaluing items
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.
If you have a mortgage on your home, your bank will likely insist that you take out homeowner’s insurance. As your home is typically your biggest asset, it is instrumental that you protect it and the contents from natural disasters, burglary, fire, or extreme weather.