Friday, September 30, 2016
Road of Life Events
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Buying A Car
The purchase of a new or used automobile is exciting. After choosing the make, model,
color and options, and spending a few hours in the car dealership, you will probably
want to do nothing more than drive away in your new car. However, before you do,
make sure you're covered! Buying a car affects your auto, home/renters and disability
All states in the U.S. require a minimum level of automobile insurance. States require
that you carry liability coverage which protects you if you cause bodily injury
to an individual or property damage to someone's property. Even though states require
a minimum level of coverage, you need to make sure you're fully covered.
While liability is probably the most important coverage, you should also have medical,
collision, comprehensive and uninsured motorist coverage. Medical coverage pays
your medical bills if you are in an automobile accident regardless of who's at fault
for the accident. Collision pays for damages to your automobile whether or not the
accident is your fault, and comprehensive coverage protects your car against theft
as well as other damages. Lastly, uninsured motorist coverage protects you and damages
to your car if a person hits your car and does not have insurance.
Before you buy a new car it's a good idea to find out how much auto insurance coverage
will cost you. Premiums vary greatly depending upon the make, model and year of
an automobile. You will want to make sure that your new auto insurance premium and
car payments fall within your budget.
Once you're ready to buy a car, the dealership will require you to show proof of
insurance. If you already have auto insurance coverage on an existing car then you
need to call your insurance company to have them add the new car to your policy.
If you do not have existing auto insurance then it's time to start shopping!
You may be thinking: What does home or renters insurance have to do with buying
a car? The truth is home and renters insurance plays an important role by protecting
your personal property left in your car. If you own a home, you should have homeowners
insurance, but you need to make sure that your policy has personal property coverage
with off-premises protection. It's this coverage that will compensate you if your
personal property in your car is stolen! Likewise, if you rent a home you want to
make sure you have renters insurance that covers personal property with off-premises
Disability insurance is one of the most important types of insurance because it
protects your most valuable asset, your future earnings ability. Over your life
you will earn hundreds of thousands of dollars unless you become disabled. If you
finance or lease a car you will be responsible for making timely monthly payments.
Should you become disabled, a disability insurance policy can provide you with a
monthly income to assist you with your car and other expense payments. Check your
employee benefits package at work to find out if you have long-term disability coverage.
If you do not have coverage, you should contact an insurance agent to help you obtain
a good policy.
Starting a New Job
Buying a Home
Renting a Home
Becoming a Parent
Getting a Divorce
Loss of a Loved One
Child Leaves Home