The Best Time to Get Life Insurance

You probably heard a thing or two about life insurance in your younger days, but you didn’t care to get many details. But in your adulthood, you are starting to think more about life insurance. Most likely, the question on your mind is – when is the best time to buy life insurance?

Life insurance experts at Preferred Insurance Center in Coldwater, OH, recommend you buy life insurance when you’re in the following phases of life.

Planning to Start a Family or Expecting a Child

The general rule of thumb is that you need life insurance when you have dependents who would be ruined financially if you died or lost your income. Therefore, you should buy life insurance when you’re planning to get children, already have children, or you’re expecting a newborn. 

You’re Married or Have a Dependent Spouse

After or before getting married, it’s advisable to buy life insurance. In case one of you is deceased, life insurance ensures that the surviving spouse will remain financially stable. Also, if your husband or wife depends on your income, buying life insurance should be a top priority.

When Planning For Retirement

As you approach retirement age, you may still have dependents. For instance, you may be caring for your grandchildren or an ailing spouse. If you had not bought life insurance earlier in your 20’s or 30’s, or you relied on your employer’s coverage, you should consider getting one between age 40 and 60.

Also, if you retire in debt, getting life insurance is a good idea as it will protect your estate and dependents if you pass on without clearing the debts.

Let Insurance Professionals Help You

Life insurance experts at Preferred Insurance Center in Coldwater, OH, will have you covered when you decide to buy life insurance. Call Preferred Insurance Center today, and speak to a life insurance specialist.

What does auto insurance cover?

Auto insurance provides several different kinds of coverage. It offers a variety of coverage and you are able to customize your policy so that it fits your particular needs. Some types of coverage may be required by the laws in your state and if you have an auto loan or a lease, you will be required to carry additional coverage. At Preferred Insurance Center in Coldwater, OH we believe in making sure that our customers get the right insurance product while having a positive experience. 

Liability coverage

Liability coverage is what is mandated by the state of Ohio for all drivers who take to the roads in the state. The required amount is 25/50/25. For the first person injured by you in an accident you cause, they are allowed $25,000 in bodily injury coverage with a total for an entire accident of $50,000. Another $25,000 is allowed for property damage, which includes other vehicles and property. 

Collision

Collision insurance is the part of your auto insurance that covers the damage to your vehicle in the event you are the at-fault driver. It helps pay for repairs or replacement depending on the amount of damage. If you have a loan or are leasing a vehicle, this will be the coverage you are required to carry. 

Comprehensive

Comprehensive insurance is also coverage for your vehicle. It protects you from things that are beyond your control. It is also required by your lender or leaseholder. It includes theft, vandalism, weather damage, and other things that can damage your vehicle. 

Roadside assistance

You can choose to include roadside assistance coverage, which is very affordable and lets you feel secure knowing you can get towed or get help if you break down. 

Contact Preferred Insurance Center in Coldwater, OH  for all your auto insurance needs. 

Home businesses and commercial insurance: Why you need it

Having a home business makes a lot of sense. You don’t need to rent or own office or business space, you already have space. That is very cost-effective. While you are economizing you may think you can get away with the insurance you already have to cover your business as well. That is not the best idea; you may find the coverage is inadequate or nonexistent. In Coldwater, OH, Preferred Insurance Center has the information you need to make the correct decisions about your home/business insurance coverage. 

Your home insurance is designed to protect your home; it is not designed for business protection. While the area of your home that houses your business may come under the property coverage, your business property like office equipment and supplies, raw materials, and any inventory or raw materials may not be covered. You need to talk to your carrier and inform them that you are running a business out of your home. 

If your business owns a vehicle, it should be covered by a commercial auto policy. Keeping your personal and business lives separate is a very good idea. You should talk to your carrier; many will not cover the business use of a personal vehicle. This could leave you holding the bag in the event of an accident while you are on business.  

Liability insurance for your business is imperative. If someone is injured while visiting your home on business, your home insurance may refuse to pay. Liability will also protect you from legal actions having to do with the services you provide. 

If you employ even one person, in Ohio you are required to have worker’s compensation insurance or be granted the right to self-insure. 

Preferred Insurance Center in Coldwater, OH is here for you when you are ready to discuss your home business insurance needs. 

How Does Home Insurance Protect Someone?

Owning a home is something you probably admire but keeping it shielded against unpredicted perils is an issue you should not negotiate about. Many things can happen to your home — for instance, fire accidents, hail, and storms can leave you homeless. But with Preferred Insurance Center home policy in Coldwater, OH, you have nothing to stress about. 

If you are wondering whether you need a home insurance policy, consider the following:

Home insurance protects more than your building 

Your home insurance policy doesn’t only cover the physical building but its contents as well. If your home content gets damaged due to disasters such as fire or vandalism, your insurer will step in and cover the loss. 

Covers personal liability

Other than covering your home and its contents, your home insurance policy covers you in cases where a person gets injured while at your property. Besides, home insurance protects you against property damage you cause to others. 

Home insurance covers relocations

If at one point or the other you decide to reconstruct your home, you will want to look for a new place to stay for the duration. And as you know, relocations will add to your costs, and the need can arise when facing financial constraints. 

Obtaining a home insurance policy will give you peace of mind when such a need arises. 

Your lender may require it

Whereas the law does not require homeowners to carry home insurance, your lender may require you to have a home insurance policy when seeking their services. Without home insurance coverage, such lenders will consider your home a risky environment to invest in!

Buy home insurance today!

Now that you know the benefits you will enjoy by purchasing home insurance, why are you waiting until you suffer losses? We at Preferred Insurance Center home policy in Coldwater, OH are ready to insure your home and give you peace of mind anytime you come to us. Wait no more!