Do You Have Life Insurance?
How’s your insurance looking? If you’re not sure, never fear. Millions of Americans around the country are asking themselves the same question in light of changing healthcare ordinances and fluctuating income. Auto insurance, boat insurance and motorcycle insurance are all necessary support systems that can see you saving more money in the long run as well as protecting your belongings in light of an accident. Not sure where to start? Let’s take a look at the most common forms of insurance below. As conventional wisdom goes, it really is better late than never!
Life Insurance
Let’s start off the list with the most broad form of insurance. While around six in 10 Americans say they own a form of life insurance, almost half of them have insufficient coverage to address the financial needs of their family upon their demise according to a recent survey by Bankrate Money Pulse. More than one in three parents of children under the age of 18 have no life insurance whatsoever, with another third having more than $100,000 in coverage.
Recreational Vehicle Insurance
Do you own a vehicle? You’ll want to look into recreational vehicle insurance for saving you money and giving you peace of mind. Over one million people die in car accidents every year around the world and even a simple crash can set you back thousands of dollars in repair and hospital bills. The AAA’s 2016 Your Driving Costs assessment study found the average cost to both own and operate the average sedan was nearly $9,000 the previous year, down only a little bit from 2014.
Disability Insurance
If you have a form of mental or physical disability you’ll want to look into a form of disability insurance. Almost 14% of Americans own long-term care insurance, while another 26% have disability insurance or a similar form of financial support. Not sure if you qualify for disability coverage? Check your local state laws and ask a representative to give you a proper overview.
Homeowner’s Insurance
Last, but not least, we have homeowner’s insurance. Whether you own a home or are renting, you’ll want to check out insurance to give yourself a little support throughout the year. Homeowner’s insurance covers your damages if your belongings are stolen in a burglary or damaged in a fire. Contrary to popular belief, you don’t need to be a homeowner to still reap the benefits of a form of insurance — renter’s insurance offers very similar coverage and can save you hundreds, even thousands, of dollars. Similar coverage includes condo insurance.
Finding The Right Insurance For You
Now that you’ve done a little research into different forms of insurance it’s time to figure out which one is best suited to your needs. Obviously if you don’t own a vehicle or a boat you won’t need recreational vehicle insurance! However, life insurance is a must-have to give both yourself and your family peace of mind, while homeowner’s or renter’s insurance is vital for day-to-day living. If your belongings are lost or you obtain a severe injury, you can save money and get back on your feet faster with insurance’s help. Which one will you apply for?
