From deductibles to special coverage options, the world of insurance can seem confusing when you’re still learning. If you’re a first-time insurance buyer, read on for 6 insurance tips specifically for millennials.
When you’re picking out your first car, automobile insurance may not be one of the first things on your mind – but it should be! Most states require some amount of auto insurance coverage, but certain vehicles, like luxury cars, sports cars, and even used cars, can cost more to insure. Look for cars that are safe and won’t cost extra to protect.
If you are using your car to transport others or provide delivery service, you will want to check with your insurance agent to make sure you have the proper coverage.
If you rent a home or apartment, it’s important to remember that your landlord is not responsible for your possessions. If you want coverage for your personal property and guests, you will need renters insurance coverage. Keep in mind that many landlords and apartment complexes require tenants to carry renters insurance. Check out this renters insurance guide for more helpful information.
If you’re looking to save money on your insurance coverage, bundling your policies is a great place to start. Talk to your agent or insurance provider about any available discounts for purchasing multiple policies, like renters and auto insurance, together.
A standard renters or car insurance policy is a great place to start, but does it provide enough coverage for you? Make sure to keep an eye out for gaps in your coverage. If you work from home, you will likely need additional coverage.
If you’re a first-time insurance buyer, you will likely have a few questions that may not be covered here. For a little bit of extra help, consider purchasing your insurance through a local independent agent. Since independent agents work with many different insurance providers, they can offer you objective advice. As an added bonus, independent agents are located in your town, so they can answer your questions in a way that online insurance companies may not be able to.
Want more insurance tips? Check out our blog which features helpful articles on a variety of subjects from insurance for college students to insurance considerations for home and ride-sharing services like Uber and Airbnb.
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