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Choosing the Right Insurance For You

Date: December 06, 2021
Category:

​When it comes to insurance, there are many providers and plans to choose from. Make the right decision for your needs and budget with these quick tips.

Shopping for insurance can feel overwhelming at times. With so many options available, how can you find the right coverage for you? We have some tips to help make the process a little easier. 

As you start shopping for insurance, ask yourself the following questions:

  1. How much coverage do I need? This will vary based on several factors, including your lifestyle and the size of your family. 
  2. What is covered?
  3. What type of plan is it?
  4. What is the monthly premium? This is the amount you or your employer are required to pay each month to maintain coverage. Compare your options to find one that you can comfortably fit into your monthly budget. Also, ask about discounts that may be available for members of certain groups (like veterans or union members) or good practices (like having a safe driving history).
  5. How much is the deductible? This is the fixed amount you have to pay before your insurance company starts contributing. Again, make sure you find an option that can fit within your budget.
  6. What is my credit score? This could impact your rate and even your accessibility to insurance. After all, credit is used to gauge your risk to a company. If your score could use some improvement, check out these tips for understanding and improving your credit.
  7. What is the age, model and value of the item(s) being insured? This is key with home or auto insurance. 

 Shop Smarter for Your Insurance Needs

When shopping for coverage, steer clear of pushy insurance agents who pressure you to make a decision quickly. Also, make sure you're only looking at companies that are licensed with your state and have good consumer reviews. Don't hesitate to reach out to multiple companies and compare a variety of quotes. With careful research and planning, you can avoid scams and bad deals, putting yourself in a good position to find the right insurance for your needs!​

For more tips on planning & protecting, visit our Financial Flexibility and Freedom page​.