first time insurance buyer

What Every First-Time Insurance Buyer Should Know When Seeking Coverage

It’s understandable that, at times, life can become so busy that seeking out an insurance policy can be left on the back burner. However, for those in their 20s who’ve already begun a career or can no longer be listed on a parent’s insurance policy, it’s important to know that your search for coverage is something that shouldn’t be taken lightly. Our insurance brokers are ready to explain the ins and outs of purchasing insurance for first-time buyers.

Whether you’re a first-time insurance buyer or already have a policy but want to make a change or addition to your agreement, contact our insurance agency in McAllen today to get started.

Educate Yourself

If you’re buying insurance for the first time, you’ll first want to consider which type you’ll need. If you’re planning on purchasing a vehicle, then car insurance will definitely be needed, especially in the State of Texas where it’s required by law. If you’re planning on purchasing a house, home insurance will be needed. Life insurance is also another option that is absolutely necessary for peace of mind.

If you’re financing a vehicle with a financial institution, they may require you to own comprehensive, collision or full coverage on your car or truck. If you are only looking for liability coverage, find out if extra protection is something you might want to add.

Learn from Your Experiences

If you’re coming off of your parent’s policy, this most likely means that you’ve been insured, which can be a good thing. Being previously insured on an automobile policy can lower what you pay on a new one. Staying accident-free for three years or more can also give you a break with how much you’ll be paying on a monthly basis. Depending on the insurer you choose, you may also qualify for a legacy discount, which is applied if you’ve purchased a policy from the same insurer that your parents use for their vehicles.

Why Should You Purchase Insurance?

The reasons why you need to have insurance are endless, but most importantly, having insurance coverage means that, in case something happens, such as an auto accident or house fire, you will not be put in a financial bind. For example, when out on the road, there can be an incredible amount of obstacles in your way. From avoiding debris on a highway to watching out for other drivers, the unfortunate can always happen, and if you cause injury to someone or damage their property, it’s up to you to pay for the cost of repairs. This is where insurance comes in and has you covered.

Our Thoughts

Rafie Moreno has been with Shepard Walton King for over 20 years and has some great advice about buying insurance. “The advice I give to parents with adult children who are still on their insurance policy is to take them off. Parents generally aren’t the ones having accidents, but they may end up being labeled as a high-risk driver if they aren’t the ones filing insurance claims.

“I also tell clients who have 21-year old daughters or 25-year old sons to take them off of their policy and have them sign up for their own. This can help them build credit and even pay lower prices for their insurance. Of course, keeping a clean driving record will always look better to insurance companies.”

Contact Us Today

Shepard Walton King understands that as a first-time insurance buyer for a vehicle, home, life or health policy, you may have plenty of questions about what to do to get started. That’s why we will explain the process thoroughly to help you make the best decision possible. Contact us in McAllen today to get the coverage that’s right for you, even if you are a first-time insurance buyer.

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