Do you remember playing the ‘Game of Life’ board game as a child in your living room? The goal of the board game was to collect points (and avoid losses) by reaching certain life milestones (such as going to college, purchasing a house, and having children) while steering clear of others (think: car accidents and break-ins).
While navigating the ups and downs in real life isn’t quite as simple as spinning a wheel and following a set path, throughout our lives, there are certain milestones that require us to think about protecting ourselves, family members, our assets.
From purchasing your first apartment (don’t forget your renter’s insurance) to the keys of your first vehicle (auto insurance), to the start of retirement (Medicare and long-term care insurance), the stops along the journey can vary or may happen at different times for different people, but the one thing that is consistent throughout is the need for protection.
Insurance isn’t just a way to shelter ourselves, family members, and assets from loss, but also finding the right independent insurance agency – Hertvik Insurance – can be a blanket of protection for everything in our lives.
Insurance is protection against life’s unknowns. With so many kinds of insurance coverage out there, when in life should you be thinking about which type? To make it easy, we’ve laid them out for you – from starting on your own to your kids getting their driver’s license.
Ready to start? Let’s get moving.
You are finally moving out of your parent’s home and have signed a lease on your own apartment – what is your first step? If you’re renting an apartment (or house), renter’s insurance should be your next priority.
Water damage, fire, or theft – these are all things that can happen to a renter. While your landlord has their own insurance to cover the structure of the building, it won’t cover any of your stuff inside that get damaged or stolen.
On the bright side, renters insurance is usually very inexpensive and is easy to get. Contact your Hertvik Insurance agent for a renters insurance quote.
Now that all your belongings are secure, it’s time to think about your car. If you’ve been on your parent’s car insurance, it is usually time to make the switch.
After your 20s, you may start to find some more stability as you enter your 30s. If you’ve found “the one” and are getting engaged or married, insurance for scheduled items or a jewelry rider is incredibly important. Learn more about Scheduled Personal Property.
You may also be considering buying your first home, in which homeowners insurance is a necessity. If you’ll be adding more to your family, a good life insurance policy can provide a blanket of protection for your new members.
As you enter your 40s, you may be looking into purchasing some investment properties or buying a second home. You’ll want to keep your new assets protected in the case of a claim by adding umbrella insurance. As you continue to grow in your career, you might be considering starting your own business. For that, you’ll need business insurance coverage. Business insurance is needed to protect yourself and your employees.
After a successful business or career, you may find yourself enjoying your free time by purchasing a new RV to travel in or your dream boat. But before you take that new RV out across the country, you’ll need to look into purchasing recreational vehicle insurance.
It’s time for celebration as you enter into your fifties – you’ve made it this far and retirement is on the horizon! Soon, it’ll be time to sit back, relax, and not worry about getting to work. But before you retire, you’ll want to think about long-term care coverage.
Now that your children are growing older, you’ll start to see some new milestones for them too. As they start to enter their teens and begin driving, you’ll want to confirm that you have umbrella insurance to ensure they are also protected. Don’t forget to include them in your insurance decision planning and share the knowledge you’ve gained over the years, as they begin to prepare for their own game of “life.”
Congratulations! You’re just retired! Now what – travel the world? Take the RV on a summer road trip with the grandkids? Before you start to tick off your bucket list items, make sure you’re signed up for Medicare – an essential medical coverage program for those 65+. You’ll also want to be well-versed in the different parts of the Medicare coverage program – especially Part D. Part D is coverage for all your prescriptions.
Understanding your different coverage options and what each one means is an important step. Talk to you Hertvik Insurance Agent – we’re here to guide you through the process!