Some insurance is mandatory and some insurance is just a good idea. Protecting your assets creates a solid foundation for any personal financial plan. So, what insurance should you invest in? A Paramus insurance agency can help you determine what specific plans fit your lifestyle. There are a couple of policies everyone should consider.
Medical costs are skyrocketing. Even a routine visit to the doctor can result in a substantial bill. A more serious injury could put you on the type of debt that takes a lifetime to repay. Although the cost of health insurance can pose a financial burden, it pales in comparison to the alternative.
State law requires some level of automobile insurance in most places. Even if you are not required to have it, it is something worth investing in. You could face a lawsuit if you are in an accident where someone is injured or their property is damaged. Defending yourself alone can cost a ton. Accidents often end with tragic results. Make sure you are covered beyond the minimum required coverage.
Many times, a person’s most valuable asset is their home. Look for a policy that replaces the structure and the contents and the cost of living somewhere else during repairs. This may seem overkill. It is not.
Insurance sometimes feels like a gamble, especially when everything is going well. A Paramus insurance agency can help you realize the benefits of such an investment should things happen to go wrong.