Life Insurance | Boizelle Insurance Partnership - Page 3
New Year’s Resolutions for 2020
As each new year begins, all of us take some time to reflect. We reflect on our goals, our accomplishments, and how our lives have changed. Perhaps you had a goal to go the gym three times a week. Or maybe, you told yourself you were going to travel more. Whatever the case may be, we all have different goals, different needs, and it’s up to us as individuals to have the discipline and tenacity to stay focused on what we need to do to make our lives better for ourselves and our families.
All of us may have resolutions that we set for ourselves as individuals, but how much thought have you given to creating a better life for your loved ones? Let’s talk about how paying attention to your insurance needs can make your life a whole lot easier and more enjoyable, so that you can live each day with the peace of mind you deserve.
- Take an Inventory – This can seem like a grueling, overwhelming task, but if you organize your thoughts and plan a step-by-step course of action, you may find this process to be therapeutic and, maybe, even fun. Inventories can serve more than one purpose, too. In addition to finding out the value of your possessions like jewelry, an inventory can help you in the case of a disaster that brings on an expensive claim. Knowing the value of your possessions can help you avoid getting the short end of the stick when it comes to reimbursement for your belongings. Also, it’s important to understand that most insurance policies have limits on how much they will pay out for jewelry. Our experienced agents are here to help you!
- Stock Your Car – Don’t forget to put an emergency kit in each one of your vehicles. Good emergency kits will include jumper cables, flares, emergency blankets, a first-aid kit, and other items. Non-perishable snacks like nuts or trail mix are good to keep in your car in case you’re ever left stranded.
- Update Your Life Insurance – Have you made any additions to your family? Perhaps you’ve stopped smoking or your commitment and consistency with going to the gym has made you lose weight. It’s time to update your life insurance policy.
- Make sure you have sufficient limits of liability for your auto policy – If you’re ever involved in an at-fault accident, it’s possible that your current coverages are not adequate enough to cover costs of property damage or possible injuries that either you or other parties sustained. Call us to discuss your limits of liability for your auto insurance.
- Obtain an umbrella policy – If you’re involved in an auto collision and your policy limits are not enough to cover damages, an umbrella policy can kick in to cover the remaining costs. Call us to find out how an umbrella policy can benefit you!
- Decrease your distractions – We know this can be a broad one, but to keep things simple for you, we’re referring to kitchen safety here. It’s important to remain focused when you’re in the kitchen cooking. Hazards are everywhere. Everything from sharp knives to boiling water to having your oven on, try not to take your attention away from the task at hand. Forgetting that your oven is on can not only burn your dinner, but it presents a possible fire hazard that could result in a costly claim.
- Put your phone down while you’re behind the wheel – As we kick off the new “roaring 20’s”, let’s remember that all of us have hopes and dreams and goals we want to accomplish. Let’s all give ourselves and each other the opportunity to pursue those aspirations by getting home safely.
How Insurance Can Protect You Through the Years
They say that the only constant in life is change. And that’s true whether you’re 18, 80 or somewhere in between.
One thing to consider when life changes is your insurance coverage. Here are six common transitions that your Erie Insurance agent can help you navigate.
You’re off to college.
With Erie Insurance, full-time students younger than 24 are automatically covered under their parents’ homeowners policy. Part-time students (or students who are 24 and older) may need to take out a renters insurance policy. If you choose to live in an apartment instead of a dorm, think about purchasing a separate renters insurance policy. (Learn more about renters insurance below.) When it comes to car insurance, you don't need your own policy if you’re taking a family member’s car to school. If you’re a co-owner on the vehicle or if you own your own car, you probably need your own policy.
You’re renting your first place.
You found the perfect place, but since your landlord’s policy doesn't typically cover your stuff, you’ll want to look into getting your own renters policy. In addition to protecting your belongings, a renters policy also provides worldwide liability protection for a situation like harming someone while riding your bike. If someone is hurt in your apartment, your policy most likely would pay his or her medical bills. A renters policy will often cover additional living expenses if your apartment is damaged and you can't stay there because of something like a fire. There are many affordable options—plus, you can qualify for a discount if you purchase both a renters and an auto policy from ERIE. In some cases, the discount can pay for pay for most (or all!) of the renters policy.*
You just got married.
