Take The Right Insurance Steps
Many people have inadequate insurance protection because they don’t know where to begin. Don’t be frightened. Here are some easy ways to get started:
* Figure out what your risks are. Do you have adequate life insurance? Have construction costs doubled since you last reviewed your homeowner’s policy?
* Prioritize the list. Once you have figured out where your exposures to risk are, put them in order by doing some research. You are more likely to get sick during your working years than you are to die during the same period, so take care of that first.
* Always get more than one expert opinion. Everyone who has an opinion projects the biases of their background in their words. I don’t care if it’s your father, your insurance agent of 15 years, or me. Make sure that the advice really rings true to you and makes sense in your situation. Talking with at least two experts in the field will get an informed opinion from at least two perspectives.
* Use some common sense. If it costs too much to insure your Mustang, maybe it’s time to sell your baby. If you have a cash surplus of $10k, maybe you should increase the deductible on your health insurance to reduce premiums.
Via: Get Rich Slowly.
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