Archive for the 'Life Insurance' Category

College Students and Insurance

College Student in Your Household? Check Your Insurance Coverage

Peter Wallin, Insurance Agent Elmira NY

If you’re helping one of your children go off to college for the first time, or return to college, we may be able to help you save some money and gain some extra protection.

Here are four things to consider about insurance when a child enters college.

1. You could get a discount on your auto insurance. Because you’ll have one less driver living at home when your son or daughter goes off to school, your household might get a discount — as long as they don’t take a car along. If he or she does take a set of wheels, contact our agency. We can review your coverage to make sure your child is properly insured.

2. Your homeowners insurance might extend to his or her belongings. Usually, the belongings of your child-turned-college-student will be covered by your homeowners insurance, but it’s best to be sure. If for some reason the coverage doesn’t extend, consider purchasing renters insurance. Students who live off campus may not be covered by their parents’ homeowners policy and may need to purchase their own renters insurance.

3. Student loans might call for extra protection. If student loans are involved, you might want to consider life insurance* for your son or daughter. It can help financially in the case of an unexpected tragedy (although no one wants to think about that). If a tragedy never occurs (thankfully), your son or daughter can also opt to carry the life insurance to the next stage of life – making it a wise investment.

4. Insurance can help in the most unexpected cases. Accidents happen — sometimes tragically. Extra liability coverage through a Personal Catastrophe Liability policy, commonly called an umbrella policy, can help protect you should a lawsuit ensue from a big mistake.

Most importantly, let your insurance agent know of the changes happening in your household so we can double check your specific situation and coverage needs.


Life Insurance discussion with NY Insurance Agent Peter Wallin

Protect what’s yours with Life Insurance
By Peter Wallin, Elmira, NY Insurance Agent

Congratulations! It’s what you hear when you:

A) get married

B) have a baby

C) get a new job 

D) buy a home

     And when you hear it, it might be a good time to evaluate or re-evaluate your life insurance needs. You can protect the lives of your loved ones, protect your legacy, protect everything most important to you with life insurance.  The best time to look at life insurance, really, is when you experience one of these big life changes.  Here are some questions to ask yourself:

Marriage: How much life insurance do you and your spouse need now that you share expenses and financial goals?  If something were to happen to you or your spouse, would your expenses be covered and would your financial goals be met? 

New baby: Children are expensive little buggers! And we’re not just talking toys and birthday parties. We’re talking daycare, clothes, food, college…would you be able to pay for those items on one salary —or no income at all?

New job: It’s only human nature to increase spending when more money is coming in. Will your family be able to maintain their lifestyle if the income stops?

New house: Could you stay in your current home if something happened to your spouse? A lot of people, unfortunately, cannot. The costs of home ownership go beyond just the mortgage. Utilities, taxes, unforeseen repairs and other maintenance costs can cause your family to be uprooted at a time when they need stability most. When you purchase homeowners insurance, make sure you ask about life insurance as well.

So next time you hear that big “Congratulations!” give us a call. We’ll help you keep you and your loved ones protected.    

February 2019
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