What Are The Types of Car Insurance?

Nothing compares to your “first set of wheels”, no matter how many years that you are a vehicle owner.  Everyone remembers their first car, whether it was a hand-me-down from Dad, or an old clunker you got dirt cheap that ran.

The biggest downer about owning your first car, or your current car for that matter, is not the amount of money you must pay for maintenance and gas for the vehicle, but the funds you expend to insure it.

But today’s cars are not your Dad’s car from back in the day.  He may have just buffed out a mark where someone keyed the car or nicked the bumper.  Today, just a wayward grocery store cart that slammed into a tail light or a minor or major collision may not only mess up the exterior of the car, but the electrical system may also be in peril too, thus repair costs will skyrocket.  That is why you should be wise about what type of coverage you need for your vehicle.

The History of Insurance

The roots of insurance go way back to Babylonia, where traders were encouraged to assume the risks of the caravan trade with funds to be paid only after the goods had arrived safely.  The Phoenicians and the Greeks soon hopped onto that bandwagon and utilized a similar system for their seaborne commerce.  The Romans were innovative as well and used “burial clubs” as a form of life insurance, by providing funeral expenses for members and later making payments to their survivors.

As towns grew and trade spurted up around Europe, many medieval guilds undertook measures to protect their members from loss by fire and shipwreck, or provide ransom from captivity by pirates, and to provide decent burial and support in times of sickness and poverty.  The earliest known insurance contract was in Genoa, Italy in 1347 and soon marine insurance became practically universal among the maritime nations of Europe.

Types of Useless Insurance

A prudent person ensures that their health, vehicle, home and life is insured.  The first of these four items, health insurance, is the most-important type of insurance you can have, because, after all, what is more precious than ensuring that you and your loved ones are covered for any catastrophic illness that may befall you and them?

If you do not have insurance coverage at the present time for any of the above-listed items, you really should consider seeking an insurance broker, like John Savadjian, located right here in the New Jersey area.  He will assist you in tailoring the right insurance to match your needs.

What Type of Insurance Do I Need?

When you were a kid, your mom probably told you never to leave home without some Kleenex and enough change to make a phone call in case you got into trouble.  Back in the day, two dimes would do it, and maybe carrying an extra two dimes in case you fumbled and dropped the first pair and couldn’t find them.  Now most people carry a cell phone so carrying spare change is not a necessity, but the Kleenex…. well, that still makes sense today.

Just like being prepared with tissues or spare change for those daily little issues, having insurance policies in place will thwart most of life’s calamities and you will emerge from those times better for your preparedness.

“Fortune favors the prepared mind” -Louis Pasteur

What Are The Types of Health Insurance?

If you are a worker bee, like the majority of Americans who have health insurance, your workplace picks a plan and you just basically go with the flow; if you’re lucky, the plan includes dental and optical as well, and, if you really lucked out, there is a disability policy in place for you too.

If, however, you are a single subscriber because you are in business for yourself, or have lost your job and must obtain health insurance, there are wide range of options out there to choose from.  In the past, if you couldn’t afford it, you might have gone without health insurance, but, since the advent of the Affordable Care Act (“ACA”) or “ObamaCare”, it is the law that you must have health insurance in place or pay a fine.

Below are some salient points to help you muddle through understanding the various types of insurance – remember that you can always make it easy on yourself, by consulting with someone whose skill and expertise in the insurance field will make the choices easy for you to understand – such a person would be John Savadjian, an insurance broker in New Jersey.  A top insurance broker like John Savadjian can go over all of your insurance needs with you and can help you choose the best plan for the best price.

What Are The Types of Homeowners Insurance?

Insurance premiums may sometimes seem to be the bane of your existence, but, think of the alternatives, if you had no insurance for your vehicle or/or home and there was catastrophic damage to either one?  Your home is probably your largest asset, and, without adequate insurance in place, quite possibly, your finances could be wiped out in a matter of moments.  You often hear stories of devastating tornadoes, and, in their aftermath, you view the shocking photos of a home with only the foundation remaining and a family gathered together looking at the devastation, but thankful that their lives were spared.  When you see devastation from a tornado, a fire – or even a robbery, having good insurance in place, will help to make you and your family whole.

What Are The Types of Car Insurance?

Nothing compares to your “first set of wheels”, no matter how many years that you are a vehicle owner.  Everyone remembers their first car, whether it was a hand-me-down from Dad, or an old clunker you got dirt cheap that ran.

The biggest downer about owning your first car, or your current car for that matter, is not the amount of money you must pay for maintenance and gas for the vehicle, but the funds you expend to insure it.

But today’s cars are not your Dad’s car from back in the day.  He may have just buffed out a mark where someone keyed the car or nicked the bumper.  Today, just a wayward grocery store cart that slammed into a tail light or a minor or major collision may not only mess up the exterior of the car, but the electrical system may also be in peril too, thus repair costs will skyrocket.  That is why you should be wise about what type of coverage you need for your vehicle.

Do I Need Insurance?

The world of insurance can be super complex and trying to navigate through the various types of insurance to find exactly what is necessary and what is not can be confusing.  Before you contact the insurance company, it is important to be familiar with the different types of insurance available and which ones you actually need. Then a top insurance broker can help you sort through the types of policies and find what is suitable for your unique set of circumstances.

Types of Life Insurance

For the top insurance broker, one question they hear frequently is about the different type of life insurance. They are often asked which type is the best and if everyone needs a life insurance policy. The primary purpose of life insurance is to protect families in the event that the primary earner in the family dies. It was initially designed for younger families who were in the phase of accumulating wealth. Early on, there’s not a lot of wealth to be had and it takes years of established employment to preserve wealth and set up the family for future years. Life insurance gives individuals a way to protect themselves and their families from exposure to personal risks such as having to pay off debts after a death, providing income for remaining family members, paying funeral expenses, or fulfilling other goals like helping to put kids through college. If a person provides the primary income for a family or are in business for themselves, life insurance can provide essential protection. It is important to know the types of life insurance available to you to help you protect your family.