My Family

Home and Auto Insurance Policy Basics

Summer is a busy time when people are on the move. But even if you aren’t getting a new address, it’s the perfect time to review home and auto insurance basics to make sure you have the right insurance coverage for you.  Before you get started, it’s helpful to understand home and auto insurance basics. We’ve outlined them for you below so you will be in-the-know when you talk to your SelectQuote licensed agent.  Auto Insurance Comprehensive Coverage Sometimes accidents happen. Maybe it’s a natural disaster, such as a flood, tornado or earthquake. Or maybe your car was damaged while parked at the store, stolen or vandalized. Whenever damage occurs, such as non-impact physical damage, theft and unoccupied accidents, comprehensive coverage covers your loss Liability Coverage Liability only is when a policy only includes coverage for bodily injury liability and property damage liability. It protects the people in the other car…

How to Select The Right Amount of Life Insurance for You

Terry’s life insurance cost $9.95 a month. Sounds like a good deal, right? The cost of a couple cups of coffee a month can fit into most people’s budget. That may work for Terry, but it doesn’t really answer the question, “how much life insurance do I need?” or “How much is the right amount of life insurance?” A number of factors go into estimating your coverage needs. If you already know your financials fairly well, try our life insurance calculator. It will give you a quick sense of what you’ll need to consider for coverage. Plus, it offers three financial planning scenarios for what you could leave your beneficiaries. Otherwise, let’s review common considerations that go into deciding how much to purchase. Does Your Employer Offer Life Insurance Coverage? If your employer offers life insurance coverage, it can be a cost-effective way to supplement your needs. Large employers negotiate…

How Much House Can I Really Afford?

Turn one calendar page and it’s spring – prime time for the housing market to open exciting new doors after a long winter lock-down. But before you contact your real estate agent, stop and ask yourself “how much house can I afford?” Dreaming of luxury kitchen appliances, soaring ceilings, spacious walk-in closets, granite countertops, wood floors and a three-car garage means it’s time to house hunt. But before you contact a real estate agent, stop and ponder this question: How much house can you really afford? A little homework ahead of your house hunt will help you set realistic expectations, save you time and ultimately land you in the right place without making you “house poor.” Increasingly, financial advisors recommend using the 28/36 rule to help determine how much house you can comfortably afford. Ramit Sethi, in his bestselling book, “I Will Teach You to be Rich,” spells out how…

Your Kid’s at College – Do You Keep Insuring the Car?

Should you keep your college student on your car insurance policy or have them take out their own car insurance policy when they go away to school? There’s not one right answer. For college students, car insurance premiums can vary widely due to factors such as vehicle type and age, the miles the student drives each year, where the vehicle is garaged, the grades he or she gets in school and driving record. All of which raises the question, are there reasons to keep my college student on my car insurance policy? Or is is better to have them take out their own policy? What if they don’t even take the vehicle they drove through high school to college? As you might expect, there is no single answer. But there are some basic guidelines for making the right decision. Reasons to Keep Your College Student on Your Car Insurance Policy…

Umbrella Insurance: When You Need Extra Protection

Just like an umbrella protects you from rain, an umbrella insurance policy is extra coverage if you’re at risk for being sued for damages to other people’s property or injuries caused to others in an accident. An umbrella policy also protects against libel, vandalism, slander and invasion of property. This kind of coverage is beneficial if you’re sued and the settlement amount of your base auto or homeowner policy is exhausted. An umbrella policy can literally protect you from financial ruin in the worst case scenario. Although not for everyone, an umbrella policy, often called “excess liability insurance,” is recommended for people who own a lot of assets, or own some very expensive assets, and are at significant risk of being sued. People who can possibly benefit from an umbrella policy are those who own property, have significant savings, or own property that can cause injury – pool, motorcycle or…

Best Family-Friendly Spring Break Destinations on a Budget

It’s time to dust off your luggage and pack up the family for a spring break getaway. Luckily, making great memories doesn’t need to break the bank. We’ve hunted down six of the best family-friendly spring break destinations to visit on a budget. We focused on locations boasting: availability of flights high-value lodging, and plenty of inexpensive family activities. Here are our top six picks for the best family-friendly spring break destinations to visit on a budget. Phoenix, Arizona Phoenix, Arizona checks all the boxes of a great family-friendly spring break destination. Warm weather and outdoor activities, including plenty of free hiking, will help the kids run off some energy. For a little education mixed into the fun, visit The Phoenix Zoo and the Desert Botanical Gardens. Or, simply hang out poolside and relax. Phoenix has several family-friendly hotel chains across the valley. Or rent a condo or house and…

Four Steps to Make the Most of Open Enrollment

We’re headed into one of the busiest times of the year. Between buying the Thanksgiving turkey and shopping for holiday gifts, you’ll find selecting your employee benefits on your to-do list. It might be tempting to let your benefits plan from last year roll over into 2019. However, experts advise against the set-it-and-forever-forget-it model. Open enrollment is your golden opportunity to sign up for your 2019 benefits. Take time to review your current benefits plan and ensure you’re taking full advantage of what’s offered. Here are four steps to help you make the most of open enrollment. Step One: Outline Your Needs Consider a ringed approach to outlining the expenses you’ll incur during 2019. In the center, place expenses you know you’ll have. For example, do you live with a chronic condition, like diabetes? Include the cost of your insulin, test strips and other supplies for the year in this…

4 Reasons to Choose Term Life Insurance

Term life insurance offers one of the simplest ways to protect your loved ones in the event of your passing. It can also provide peace of mind. Mortality cuts well beyond six feet and leaves a trail of expenses and heartache in its wake. Knowing life is short, and may be taken away at any moment, it reinforces the desire to care for loved ones. Term life insurance pays out a guaranteed benefit when you die during a specified period of time. Say, for example, you buy a 30-year term life insurance policy and die before the 30-year timeframe ends, your family will receive a death benefit to help with financial costs. This helps your beneficiaries pay for expenses previously covered by your income. Two general types of life insurance — term life insurance and permanent life insurance — exist. Term life policies provide an attractive life insurance option for several…

Life Insurance: A Long History of Helping in Times of Need

Life insurance. It is a concept that virtually everyone is familiar with, and more and more people are selecting either whole or term life insurance. But how did life insurance come to be? The roots of life insurance stretch back in time. Here is a look at the history of life insurance, as well as some other facts that might surprise you. Ancient Roots of Insurance Life insurance got its start in the 17th and 18th centuries. However, the roots of life insurance run much deeper. So deep, in fact, they can be traced to Ancient Rome. Romans created burial societies, which were essentially clubs that ensured members would be able to have a proper burial. Geared toward the less affluent members of society, these burial clubs collected weekly dues from each member. The dues were pooled to cover the burial costs of the deceased. Some societies went so far…

How Much Car Insurance Is Enough?

Accidents happen. In the blink of an eye. In a left-hand turn. Life can throw you a curveball. That’s what happened to Maggie. It was a few days before Thanksgiving. Her daughter was home from college. The two were out having a great morning catching up. Then, as Maggie turned out of a shopping center, her SUV hit an oncoming minivan and flipped it onto its side. The accident happened so fast. Maggie and her daughter are still unclear how it happened. Luckily, no serious injuries occurred. However, the passengers in the other vehicle sued for musculoskeletal and emotional damages. Years of court hearings followed. Thankfully, Margaret had adequate car insurance. Her provider took care of all the legal proceedings and settlements. Insurance also covered the damages sustained to her SUV. Margaret’s story goes to show that accidents happen when you least expect them. They can happen to anyone. Without…

Navigate