« Today’s Horoscope: Universal Money Truth For Everyone | Home | The Price of Being Uninsured »
Insurance Overview: Conclusion
By Molly's Brother | August 22, 2006
This is the sixth–and final–post in my “Insurance Overview” series.
I’d like to conclude this series with a brief post filled with some important things to keep in mind. Look at your life and figure out what your insurance needs are right now and what they might be like over the course of the next twelve to sixteen months. Continually evaluate and re-evaluate your position in life. Things often change–families grow, people move–but all to often we forget to update our policies.
When thinking about insurance, you might want to keep the following questions in mind:
- Do I need it? You don’t want to be caught uninsured. (Remember my mantra.)
- How much of it do I need? But you don’t want to be under-insured, either.
- Where will I buy it?
Insurance can be an overwhelming and intimidating prospect–especially if you are an outsider like I am. But educate yourself and do your research. Don’t be taken by insurance companies that seem legit because they have an address and a website.
Once you’ve found a company, regardless of how well known it is, dig a little deeper to find out what other consumers think of it.
- Start with your state’s insurance commissioner.
- Use the web to find consumer-oriented sites (AMBest.com is a site devoted to providing information and analysis on insurance companies.)
- Spend your money wisely. Game show hosts and former late show sidekicks peddle important sounding insurance that ends up covering very little.
In conclusion, don’t avoid buying insurance because the prospect stresses you out or overwhelms you. The prospect of not having a house to live in or needing to replace a car or facing mounting hospital bills will be infinitely more stressful in the long run.
Topics: Insurance |