This is a great article – wanted to share it with everyone. Sandi
By: Carolyn Sennett
When your life changes, your insurance often needs to change with it. Yet it’s not always clear what kind of protection you, your family or your business really need.
Enter your insurance agent. He or she is there to help you get everything squared away.
Not sure how to start? Here are six questions to ask an insurance agent.
Life insurance is something most families need. The primary reason most people buy life insurance is to cover the financial effects of an unexpected or untimely death. To get a rough idea of how much you’d need, check out this life insurance calculator.*
If a teenager in your home is learning how to drive, you’ll definitely want additional auto insurance.
A typical homeowners policy covers personal belongings and furnishings up to certain policy limits. For higher-valued items, such as a diamond ring, a rare piece of art or expensive electronic equipment, you may want to expand your protection with higher policy limits or extra coverage.
If you’ve left home and are renting an apartment, you’re no longer covered by your parents’ homeowners’ policy. Instead, you’ll need renters insurance to cover your belongings and more.
When it comes to auto insurance, you may be tempted to buy a bare bones policy to save money. That is a risky move because it may not give you enough protection. If your insurance policy doesn’t cover all the damages, your savings and future wages could be at stake.
If you have student loans or debts, ask an insurance agent about life insurance. It may not be something you want to think about, but you want enough life insurance coverage to cover final expenses like a funeral service if something were to happen to you.
If someone like a parent cosigned on your loan, life insurance can help them avoid getting stuck with the bill. The good news? Life insurance is far cheaper than most people think—and that’s especially true when you’re young and healthy.
Your insurance policy already includes liability coverage, yet state minimums are almost never enough for most drivers. Having too little liability coverage put you and your assets at risk.
Personal catastrophe liability (PCL) coverage (commonly known as “umbrella” coverage) provides an extra layer of liability protection over and above your auto and homeowners policies in the event that you (or a covered family member) are sued. For most people, an extra $1 million in coverage costs less than $20 a month. Your insurance agent can review your auto insurance policy limits and tell you more about this coverage.
Nearly all insurers offer price breaks on coverage based on having a safe driving record and bundling your auto and homeowners coverage. There are also other ways to lower your bill.
It’s important, though, to be cautious about selecting an insurance company based solely on price. Instead, seek out companies with reputations for excellent customer service, strong financial standing and a reputation for handling claims quickly and fairly.
No matter what stage of life that you’re in, seek the advice of an insurance professional like an Erie Insurance Agent. An insurance agent knows how to help you find the right coverage at the right price.
* Erie Family Life insurance policies are not available in New York.
Link to original article: https://www.eriesense.com/questions-to-ask-an-insurance-agent/