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Insurance is a crucial component offinancial planning.
However, insurance plans dont exactly come as a one-size-fits-all package.
Your needs are unique and highly personal.
Your coverage should be, too.
Its a hard question.
Fortunately, GOBankingRates talked to some experts who canhelp you find answers.
Are you areal road warrioror more likely to only take the car to the grocery store on weekends?
She said you should take the same open-eyed approach to assessing your home insurance plans.
These are questions that youll want to not only ask yourself but ask your insurance provider.
You should invite the agent to tour your premises and discuss how you are currently managing risks.
They will be able to evaluate your actions and offer suggestions, she added.
Part of building that relationship means finding the right provider, which means doing some shopping around initially.
Ruiz said that askingfriends and familyfor recommendations is a good place to start.
She also encouraged you not to be afraid to do some comparison shopping and ask hard questions.
Remember, youll be dealing with this company in the event of an accident or other emergency.
You might choose to tie your liability insurance to your net worth.
Umbrella liability policies are a cost effective way to cover this risk, he said.
To lower health insurance premiums, most people have a form of a high deductible plan.
Consider your lifestyle, family history and age when looking at supplemental coverage.
Dont set it and forget it.
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