Insurance is one of those things that you don’t really think about until you truly need it. That can be a costly mistake. Insurance provides essential coverage at a time when you need it most, but it requires forethought. You don’t want to go without proper coverage. Here are 3 must-have Massachusetts insurance options that you shouldn’t live without.
1. Life Insurance
No matter what your age, you should have some type of life insurance policy. Most think of life insurance as something you buy when you’re older, but the truth is, the best time to buy it is when you are young. The younger you are, the less it will cost you. Purchasing a policy when you are young allows you to lock in rates for a certain period of time. Additionally, think about your student loans, credit card debt, and funeral expenses. Having life insurance eliminates financial burdens to your family for covering your debts and final expenses. A policy may be less expensive than you think.
2. Renter’s Insurance
If you lost everything in your apartment due to a fire, would that create any financial hardship? If so, then you should really have renter’s insurance. Renter’s insurance covers your personal belongings. It also provides some additional coverage, such as someone getting injured while in your apartment. Some landlords require renter’s insurance, but even if yours doesn’t, you should purchase a policy. The cost is minimal, especially when grouped with your auto insurance.
3. Umbrella Insurance
Your auto and renter’s insurance policies have limits. What happens when you are at fault for an incident and damages exceed that limit? You could be held personally liable for the difference. This is where an umbrella insurance policy becomes important. It can cover you when your other policies fall short. You can purchase a million dollars in coverage for just a few hundred dollars a year.
More on Must-Have Massachusetts Insurance Options
Contact your insurance agent for a free quote on any of the above must-have Massachusetts insurance options. Remember that combining policies will often save you money on premiums. Additionally, consider using an Independent Insurance Agent as they can provide quotes on policies from several different insurance providers, saving you time and money!