Many people purchase life insurance policies for their children. A juvenile life insurance policy can be purchased for any child under the age of 18. As a parent myself, I realize how difficult it is to think about the death of child but what most people do not realize is that there are many financial benefits to such a policy beyond the coverage of funeral expenses. Life Insurance is not only a valuable gift to give your children, it will help teach them financial responsibility.
The following are some examples:
We have several great options for juvenile policies. Call us today to discuss.
During the teen years, one of the biggest rights of passage is obtaining a drivers license. While this is a highly anticipated milestone for our teenagers, it's usually a milestone most parents dread. Teen driving opens a whole new door to when it comes to insurance. These inexperienced operators pose a higher risk while driving, not only do the worry lines reflect this, but also your insurance rates.
Here are the facts: Driving is dangerous in general, even more so for teenage drivers. The CDC reports that over 200,000 16-19 year olds were treated for accident related injuries and over 2,000 were killed in motor vehicle accidents in 2014. In 2013, 15-19 year olds made up roughly 7% of the US Population but caused 11% of the total costs of motor vehicle injuries (that's approximately $10 billion).
This seems like a startling data. It may even have you rethinking you decision to let your teen obtain their license at 17. There is hope. There are ways you can help your teen driver not be a statistic! The following are things your teen driver (and the rest of us) should avoid
One of the top ways to help keep your teen driver safe on the road is to Lead by Example. Show your teen what it means to be a good driver by avoiding road rage, avoiding distractions, and being a courteous driver.
If it's time to add a teen driver to your policy, give us a call. We can go through all the details with your further. There are several ways to help offset the additional cost of a teen driver. We offer a Smart Student Discount just for teen drivers. To qualify, your teen driver must have one of the following:
Our homes do more than satisfy our basic need for shelter. Homes give us comfort and provide a sense of security. Since that’s the case, it’s important to protect our homes fully. And while security systems do a great job keeping us safe, home insurance gives us a peace of mind.
Home insurance is important for a mortgage. No lender will loan you money if you don’t insure the home. Although that is a requirement, having home insurance is a wise idea even if you’ve paid off your mortgage. Why? Well, that’s because you’ll have a financial safety net from certain events.
So what does a standard home policy have to offer?
Coverage for the Structure of your Home
A standard home insurance policy pays for the reconstruction or repair of your home in case it is destroyed by the following:
However, you are not covered for damages caused by routine wear and tear, flood, or earthquake. Bear in mind that when you get coverage for your home, you should buy enough so that you can rebuild your home from scratch.
Many standard home policies may also cover detached structures from your home (e.g. gazebo or garage). In general, these structures have 10% coverage of the amount of insurance you have on the structure of your home. But if you need more than that, you may talk to your agent for additional coverage.
Coverage for your Personal Belongings
Most insurers provide coverage for about 50 to 70 percent of the amount of insurance you have for the structure of your home. Thus, for every $100,000 worth of insurance on home structure, you’ll have $50,000 to $70,000 worth of coverage for your personal belongings – and this includes off-premises coverage.
What is covered?
While expensive items (e.g. jewelry, furs, art collection, and silverware) are covered, there are usually limits if they are stolen.
Liability coverage protects you against lawsuits in case of bodily injury or damage to property that a household member causes to other people. It also includes coverage for damages caused by pets.
Unfortunately, this type of coverage has its limit. In general, it starts at approximately $100,000. But experts suggest that you get at least $300,000 worth of insurance.
Coverage for Additional Living Expenses
This coverage would pay for the additional costs incurred when you live away from home when it is being fixed. It provides coverage for hotel bills, restaurant meals, and other expenses incurred while your home is undergoing reconstruction.
A family needs an intact home. What better way to ensure that than to get home insurance. Insurance Strategies – The Cooksey Agency is an independent agency that will provide you with the best insurance options out there. We offer home insurance products that will help protect your home for a reasonable price.
Welcome to our new insurance agency blog!
This is our very first post. We're not quite sure what we're going to write about here, but the plan is to create helpful content for customers and prospective clients about information that is relevant to you.
We hope you'll come to view this as a top resource for keeping your family and your finances safe.
Here are a few of the topics we may be writing about: