Plan for Life Events:
First Car/New Driver | First Apartment | Off to College | Starting Your Career | First Home | Marriage | Starting or Merging a Family
Starting or Merging a Family
Renters/Condo/Homeowners Insurance
Remember to update limits as necessary especially if you are merging families together. This is not as big a concern for new families. Also be sure you review your situation if any children are entering or currently in college.
Car Insurance
New Family
Look over your No Fault and Under/Uninsured Motorist limits. These coverages pay you and occupants of your vehicle. A new family member increases the exposure for increased medical costs as a result of an accident.
Merging Family
Check to be sure all resident drivers are listed on your policy. Review all your limits to reflect the increase in exposure. Defensive driving courses can really make a difference in your premium if all drivers have completed a course within the last three years.
Life Insurance
Be sure to update beneficiary elections on all existing policies even insurance provided by your employer. Now is also the time to evaluate death benefit amounts to reflect a change in situation. More dependents often means more benefit required to maintain your survivors standard of living. It may be time to cancel an existing policy, roll over any value built up in one policy to another or take out some Term coverage for your increased exposure.
Disability Insurance
Now there is more pressure on your paycheck than ever. Disability coverage is available to all NY employees through your employer but it is short term coverage and has a maximum benefit of $170 per week. Individual disability polices offer more comprehensive protection so call us to explore your options.