Auto and Homeowner’s Insurance
Getting the Right Protection
Everyone knows the advertisements that ask you to call a toll-free phone number and in just a few minutes you’ll be able to save hundreds of dollars on auto insurance. But what those commercials don’t tell you is that insurance is not a commodity – and you should never buy insurance for your car, home, boat, RV, or motorcycle “off the shelf,” the same way you might buy a bag of flour or sugar.
Insurance on your auto should be reviewed by a knowledgeable professional who will take the time to calculate the proper replacement cost of your car, and make astute recommendations on the right levels of automobile coverage you should have. Here’s an example: many times people think they can save money by having “state minimum” liability coverage on their auto insurance policy. Though this may be seemingly less expensive, in the form of a lower insurance premium, in the event of an accident where someone is badly injured, it can be vastly more expensive since you will be held liable for any damages above and beyond your insurance policy limits.
Think about it this way: if you were injured by a drunk driver and could never work again, would $25,000 go very far?
Ensuring that your home is properly insured is a process that takes time and attention to detail. First, your insurance agent has to determine the replacement cost of your house, which is usually very different from the appraised value used to sell a home, or an assessed value used for tax valuation. Replacement cost takes into consideration everything from square footage to floor coverings, from siding to bathroom fixtures. No two buildings are the same, and every insurance company will have a different valuation.
Having adequate replacement coverage will assure you that in the event of a major loss, you’ll be able to put your home – and your family’s life – back together again with a minimum of disruption.
Contact us today for a no obligation consultation to assess your individual situation for the right protection for your home and auto.
Moscato & Associates and Foresters Equity Services are separate and unaffiliated entities.
Securities offered through Foresters Equity Services, Inc. Member FINRA, SIPC.
Branch Office located at 6640 Lusk Blvd. Suite A202, San Diego, CA 92121
950 Danby Road, Suite 102, Ithaca, NY is a not a branch office or an affiliated location of Foresters Equity Services, Inc.