What You Should Know When Buying Insurance In 2018


The New Year is upon us and what will we do?

We will return to work, commute in traffic, research real estate online in hopes that the perfect home will come along.

You might have dreams and expectations for this coming year and what it will bring.

We may even have made plans for the year. Filled out our calendars and set goals for our families.

You see it all of the time, people with lists of new hopes and desires for the best year yet.

The new year does something to our brains. It is a way to re-group and re-discover ourselves.

But what about the practical side of things?

What literal tasks can we do to accomplish more this year than last year?

For starters, we can take a look at our budgets and the ways we can save money.

Maybe you want to work harder to get that promotion at work.

That’s great! When it comes to having great cheap insurance, there is only one thing you need to know: knowledge is power!

Take the time to research your insurance plans and policies.

See who is working for you and if you are happy paying for what you get.

Read this blog and find out everything you need to know about purchasing insurance in 2018.

You might be surprised at the effortlessness it can take when dealing with a broker.

There may be some discounts in your corner as well.

The time it takes to gain knowledge about insurance, could save you hundreds of dollars every year.

Let’s dive right in and see what we can make sense of.


The Law Of The Land


The first thing to know about insurance is that it should be working for you, not against you.

Let me clarify. You should only be paying for what you get and you should be getting more than you deserve.

If you purchase cheap insurance with one company, yet another has a better quote, why wouldn’t you take it?

Well, there might be a catch. This is why having a broker can be so valuable.

The broker works for the consumer: that’s you! They don’t make money until you are satisfied.

The best way to describe how important insurance is, is to compare it to a game of football.

What Types Of Insurance Plans Are There?


When you are just starting out in life, you might only need to worry about your car insurance and your health insurance.

But as time unfolds, so do the massive amounts of responsibility.

From buying a home, to purchasing a Recreational Vehicle. Having a baby and attaining that life insurance you have always wanted.

These elements to life sneak up on us. So what choices are there and how do you make them in regards to insurance?

Finding out the facts is the first step in this process.

There are many different insurance options available but here are the main insurances that people choose to have.


Car Insurance

Car insurance is the most purchased insurance in the United States. Hundreds of millions of people drive their cars.

Maybe it’s to work, or maybe to drop the kids off at school. Either way, cars are a large part of our daily lives.

Depending on what state you live in, the amount of car insurance you need varies.

Most of the time you will need the minimum amount of cheap insurance which we call liability insurance.

There is a minimum amount of insurance that you must have in California for example:

For those of us who have a loan out on a vehicle or who lease, this is what is expected of you:


You have other options to add to your policy as well:


Car insurance is one of the largest purchases you will make.

These basics will get you started.


What Kind Of Insurance Do I need To Purchase My Own Home?


Here is what happens when you are a little older and a little more established: you want even more security.

Some people choose to get it buy buying a home.

They look at it as an investment in their town, their happiness, their family.

Whatever your reason is for wanting to own your own home, you will need insurance.

The first type of insurance you may need is mortgage insurance. This is bought through a mortgage company.

If you put less than 20% down on a home, you will need mortgage insurance.

Is usually comes out to be about 1% of your homes value.  If you purchase a 300 thousand dollar home, figure that you might end up paying around $300 a month in mortgage insurance.

This may be a little higher than some policies, but it is a rough estimate.

Unfortunately in this economy, most people cannot afford to put 20% down on a home, and so mortgage insurance is very prevalent.

The other type if insurance you will want to have is homeowners insurance.

What is homeowners insurance?



First you need to look at what sort of things you want covered. The most important aspect is liability coverage. This covers accidents happening in your home. This will covered if you are sued or if someone is injured in your house. We all hope this never happens, but statistics show that liability insurance is always the way to go.


Other things homeowners insurance could cover are:



Your Life Is Valuable And So Are The Ones You Leave Behind


When people say things such as: “life is precious”, there is a meaning behind it.

The hidden riddle to life usually lies somewhere between bliss and death. You might not know what you have until it is gone.

This is far too true for many of us. But when it comes to insurance, you have the right to plan for even the worst case scenarios.

Some may call this “over-planning” but others call it smart.

I’m talking about life insurance and what it can do for your own life and the life of your dearest friends and family.

Life insurance is something that only about half of the nation actually has.

Although we all know we are going to die, only half of us are prepared for it.

What does that say about us as a culture?

Are we a little bit in denial about death? Perhaps.

But insurance companies know that for those of us who are planners, there is money to be made.

Life insurance can be really straight forward or very complicated.

You can buy a 20 year term life policy for $50 a month. Or, you can choose to make your life insurance policy more of an investment fund.

You will probably need a financial advisor for the latter suggestion.

The least you can do is be prepared for your loved ones paying off your debts and obligations. Don’t leave a spouse struggling to get by.

Don’t leave your family in mourning with no funds for your funeral. These can be taken care of quite easily.


Here is a simple breakdown of life insurance:


If you are the primary provider for others, it can also replace your income for them, or give them money for college or other expenses.

It can even be used to earn a cash value that you can withdraw or borrow against later.

A policy is a contract between a life insurance company and someone who has a financial interest in life value of someone else.

Sometimes it doesn’t have to be a person but a trust. Putting money aside for another individual in case of death can greatly benefit family and friends.

You can choose where your money goes if you also have a will.

Most of the time people choose to take out a policy which exceeds ten times the amount of their annual salary.

This means that if you are looking for an insurance policy, have a number in mind for how much debt you have.

This means your mortgage, cars, loans and everything else.