5 Types of Insurance Every Millennial Should Have
If you’re a millennial (18 to 34 years of age), you should now be able to responsibly handle your income, which means investing in your future with the right type of insurance. Without coverage, something as insignificant as a trip to the local clinic can put you in debt. Even a fender bender can put a clamp on your wallet. Avoid these financial strains and get the insurance protection you need today. Check out five forms of insurance you should consider getting if you fall into this age group.
A Healthcare Plan
You’re getting older, so the chances of becoming ill will increase as the years go by, especially if you’ve picked up bad habits such as smoking, drinking heavily, etc. This is why the need for health insurance is greater than ever. There are also some factors you might not be able to control, such as hereditary issues. According to the American Diabetes Association, 12.8% of the Hispanic/Latino population in the U.S. lives with diabetes; almost double that of non-Hispanics. Be smart and take your future health concerns into consideration by finding a proper healthcare plan that suits your needs.
If you’re in your mid-to-late 20s or early 30s, you’ll more than likely begin to settle down or have already settled down to start a family. It would be absolutely terrible if something happened to you that resulted in your death, leaving your family to deal with large medical or funerary costs and regular bills, like a mortgage, to pay for. That’s why, with life insurance, coverage can take care of funeral costs. Some insurers even offer mortgage term life insurance!
Protection for the Road
This should go without saying, but by now, if you own a vehicle, it should absolutely be covered with an insurance policy. At the very least, it should be equipped with liability insurance as it’s the law in Texas. If you are in an accident, your insurance company will help with the costs resultant of hospital bills and repairs. Even if you’re a great driver, you can’t predict what other drivers on the road will be doing, much less be as cautious as you are. Also, lacking insurance can cost up to $350 dollars if you happen to be pulled over.
Keeping your Home Safe
When you purchase a home, having homeowners insurance is a requirement, but if you rent, sometimes having renters insurance isn’t. Don’t overlook a coverage policy that could come in handy, though. Having your personal belongings protected in cases of theft can mean the difference between being left with nothing and having the funds to replace them.
Staying Above the Water
Living in the Rio Grande Valley, you’re well aware that it doesn’t take days of heavy rain for water to build up and turn the streets of McAllen into little rivers and creeks. Depending on where you live, the average annual price for flood coverage may not be as expensive as you think. And can you really put a price on receiving immediate help after a natural disaster? Flood insurance prices depend on where you live and your property’s elevation. Flood insurance won’t keep your home from flooding, but it can get the ball rolling on rebuilding or repairing it.
Contact Us Today
We know that shopping for insurance shouldn’t be hard. That’s why Shepard Walton King helps clients find different policies from difference insurers, and we’ll be glad to help you find the one that fits your family’s needs. Call our insurance agency in McAllen today to get the coverage you need.
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