When should you get Life Insurance

Many individuals assume that life insurance is unnecessary until they have a family of their own. But this is not always the case, as life insurance is not a one-size-fits-all type of insurance. You might find that buying life insurance at an earlier age than previously expected is a better option for your circumstances.  So what exactly determines one’s need for life insurance?

Life insurance, in its most basic form, is designed to pay benefits to your dependents in the tragic event of your death. These benefits are most commonly used as a form of wage replacement to allow the surviving spouse and/or children to maintain the lifestyle that they’re accustomed to living. But these benefits can also be used to pay for funeral expenses, medical expenses and erase debts from mortgages, car loans, student loans and credit cards. The benefits can also be designated to pay for a child’s college education.

So at what age should you consider buying life insurance? Use the above circumstances as a guide. If you have a spouse and/or children, life insurance can provide them with financial security during the hardest time they may face. This is especially true if you’re the primary or sole wage earner in the household. If you’re single but you have a lot of debt, life insurance can lift the financial burden off of your family. If you take care of elderly parents or disabled family members, life insurance can secure their continued care after you’re gone.

If you fall into one of these categories, than life insurance is a consideration that shouldn’t be taken lightly. However, if you’re single without dependents and without debt that exceeds your savings, then you probably don’t need to purchase life insurance yet—and you’re also quite lucky! Remember, life insurance protects those you love, giving you peace of mind in return. You only need to buy it if you’re in the position to provide financial care to your loved ones, at whatever age that occurs.

Protect your loved ones when they need it most. Call Gardiner Allen DeRoberts Insurance, Inc. at (614) 221-1500 for more information on Columbus life insurance.

Insurance Changes for Your Car Each Season

Whether you have a camper that you only use in the summer months or a car that’s never used in winter, it’s important to understand the different insurance coverage options that are available. Unfortunately, many car owners find out the hard way that taking all of their insurance coverage off of their vehicles isn’t the best idea over the winter.

How Different Auto Coverage Works

The most commonly associated coverage with automobiles is called liability. This covers bodily injury and property damage and may be referred to as BIPD. This is usually broken down into specific limits and may appear on your policy or cards as: $12,500/$25,000/$7,500. This coverage covers other people and their property, not you or your vehicle. Comprehensive coverage provides indemnity on an “other than collision” basis; for example, if you hit a deer or something collapses on top of the vehicle. Collision coverage indemnifies you if you hit something, such as another vehicle.

What Coverage to Leave On Your Seasonal Vehicle

If you are going to leave your seasonal vehicle in storage over the winter, you won’t need to carry liability or collision coverage until you take it back out again. However, you should consider leaving comprehensive coverage on that vehicle. For example, let’s say you have it stored in your garage and a heavy snowstorm causes the roof to collapse. If you have comprehensive coverage still on your vehicle, it would be covered in this event. If you don’t, you’ll end up having to fix your vehicle out of your own pocket.
Leaving just comprehensive coverage on your vehicle is very inexpensive and well worth the peace of mind you’ll get knowing that your vehicle will be protected.

When to Contact Your Insurance Agent

If you plan to move your vehicle or take it out when the weather turns nice, it is imperative to give your insurance agent a call. They will be able to reinstate any coverage that you removed to ensure that you have the coverage you need. Even if you’re only going to use the vehicle for a few days, it is still necessary to turn your coverage back on. Failing to do so can result in either a ticket or a fine if you are pulled over, or you may risk damage to your vehicle that will not be covered. Once you’ve returned the vehicle to storage, you can remove the excess coverage until you need it again.
Want to ensure that your seasonal vehicles are properly protected? Give us a call today at (866) 846-4488 to learn more about your Columbia auto insurance options.