Monday, February 3, 2014

Monthly Costs...but how much?


     While discussing insurance, the number one question is “how much is it per month?” The common response: “That’s too much!”

     No matter what the coverage, no matter what the factors are, no matter what the company, people feel insurance costs too much. So let’s look at a few things while you read this drinking your Grande Mocha Frappuccino Skinny Latte costing $4.80. You have your monthly costs, but how much CAN it really cost you?

     Most insurance companies have their target clients; number of assets, income, household size and location. The companies price their products based on these factors and some companies want the people willing to pay more for better coverage while others target the minimum payment customers. Next time you talk to your company, ask them how much it would cost to go to the ‘next level’ of insurance coverage, it may surprise you.

     Increasing your coverage may only cost you a cup of coffee or an HBO package per month and we are talking double or triple coverage. Like interest on a credit card, your purchase today could add up in the future if you were to cause a major accident. The attorney on the other side doesn’t care about your lifestyle or how you like your coffee or what shows you watch and they will go after your income.

     For a little bit more money per month, look at adjusting your insurance up and don’t always think the insurance costs too much. After an accident, you will be glad you have the better coverage and you can never have too much.

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