Modern America: What You Need To Succeed

Tuesday, May 7, 2019

Insurance Products That Help You Thrive

 

Living the American dream isn’t what it used to be. In fact most young adults will need to work twice and hard and twice as long to attain what their grandparents could. After High School you must attend a four year University. And to get in you’ll need at least a 4.0 grade point average. After getting a Bachelors Degree you will want a higher education to ensure that pay raise once you are hired. You might spend another two years obtaining a Masters Degree or Teaching Credential. Then, if you are lucky you won’t have much debt left over. But most college graduates have at least 40 thousand dollars of student debt. Yes, there is a low percentage rate attached, but that is a lot of money to pay off without even obtaining your first job.

It’s true, some people choose to work straight out of high school. But unless you have a strong entrepreneurial spirit, it can be tough. A lot depends on the status of the American way. What public programs are at work in your state and what can be Federally funded plays a part as well. So many factors go into your success as a person and business person. This is why, when you get the chance to save money, you do right?

Protection That Counts

We all need a little boost from time to time. We also all need protection. When it comes to buying your first car, your first house or even your first RV, you will want a great cheap insurance plan that works. Many young professionals don’t think twice about insurance. But int he real world, your insurance bill is the second most important check you write each month, right after the rent or mortgage. Why? Because insurance saves you time, money, and frankly could save your life.

Talking about insurance seems boring to most. Even the most respected fail to understand how to properly obtain insurance and why. Things like life insurance are a huge mystery to most. There is a wealth of knowledge out there. But most are uneducated when it comes to the importance of protecting your assets like you home, car and family. Today as Americans, we emphasize homeownership but not the ins and outs of protecting and maintaining the integrity of the home. We pride ourselves on the fast and luxurious cars, but don’t understand that insurance rates spike when you have a large engine or more horsepower.

Basic Insurance Success

If you are looking for your first car, your first house or even looking forward to the arrival of your first child, you will need insurance.

Before obtaining insurance or knowing what kinds are out there, you will want to talk with a reliable professional who knows the ropes. An insurance agent or broker can lead you in the right direction when searching for multiple insurance policies at once. You can even “bundle” your insurance policies with the same company. Many insurance companies offer every different type of insurance policy, and some just offer a few. Most major insurance companies will have everything from basic state required auto insurance as well as health insurance or life insurance. Health and life insurance can be tricky, so you will want help with those. Let’s break down your needs and basic insurance premiums next.

Car Insurance

If you are looking for cheap car insurance in your area, that should be a breeze. You can get an online insurance quote for a car almost anywhere. And most insurance companies are pretty comparable. But the key is to do your homework. Getting the cheapest car insurance might means you’re skipping out on something you really need like roadside assistance. Understand the laws of your state before you begin shopping. Every state is different.

For instance the state of California require this:

  • Bodily Injury Liability Limits: $30,000 per occurrence/ $15,000 per person
  • Property Damage Liability Limits: $5,000 per occurrence

These cheap car insurance options will only protect the other party involved in a crash. There are other options which will protect your and your own vehicle. And in many states you will be required to obtain cheap SR22 insurance if your license has ever been revoked. You can talk more about this with a reliable broker.

Here is what else you could receive with your car insurance plan:

  • Collision coverage which will make sure that your own vehicle is covered in case of an accident. Most of the time you will have a $500-$1000 deductible on this coverage.
  • Comprehensive coverage is a great addition to your policy because if will cover you in case of theft or minor damages not incurred in an accident.
  • Medical coverage for you and your passengers- Medical coverage can make a huge difference for your security and safety.
  • Towing and roadside assistance- You may not only need this for a crash, but if you break down. Roadside assistance can save you time and money.
  • Rental reimbursement- You could be covered or reimbursed for a rental car when you are involved in a crash.
  • Uninsured Motorist coverage- this will make sure that you are still covered even if someone without insurance hits you.
  • Full glass coverage- this is additional coverage for your car to cover glass windows and doors.
  • Loan/lease coverage- when you have a loan or a lease out on a vehicle, your coverage needs to be different. Most of the time a full policy is required.
  • The number of uninsured drivers in California are estimated to be as high as 23%. Keep this in mind when you are choosing whether or not to purchase the optional Uninsured Motorist Coverage

summing it up

Car insurance can be straight forward if you know what you are looking for. Make sure you understand that having two or three cars on your plan won’t cost you much more. It is always a great idea to obtain the maximum amount of car insurance you can. This way you never have to worry out on the road. Let’s face it, being successful in American means having a car. We rely on our cars for that long commute to work. Or for the safety of our family on road trips. You truly should not skip on the essentials of great car insurance. Shop around but know that saving on car insurance can come down to many factors.

