Insurance more often than not is a very confusing subject for most people. Most of us don't know enough about insurance to feel confident enough to begin a conversation about insurance. There is health insurance, homeowners insurance, car insurance, life insurance, renters insurance and the list never seems to stop. We all know that we need insurance of some form or the other but most people don't know where to get started in the looking process.
This is my suggestion on insurance of any kind. Find a friend that can give you the name of an insurance provider that they trust. I always feel better starting any adventure with a trusted partner.
Next, decide what types of insurance you are looking to purchase. Now talk with the insurance provider; they can help you decide if you have the proper coverage for your needs. There are many types of insurance and many insurance companies. There are plans to fit most everyone’s needs. This is true with any form of insurance.
Make sure that the deductable fits within your budget. Keep the deductable low enough that you can afford to pay it or make sure you have enough money put away to cover your deductable. I would suggest that you put this money away in an envelope or savings account to cover the deductable so that it is ready when you need it. I have found that it is not a case of IF the deductable is needed; it is a case of WHEN it is needed.
If you have a major illness or accident, a $5000 deductible will be very difficult to come up with along with the payments for the bill itself, whereas a $1000 deductible will be much easier to afford. This is why the deductable needs to be low enough that you can cover it if and / or when it is needed or have the money put away before hand.
It is always better to be prepared than to wait until something bad happens and then try to figure out what to do.
A few last tips before you decide to purchase insurance for yourself or your family.
1. Get several quotes. You always want the best deal on any item that you purchase.
2. Look for a discount. There are many different types of discounts depending on what type of insurance you are looking to purchase.
3. Check out the insurance company's record of accomplishment. You want to know how good the company is at paying off when needed. Check with your state's department of insurance.
4. Always review the new policy before you sign anything. Make sure that you understand every part. Don't feel badly if you need to ask question, that is what the insurance agent is there for.
5. Make sure you check the date of activation on the new policy and cancel the old policy after you are covered with the new company. You never want to be left uncovered.
So do your research and talk to an insurance agent that will walk you through the process of finding the correct insurance. Know your budget before you talk with the agent and get the proper insurance for you and your family.