Insurance

Car Insurance, Renters/Homeowners Insurance, Health Insurance, Dental Insurance, Life Insurance.

It's important.

I didn't get any quotes for car insurance, just signed up with my parent's insurance company. I've had good results but haven't needed a lot from them; I've had a few tows, glass replaced and the big payoff was for hail damage. I pay every 6 mos. instead of having automatic monthly payments; I'd rather know I'm paid ahead and have one less bill to worry about. I buy renter's insurance through the same company and get a discounted rate.

I know too many people who have had bad results with insurance to shop around. There was a bad storm last summer in my friends neighborhood. Everyone else was getting roofs and siding replaced because of hail damage. Not her. Her insurance company initially denied her claim entirely, then were only going to pay for part of the damage. There were big lawsuits about 10 years ago because of other companies doing the same thing; bottom line? If you have to replace siding that's a certain age or is newer but can't be matched, you have to replace all of the siding. Same with roofs. This poor woman had to fight for several months with her insuror before they paid.

I buy medical and dental insurance through the agency through which I'm working. I had several options and went for the lower cost one. One of my colleagues wonders why I pay for dental; out of pocket expenses can be high, even with coverage. He goes to the local dental school and pays much less. The trade-off is that it takes longer because the teacher has to look at you too. That's an option for anyone near a dental school.

I'm signing up for life insurance today. I have no dependents and no consumer debt; however, I have a co-signer for my private loans, who really shouldn't be on the hook if anything happens to me. My plan is to buy sufficient whole-life insurance to cover that debt and my funeral expenses. I'm getting old.