If you’re just starting out, you'll definitely want to look into life insurance. Life insurance can be the most affordable way to help ensure that you or your new spouse is able to carry on if the unthinkable were to happen. Also remember to ask about your auto insurance. You could qualify for discounts, including a multi-car discount if both cars are insured by ERIE. Finally, you may need extra coverage on an engagement or wedding ring. With an Erie Insurance homeowners or renters policy, your coverage for lost or stolen jewelry is capped at $3,000. So if your ring is worth more, you'll want to consider separate coverage.
You welcomed a bundle of joy.
You may have binkies, diapers and formula on your mind, but another thing to consider is life insurance protection for your family. Everyone needs financial protection—even a stay-at-home parent. With life insurance, you can provide for your loved ones even if…well, you're not there.
You retired and are renting a place somewhere warm for the winter.
No penalty for sand between the toes! If you're going south, an extra policy is not needed in the majority of cases. That said, a lot depends on the policy you already have, how long you’ll be gone and what kinds of things you’ll be taking to your temporary home. For these reasons, it’s a good idea to check in with your agent before you head south.
You or a loved one is entering an assisted living facility.
When it's time for help with care, it’s a good idea to consider a renters policy if you or a loved one is entering an assisted living facility. A renters policy covers belongings—and, more important, personal liability. For instance, renters insurance could cover your loved one if he or she was responsible for injuring someone.
Many people can't afford to pay big medical bills out of pocket, so definitely contact your Boizelle Insurance before making the move. Life may change, but one thing that doesn’t is being able to rely on us. You can always turn to us when it comes to making sure you’re protected at every stage of life.
*Individual policies may differ.
Originally by: Amanda Prischak, Erie Insurance
Read more4 Reasons Why You’ll Want to Work With One Insurance Company
There are lots of ways to get insurance coverage these days, but working with one insurance agent and company for your business, home, auto, and life insurance has a lot of advantages. Here are four:
- Fewer worries – You’ve worked hard to build a solid financial foundation, so you’ll want to be sure everything is protected at work and home. Insurance can help protect your life, income, business and help keep a roof over your head.
- Saves time - Working with one company saves time and eliminates hassle because you won’t have to keep track of contracts at multiple companies.
- Helps prevent a gap and overlap – Just one coverage gap could put you, your family or your business at financial risk. Working with an insurance agent, you could reduce coverage gaps and avoid overlaps.
- Saves money – Get coverage for your business and personal life without having to choose between great protection and saving money. When you buy multiple insurance policies with one company, discounts are typically available. For instance, with Erie Insurance, a discount is available if you have a qualifying life or home policy in addition to your auto policy.1
The Licensed insurance agents at Boizelle Insurance have a lot of experience helping people with their insurance needs. We’ll explain what types of coverage are available, answer your questions and can help make sure you have the right coverage at the right price. To get started, contact Boizelle Insurance today.
1ERIE® life insurance products and services are provided by Erie Family Life Insurance Company, a member of Erie Insurance Group, and are not available in New York. See individual policies for specific coverage details. Certain terms and limitations may apply. Refer to our disclaimer for additional information.
Originally by: Carolyn Sennett, Erie Insurance
Read moreUse Just a Tiny Percent of What You Already Spend to Protect Your Kids
Do you know how much it takes to raise a child these days? Are you sitting down?
That would be almost a quarter of a million dollars.
It costs $245,000 to raise a child born in 2013 until they hit 18, according to the U.S. Dept. of Agriculture.
This is not about a luxury upbringing. This is no Kardashian-esque baby outfitted in cashmere onesies. This is not about a privileged college education, because these numbers do not include the cost of college. That’s extra. Add on about $18,000 a year for public and $41,000 a year for private college.
This number—$245,000—is a place to live, food, clothes, health care…the basics.
You’re here to take care of these expenses now. But what happens if something were to happen to you? If an average middle-income family is spending around $13,000 a year on their child, that money would have to come from somewhere.
That’s where life insurance comes in. If you take between one and two percent of what you already spend on your child each year—or about $200—it could pay the yearly premium for $250,000 in term life insurance coverage. If something happens to you, your child would be okay financially.
We’ve used a healthy 30-year-old dad or mom (who doesn’t smoke!) who gets a 20-year level term policy for the above example. Age and health will vary the amount of your premium—as your age increases or health decreases, the price goes up.
But the truth is, setting aside one to two percent of what you’re already spending on your child is a small price to pay to protect them. There’s no reason to wait. To help you figure out how much life insurance you might need, contact Boizelle Insurance. We can help you decide the amount and type of protection is right for you, and how affordable life insurance can be to protect the ones you love most.
By: Erie Insurance
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