If you’re a millennial, you’re likely working at your first real job, dealing with student loans, and facing the realities of adult life. One adult reality is the need for different types of insurance. Two that you should particularly focus on are car and life insurance. Here are a few insurance tips for millennials to keep in mind to save money and obtain proper protection.
Be Sure to Price Shop
Massachusetts is a competitive insurance state. This means that insurance companies set their own prices and discounts. To get the best prices and options, you’ll want to shop around. Be sure to ask about different discounts available through each insurance company as it may save you a lot of money.
Use Independent Insurance Agents
To save you time when shopping for prices, consider using an independent insurance agent. They work with many different insurance providers and can do the price comparisons for you. They may also offer some great ways for you to save additional money, such as combining your policy with renter’s or homeowner’s insurance.
Buy Life Insurance
We all tend to think about life insurance as something that only old people need. In reality, everyone needs it. Plus, if you purchase a policy at a young age, it will cost very little compared to purchasing it later in life. Life insurance can help cover debts such as your student loans and credit cards. Millennials tend to have quite a bit of each of those! Should something happen to you, life insurance can lessen the burden on your family when it comes to end of life expenses and debts.
Summary of Insurance Tips for Millennials
There are many more insurance tips for millennials, depending on your profession and personal finances. For instance, you may want to consider a disability insurance or an umbrella policy. Independent Insurance agents, like Eagle Trust Insurance, can help you identify what you need and how much it will cost. You may be surprised how affordable some insurance policies may be! Give us a call today to learn more.