The Top 3 Most Searched Insurance-Related Questions
Ever found yourself lost in the labyrinth of searching for answers to your insurance-related questions? Doug Walker from FCI Agency has you covered as he answers the top 3 most searched insurance-related questions.
1. How Does Car Insurance Work?
Car insurance is a must-have if you own a vehicle. However, it's crucial to understand that your insurance follows you, not your car. This means if you were to operate a friend’s car and something goes wrong, your insurance is what covers the expenses. For a clearer understanding, let’s break down the components of a typical car insurance policy:
Bodily Injury: This clause covers any injury that occurs as a result of an accident you've caused where you are at fault.
Property Damage: If you cause property damage in an at-fault accident, this line-item covers associated costs.
Uninsured and Underinsured: This covers situations where the party responsible for the accident isn't adequately insured for the damage caused.
Comprehensive and Collision (Physical damage): These optional components of the policy cover the insured's vehicle. If something happens such as a collision with a deer or damage from a fallen tree, the cost of damage to your own vehicle is covered.
2. What is the Cost of Health Insurance?
The cost of health insurance varies significantly and is influenced by various factors including age, gender, health conditions, and even body measurements. If you need help figuring out the potential cost of health insurance based on these factors, our team at FCI Agency is always ready to assist.
3. Should I Carry Life Insurance?
The resounding answer is, yes! It's a common misconception that life insurance is only necessary when you're married, have children, or possess substantial assets or debts. The reality is, everyone can benefit from life insurance. Even if you’re single, we recommend at least securing a small policy to cover end-of-life expenses, such as a funeral, to minimize the financial burden on loved ones left behind.
Life insurance can also prove pivotal in business situations, serving as a buy-out measure for business partners in case of an untimely death, ensuring financial stability. Remember, life insurance is often more affordable the younger and healthier you are.
Additionally, a term policy acquired at a young age could be crucial in the event of a later health-related issue where you become uninsurable. This could provide stability and security for a future partner or children.
Understanding insurance can be complex, but we're here to help. Hopefully, these answers provide a better understanding of car, health, and life insurance. However, we're sure there are countless more questions, and we're here to answer them. Please reach out to us at the FCI Agency with any inquiries you may have.
