When determining what types of insurance you need, it helps immensely to have someone who knows how to determine the right coverage, deductibles, and policy types that will be beneficial and affordable to your needs and lifestyle.
There are many types of insurance you may need to consider, but the three primary types of policies that protect your assets and your financial future are car, home, and life.
In most states there is a minimum amount of car insurance that is required. This is certainly the case in Arizona. There are set standards for property damage liability as well as personal injury liability coverage. These protect you if you are found at fault in an accident and damage property or injure someone. However, the minimum required by the State are usually not enough to cover the total assessed damages. So, it is important to know what you need in automobile insurance coverage.
Home insurance covers your house and most of your belongings inside the house. This type of policy covers against things like burglary, fire, storm damage, vandalism, etc. There are some items such as jewelry that you may need extra coverage to safeguard them. And there are some things like floods and earthquakes that require their own special policies. It is important to update these regularly depending on the value change of your property. Having your own personal agent facilitates in keeping your home insurance up to date.
Financial protection for your family can be provided by a life insurance policy in the case of an accident or illness that causes death. Some policies can be used as investment vehicles for retirement as well. There are many types of insurance, so it is best to talk to your representative about what coverage fits your lifestyle best at this time. It is critical to keep this up to date as you hit different milestones in your life such as marriage, kids, retirement, new job, etc.