Go ahead. Google “insurance mistakes.” There’s a flood of stuff about the simple errors many of us make – from not having coverage to paying for stuff we really don’t need.
Laura Adams, who hosts the popular podcast, “Money Girl,” could save you a ton of money and loads of heartache.
Laura is a font of wisdom about insurance and she gives us the basics about auto, home, life and health policies on this week’s “How Do We Fix It?” podcast. She takes a potentially dry subject and makes it approachable and believe it or not, entertaining.
Here are Laura’s 5 insurance fixes…
– Make sure you shop around for insurance. Get several quotes and reach out to an insurance agent who can explain is and is not covered by your policy.
– Learn the basics at insurancequotes.com, bankrate.com or the non-profit Insurance information Institute. http://www.iii.org.
– Avoid duplication. Make sure you understand exactly what you’re buying.
– Many states have programs to help people who can’t afford insurance. Check out your state’s Department of Insurance.
– Term life insurance policies are much cheaper than many people realize, A healthy person under 40 may be able to get $250,000 in coverage for less than $20 a month.