Your Insurance Financial Plan

There are many aspects to successful financial plans.  Most include a family budget, emergency savings, retirement savings, and…insurance!

So today, let's review the important parts of your insurance financial plan.

Protect Your Stuff - 

This is what we think of first when it comes to insurance.  Fixing your car after an accident and replacing your belongings after a fire.  When you review your financial plan, you want to make sure that all of your valuable assets are protected.  Cars, homes, high priced jewelry or artwork, boats, motorcycles, ATV's, etc.  Protect it all and make sure that the deductible is reasonable and that you have full replacement cost coverage.  (We can explain all the details.)  

Protect Your Money - 

Liability is a misunderstood coverage, but it's extremely important.  When you are held responsible for an accident, your assets and money are at risk!  What if your teenager caused an accident and your were sued?  What if you caused a major accident and didn't have enough liability coverage?  Good insurance can make sure this doesn't happen!  We look at how much you have to protect (total assets) and create a plan to cover it all.

Protect Your Family - 

You can protect all of your belongings, but the ultimate way to protect your family is with good life and disability insurance.  If something happens to you, you don't have to worry about your family being protected.  You can plan to pay off debt, pay for college, or anything else that is important to you.  

All of this might seem like a lot for think about, but it doesn't have to be.  With a great insurance agent, you can meet once a year and trust that all of these things are taken care of.  Why not take a few minutes to schedule an insurance financial planning review with one of our agents?  Call us today at 508-347-9343!  

How To Choose An Auto Insurance Deductible

When quoting auto insurance for clients, we frequently discuss how to choose the right deductible.  I thought I’d take a few minutes to share this information here on our website too!

A deductible is the amount you pay out of pocket when you have a claim.  If you have a $500 collision deductible and have an accident, then you would pay $500 towards repairing your vehicle and insurance would cover the rest. 

The deductible you choose directly relates to the amount of money you spend on premiums each month.  The higher the deductible ($250, $500, $1000), the lower your monthly cost. 

So how do you choose?  Cheaper price or lower out of pocket expense?

First, look at your emergency savings.  Do you have enough cash available to cover a higher deductible if you had to pay it?  If the answer is no, then you’re better off paying a little extra each month.

Compare the cost savings.  When we run a quote, we can show you several different options.  Ask your agent to run the premium based on several different deductibles so you can see the actual dollar cost savings.

You can always change your mind.  If you’re short on cash now, but know you could afford more out of pocket next year, you’re always able to change.  Keep your deductible in a comfortable range and you’ll always be well protected! 

Call us for more information and a personalized quote! 

Life Insurance Is Affordable

September is Life Insurance Awareness Month. You’ll probably see TV commercials and magazine articles talking about why this coverage is so important all month long. And you probably already know it’s important. But that doesn’t mean that you’ve got your policy set up yet!

The Life Foundation says that only 62% of people who believe they need life insurance, actually have it. And even those that have it only carry enough to replace their income for 3.6 years. If you have young children to support, that is simply not enough time! And if you're skipping life coverage all together, then you are putting your family at risk.

So why do people wait too long to purchase life insurance? Well, the Life Foundation also says that 86% of Americans say they haven't purchased it because it's "too expensive,” yet overestimate the cost by more than 2X!

Life Insurance rates are based on a number of factors, including age, health conditions, and smoking status. By not smoking and purchasing when you're younger, you can save substantial money. In fact, many term life policies are less than $30 per month!

Here’s what we recommend...call the office and set up an appointment with Dennis McCurdy, our life insurance specialist. Bring information on your annual income, as well as any debts (like your mortgage). We’ll give an accurate picture of how much coverage you need as well as different ways to make it affordable. Don’t wait another minute! Call us today to set up an appointment.

"Back To School" Insurance

August is over, and the kids are going back to school! What does that have to do with insurance? Here are a few things to keep in mind.

Good Grades - Do you have a teenage driver in the house (or one on the way)? Many policies allow discounts for students with good grades. Don't forget to talk to your kids about the importance of keeping those grades up! These discounts can apply to college students too.

Driver Training - There are different discounts available for Drivers Ed classes. We

can review all the options and let you know which discounts will impact you the most.

Moving To The Dorm - Is your college student living in the dorm this semester? Your Homeowners Insurance may cover their belongings without additional coverage being needed. This is called Property Off Premises coverage.

Remember, any claims would be subject to your deductible which is usually higher on home policies! Let us review your policy to check for the specific amounts of coverage included.

Moving To An Apartment - Let's say your college student has graduated from the

dorms and moved on to an apartment. If your child is financially independent, your Homeowners Insurance would not cover their belongings and they would need their own Renters Insurance policy.

Renters Insurance is very affordable and covers all of the contents of the property. It also provides liability insurance if someone were injured in the property or if the student caused a fire, etc. By making sure they are properly insured, you are also protecting yourself.

We work hard to make sure all of our clients have the right coverage at all times. The fastest and easiest way to make sure your student is receiving all the discounts they qualify for and that their belongings are covered at college is to schedule a review! Call to review your policy and situation and we'll make sure all of your questions are answered.