By December 1, 2011 Read More →

The Importance Of Insurance To Your Family’s Health And Wealth

In the past, this industry used to be shrouded in mystery, and it was very difficult to compare costs and benefits directly between different companies. With the emergence of the internet, more and more information has become available and it is now possible to compare different companies and find online cheap insurance quotes from your computer.

Most people hate sending off a check every month or seeing a large chunk deducted from their paychecks to pay their insurance premiums. Whether it’s medical, home, renters, flood, or life, premiums can be costly and may even seem unnecessary to you. However, skimping on certain types of insurance or, even worse, going without it can be dangerous and catastrophic to your family’s finances, health, and overall well-being.

One look at the skyrocketing costs of healthcare should make it obvious how vitally important it is for your family to have adequate medical coverage. One injury or illness could be a financial disaster, which is why medical bills account for over half of all bankruptcy cases filed in the United States. Even worse, a lack of adequate coverage may cause you to delay going to the doctor for checkups or small complaints, which could lead to more serious injury or illness. Your family’s health is too large a price to pay to save a few dollars in premiums!

Medical coverage is available through a number of different providers. Some of the larger companies include Blue Cross Blue Shield, Cigna, and Aetna.

Most people have at least a minimum amount of auto coverage since, in most states, it is required by law. However, you may not have considered the financial impact of driving uninsured. First, if you still owe money on your vehicle and you total it, you will still be expected to pay off the loan. If you are uninsured or even if you have inadequate coverage, this could put you in a tough spot, especially if you need a new car as well.

If you cause an accident and damage or harm to another driver, you could be in even worse shape. Without coverage, you could be sued and/or held personally responsible and left owing a large amount of money.

You can always obtain auto coverage from any of the major providers, such as Geico, Progressive, USAA (if eligible), State Farm, or Travelers. Be sure to check for online cheap insurance quotes, but keep in mind your coverage needs and don’t focus solely on the premium prices.

And finally, you should also be sure to insure your home and important possessions from theft, damage, and natural disasters. If you are a homeowner, this should be fairly obvious. However, even as a renter, you need to seriously consider purchasing renters insurance. Just imagine for a second that you are the victim of a flood or fire, and all of your possessions are destroyed. How would you possibly be able to replace everything you need, from clothes to furniture to household items, in such a short amount of time? Unless you are wealthy or have a lot saved away, you will be unable to without homeowners or renters coverage.


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