Factors For A Great Rate On Car Insurance

  1. Where you live. The safer the neighborhood the less your car insurance could be
  2. If you are married. Married people are more likely to drive home safely.
  3. How big of an engine your car has. The larger the engine the more likely you are to speed and get into an accident.
  4. The make and model of your car. Many times older cars are less expensive to insure. Trucks can be more expensive than cars.
  5. How far you commute and how many miles you put on your vehicle annually. The more you drive, the more likely you are to get into an accident. The further you drive the more chance you have of getting into an accident or getting a ticket.
  6. Your age plays a large factor. Most people over the age of 25 have been driving for ten years and usually have a lower car insurance rate.

Owning A Home And Protecting It

For many, one of the biggest accomplishments of their life will be owning a home. Depending on what state you live in, this could take years. Not only do you have to save up for a down payment, but between mortgage insurance, property tax and cheap homeowners insurance, you will be paying more than you might think. That is why it’s always a good idea to save where you can. Take your time when choosing a house. It may be the American dream to own a home with a white picket fence, two car garage and a dog in the backyard, but think about it first. Is it a smart move for you to own at this time in the market? Can you easily afford a home on just your income? There are many things to consider before grabbing those keys.

First things first, you will need to carry a homeowners insurance policy. Banks make you do this as collateral. You will also want to have this insurance in case someone steals something from the home. When you purchase a home, home lenders require you to have a minimum amount of coverage in order to protect what they are financing.

Here is what could be covered in a policy:

  • Damage to your home, including permanent structures on your property—unless your policy specifically excludes the cause of the damage
  • Damage to personal property, meaning the items in your home that are not attached to the dwelling, due to causes outlined in your policy
  • Liability coverage for legal matters or accidents that occur on your property
  • Loss of use, which allows you to maintain your lifestyle at another residence while your home is being repaired without incurring additional costs
  • Limited coverage for items such as stolen jewelry—the amount of coverage varies depending upon state of residence, and you always have the option to increase this coverage.

Home is where the heart is. And in America, the dream means sacrificing, working hard and facing challenging obstacles to obtain it. But owning a home is well worth the wait. With multiple government backed housing programs such as the first-time homebuyers program, you could have real options. Get into a house at only 3% down instead of the usually required 10% or 20%. Do your research before you buy and always carry a reliable homeowners insurance plan.

The Best American Life

 

Life is full of ups and downs. One thing that no one can plan on is the death of a loved one in the family. If you have dependents that rely on your income to survive, you may want to consider a cheap life insurance policy. 

Most people don’t even understand that a policy like this is available for them and their families. Life insurance can be tricky and there are a couple different types of policies you can sign up for. Be sure to talk with an insurance broker to find out more about these options. First, you may be wondering what life insurance is and why you need it.

What is life insurance?

Life insurance 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 have no idea when you’ll need insurance so that’s why it’s important to plan ahead. There are many types of insurance products out there, but it can really comes down to two products: permanent and term life insurance products. Your insurance needs will change over time, just like you will. Experts suggest you review your policy every six months to make sure you have all the coverage you need. You work hard for what you have, and to provide for those who are depending on you.

A life insurance plan is part of being a modern American because we as a society like to plan a head. If nothing else, having life insurance could help pay for funeral arrangements and over due debts when you are gone. Many people think of life insurance as an investment tool. But really, it is more of a risk management tool. You want to reduce the financial risk for others after your death. Sometimes life insurance can be a tax deduction, so in this way it can have investment opportunities.

The American Dream Revisited

More often than not, we are so excited to grow up, move out of the house and get our lives sorted. But many times people are under prepared and not aware of exactly what it takes. Getting a great job is part of the puzzle. Finding the right partner is another part. Being financially responsible is a huge missing piece. But protecting what is yours is just as important. This is something most people understand conceptually b ut have no idea how to attain it.

Getting the best cheap insurance you can find for your car, home, life, motorcycle and yes even recreational vehicles means shopping around. Saving money means understanding what discounts are available and how you can qualify for them.

Get organized this year and be insured for what you are worth. The time has come to truly live your American dream. It means hard work and diligence. It also means safety and perseverance. Go shopping for the insurance that can keep you and your family healthy and thriving for years to come. Cover all of your bases by talking with an agent or broker who understands the process. And remember to always get multiple quotes before deciding on an insurance company.

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