Top 3 Insurance Tips for Millennials

How to Protect What Matters to You
 

Perhaps more than any other generation, you, Millennials, seek a life of adventure and experiences, and you’ve grown up with the technology that helps you pursue it. But, if there’s one area of your life where it’s wise to seek expert advice rather than going your own way, it’s insurance.

In fact, according to a recent study, as you and your peers shop for and select insurance, 31 percent of you want:

• An expert advocate to guide you.
• Ease in understanding your options.
• A choice of insurance carriers.

So, where do you start? With these three tips. They’ll help you get what you want out of your insurance so you can go after what you want in life.

1. Take stock of what you’ve got.
   First things first, you need to know how much insurance to buy. If you have $25,000 worth of stuff (it adds up quickly!) but your homeowners policy or renters policy provides $10,000 worth of personal property coverage, you’re short $15,000 of coverage if you were to lose everything in a fire or other incident.
   
   Think you don’t have that much? You’d be surprised at how the little things add up, so do an inventory of your assets. Electronics, furniture, jewelry – it’s all important. Total up the values, and use that as a baseline for the amount of coverage you need.
    
2. Consider your lifestyle.
   If you own a home, you already know that you need homeowners insurance. But, what if you rent? Many renters don’t know that their landlord’s policy typically only covers the building, not the personal possessions of tenants. A renters policy will cover your stuff, and it likely will cost less than you think – this coverage is one of the best bang-for-the buck insurance options out there. 
   
   Think about how you get around, too. Do you love your car? Make sure it’s protected – particularly if it’s a newer model or a luxury brand, which can be expensive to fix. (For older cars, you might be able to save money by removing collision or comprehensive coverage.) Higher deductibles can keep your premiums lower, too. And, if you work for a car-sharing service, be sure you know what kind of coverage you have – you might want additional protection.
    
3. Work with an independent insurance agent who understands your needs.
   It’s smart to be informed about your insurance needs and options, but it’s also smart to seek out expert advice. Because, who better to guide you through all the carriers and options out there than someone who deals with insurance day in and day out?
   
   

We know you have big plans for your life, so have a plan for your insurance coverage, too. As you move through life, from starting out on your own to starting a family, insurance helps you protect what matters most. So, work with us to get the coverage you want at a competitive rate, and keep your policies up to date with an annual insurance review.

See the original article here: http://www.safeco.com/blog-detail/insurance-tips-for-young-adults/1240029506496