Ontario, CA (PRWEB) March 31, 2014
Purchasing an insurance policy is not one of those simple things anyone can just cross off their To Do list and call it a day. Insurance policies can often be confusing and take some serious thought. Customizing a policy with the right insurance advisor is an important first step.
Insurance can be provided through an employer or an individual policy can be purchased. Group coverage generally ends with a switch in jobs so make sure to evaluate what the new employer has to offer or buy an individual policy. Be aware of any new or different coverage provisions with a new employer because chances are the coverage will not be the same as in the previous policy.
Auto insurance is a familiar example of the limitations and restrictions there are in the average insurance policy. Exclusions are typically written into the policy so look at how the insurance company would handle rental cars, if the car is parked away from your apartment or how other drivers of the car will be covered in the event of an accident.
“Which drivers and what vehicles are covered by your auto insurance? Most policies provide coverage for you and family members residing with you. So your child who is living in a college dorm is probably covered, but living in an off-campus apartment might exclude your child from coverage. If you and your spouse divorce, which policy insures your children who are living with each parent at different times during the year? Notify your insurer about any change in living arrangements to avoid a gap in coverage,” (Are There Gaps in Your Insurance Coverage? 360 Degrees of Financial Literacy, March 24, 2014). Read more.
“These are questions you should ask yourself regardless of the type of insurance policies you have,” advises Frank N. Darras, America’s top disability insurance lawyer. “The best thing to do is to shop around with different insurance companies and see who can bundle all your policies for the greatest services. See which companies allow you to customize your coverage without putting you in the poorhouse with high premiums.”
Disability insurance is another area where everyone needs to talk the talk before walking the walk. The verbiage of the disability insurance world can oftentimes make people scratch their head or misunderstand a crucial portion of their policy. Deciding between total disability and residual disability, the elimination period you want, and even where to buy the policy is just the beginning of your disability insurance adventures.
“Review any insurance policies on a yearly basis to make sure you still have the coverage you need based on your lifestyle. For example, if you now have a higher paying job, you may want to consider increasing your disability insurance coverage to reflect your current income. Talk with a trusted insurance agent or experienced disability insurance attorney so you don’t overpay or purchase a policy that isn’t tailored to your needs,” says Darras.
Frank N. Darras is available for interviews, contact Robin Nolan at McDavid Public Relations. 800-880-9991