5 Biggest Mistakes When Buying Insurance

Insurance can be a tricky purchase.  Auto lienholder happy?  Check.  Mortgage lender happy?  Check.

But this simply isn't enough!  Some things on your insurance policy deserve a little more attention.  As an insurance agent, here are some of the BIGGEST coverage mistakes I’ve seen.

Mistake #1:  Buying Only The Required State Minimum Liability Insurance

Every state has a minimum amount of liability insurance that is required in order to drive a car.  But it’s typically nowhere near enough coverage!  Choosing only the minimum liability insurance could leave you open to a lawsuit, garnished wages, or potentially losing an asset, like your home. 

Discuss different liability amounts with your agent to see what is necessary based on your income, net worth, and liabilities.  (Another bonus?  It won’t cost nearly as much as you might think!) 

Mistake #2: Not Insuring Your Home For Replacement Cost

Many people think they only need enough coverage to insure their home for the amount they paid for it.  Not true!  You need to be insured for the amount of money it would cost to REPLACE your home.

If a fire or tornado destroyed the house, you would need insurance to replace it.  The total cost could be tens of thousands more than the house would have sold for on the market.  If you’re currently only insured for the cash value of your home, you could be at risk! 

Mistake #3: Buying Life Insurance Through Work

Most people tell me that they have life insurance through work and aren’t interested in purchasing their own coverage.  This is also a mistake.

The problem?  The majority of us don’t stay at jobs for 30 years anymore.  And if you develop health issues and leave your current employer….you might not be able to get coverage again!

When you purchase your own life insurance (which is extremely affordable), you are covered no matter where you work or what health problems you might develop in the future.  It’s the smarter choice!

Mistake #4: Buying The Cheapest Policy

It’s tempting to shop for insurance and just pick whatever is the cheapest, but it’s usually not the best idea. 

First you want to make sure that you’re buying from a reputable company.  You want a solid insurance carrier that you can trust to pay your claims. 

And you want to make sure you’re comparing apples to apples.  Does the cheaper policy only insure your home for cash value instead of replacement cost (like mistake #2)? Does one company exclude water leaks but another cover them?  Big details can be hidden in the small print!

Mistake #5: Not Using An Agent

Best way to avoid ALL of these mistakes?  Work with an insurance agent! 

We know all about insurance and can find the right coverage for your specific situation.  We’ll make sure your liability limits are high enough, that your home will be replaced after a loss, that you won’t lose your life insurance when you change jobs, and that you aren’t buying an inadequate policy that doesn’t protect you.

Call us today for a quote!

508-347-9343 

March Home Maintenance Tips

What do you need to do this month to keep your home running smoothly and your family protected? Read below to find out!

Change Batteries In Smoke Detectors - When the clocks spring forward, take a few minutes to change the batteries in your smoke and carbon monoxide detectors. This way you know that they’re always in working order!

Make A Severe Weather Plan - March is Severe Weather Preparation Month. Designate a safe place in your home in case of dangerous weather. Stock it with basic emergency supplies and throw in an extra flashlight, batteries, and a weather radio too! Make sure the entire family knows where to go during a severe storm and how to get alerts.

Check Your Credit Report - March is also Credit Education Month. When was the last time you checked to see that your credit reports were accurate? If it’s been over a year, stop by www.annualcreditreport.com and order a free copy today. Then use an app like Credit Karma to check your credit score with multiple bureaus. These steps can help you catch identity theft or errors. Plus, good credit saves you money on interest and insurance!

Review Your Insurance Discounts - Are you getting all the discounts you qualify for? While you’re busy preparing your taxes and spring cleaning, take a few minutes to call us to review your policy! We’ll make sure your information is all up to date and that you’re receiving every discount that you qualify for.

And as always, give us a call at 508-347-9343 if you have any questions or need assistance with auto, home, business, or life insurance. 

Insurance For Newlyweds

February is one of the busiest times of the year for engagements and weddings. And if you’re planning to tie the knot soon - congratulations!

Now it’s time to think about what this means for your insurance! When you get married and combine two households, there are some important insurance things to think about. Let’s go over some of the most common (and often overlooked).

Once you’re married, you’ll want to combine your vehicles onto one auto insurance policy. Bonus? Many times you’ll get a discount when you have multiple vehicles on one policy! If you only own one vehicle, just make sure to add your spouse to the policy.

Next you’ll want to make sure that you have renters or homeowners insurance in place for your new household. If you’re keeping your current residence, just have us add your spouse to the policy. If you’re renting and don’t have coverage, have us quote a renters insurance policy! You’ll save on your auto insurance PLUS protect all of those fancy wedding gifts!

And finally, have a conversation about Life insurance. No one wants to think about this important coverage but if you’re planning to start a family or if your spouse depends on your income, then now is the time to get it started. We can quote an affordable life insurance policy to protect your new family.

None of this is time consuming or difficult! In fact, it can usually be done in one short phone conversation. Call us today at 508-347-9343 to discuss your policy!  

Why You Should Buy Life Insurance During The Holidays

Have you ever considered Life Insurance to be a gift?

No it doesn’t come wrapped in a box with a big bow.  And it’s not all that exciting.  But, in my opinion, it really is the gift that keeps on giving.

Life Insurance has gifted families in so many ways.  After the loss of a breadwinner, children have been able to go to college without debt.  Parents have been able to stay at home with their children without needing to go back to work.  Homes have been paid off and long-term dreams have been realized.

All because a family member made the decision to purchase life insurance.

No one wants to think about this coverage, but if there is someone out there counting on your income and support right now…then you need it. 

And we can help you make it extremely easy and affordable.  In fact, studies have shown that most people overestimate how much life insurance by as much as 10x it’s actual cost!  There are options for everyone.

So why think about it now? 

If you currently don’t have any life insurance or you only have it through you work, then it’s time to come in and talk with us.  We can look at all of the options and find the best solution for your family. 

And if you’re struggling with what gifts to buy at Christmas….then look no further!  Your family members don’t need another sweater they’ll never wear or a new set of pots and pans.  They need long-term peace of mind and protection.

Let us help you gift that today.  Give us a call at 508-347-9343 to set up an appointment.

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.

Life Insurance Is For Those You Love

A lot of people put off purchasing life insurance because it seems like a hassle.  You don’t want to do any sort of medical appointment.  It’s an extra expense.  And, for the most part, you just plain don’t want to think about death.

But life insurance isn’t about you.  It’s about the people you love.  And what better time than now to think about the people you love! 

So let’s get real.  You do a lot for your family and if you have family members who depend on your income, then you need life insurance.  And the sooner, the better.

For one, life insurance is cheaper when you are young and healthy!  With each birthday you’ll see your quote go up unless you lock in a great rate now.  And you don’t want to look for life insurance after you’ve been diagnosed with an illness.   

Another great thing about life insurance is that there are a lot of options.  And we’re here to discuss all of them with you.  You can purchase a policy for the short term or even as a long term investment.  It all depends on how much you can afford to spend and what your family needs are. 

Whatever your situation, sitting down and discussing your needs and budget with an agent is a great first step.  Call us today at 508-347-9343 to set up a free, no-obligation appointment!

Avoid Running Out of Money During Retirement

Many people have no idea how much money they will need to retire and/or think that they have plenty of time to plan for it. Before you know it, you’re about to retire and feel completely unprepared. Do you know how much you need to have available at your retirement? You need to consider your life expectancy and how much money you’ll need to maintain your lifestyle (which includes inflation). See your personal Financial Planner today to discuss what you’ll need to be able to have a retirement that is as stress-free as possible.