Health, financial and emergency situations don’t happen to me, why would they?
Even if they do, it would be cheaper to cover the costs on my own through savings and not bother with the mess of any of the types of insurance that would “cover” those situations.
This seems to be a mindset among many of the Millennials of today and leads to a generation being grossly under-insured. So, why should Millennials care about what insurance agencies have to offer? Below are some insurance tips for Millennials, including coverage you really should consider.
Homeowners Insurance
So you’re not a homeowner yet and you don’t plan on buying one anytime soon, so why does this apply? Because if you’re much like your peers, you’re probably currently renting and have a plan to purchase a home down the road. In order to get the best policies for homeowners insurance, purchasing renter’s insurance now will help build your “credit” with insurance agencies. At a very affordable rate with a higher coverage amount than you might expect, not only will it help you in the future when pursuing homeowner’s insurance, it’ll protect you in case of an emergency or theft while renting. Pay a little now for a lot of coverage and save even more in the future.
Auto Insurance
No one can predict the future or what other drivers might do to your vehicle. Having an auto insurance policy will help ensure that in the event you are in a predicament, you’re able to get in a rental, cover minor or major damages to your car or others with as little out-of-pocket expense as possible. That help will go a long way when without it you’d have to find alternate means of transportation to/from work, the grocery store, etc before being able to afford paying for repairs out of pocket.
Life Insurance
I’m sure you’ve heard the stereotypical idea the older generations have of millennials. The one that says millennials think “they’re invincible and can survive anything life throws at them.” The advantages of starting a life insurance policy earlier rather than later far outweigh the disadvantages. First, when you’re young and healthy it is much cheaper than if you wait until you get older. Second, funerals are expensive and you don’t want to stick family and loved ones with a crushing debt to make sure your burial is financed. Lastly, if and when you have a family, worrying about the financial aspect of the inevitable is the last thing they should have to worry about. Long term planning can go a long way in taking care of your family, even after you’re gone.
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Every millennial and customer is different so no one approach or insurance coverage will work for each. No one can accurately predict what the future holds for them and the best way to stay protected is through policies, no matter your age.
Find out more about what professional insurance agents can offer by simply having a conversation with us.
