Cover Your Ass…ets!

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Filed under: Financial Planning

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Today I talked to Tina Caracciolo with Insurance AllStars, who offers a wealth of information about personal lines of insurance. It’s a timely topic as many homeowners are wondering about insurance protection with earthquakes and other natural disasters that have been impacting our beautiful state.

When you are looking for insurance, it isn’t just about finding the lowest possible premium. Too many people shop for insurance based on price alone, without considering other factors that impact coverage and more. You need to make sure you are covered against all the crazy things that can happen in life.

Have You Reviewed Your Insurance Coverage?

It’s crazy to see how many times people haven’t looked at their insurance in 6 or 7 years. As a result, they are underinsured. For example, the home might be underinsured by as much as $150,000… which means that if the home burns down today, then it wouldn’t be insured properly. It’s a scary thought, because your money is invested in your home!

Insurance is about protecting your lifestyle and protecting the things that matter. Don’t get too caught up by focusing only on the monthly premium you will pay. It is common for people to have narrow thinking about monthly cash flow that they don’t realize how much money they could be giving up by choosing the wrong insurance coverage.

Good Insurance Will Protect Your Family

While most people will never file an insurance claim for something catastrophic, you should never lose sight of the fact that you have insurance coverage for a specific reason. But if an emergency happens, that’s when you really pay the price if you don’t have good insurance.

We bring this up, because I’m sure there are many people in Death Valley that are looking at their insurance policies right now and realizing that their coverage won’t cut it for the damage that was done to their homes. Some of the general insurance plans don’t provide earthquake insurance, which means they can’t file a claim to cover the costs and necessary repair work.

If you have equity in your home, then you need earthquake insurance. Talk to Tina Caracciolo at 866-304-0555 or tena@insallstars.com to learn about your options. Insurance isn’t a “one size fits all,” service, which is why it is important to work with an experienced provider in the area.

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