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Six Questions to Ask Your Insurance Agent


(Erie, Pa.) June 7, 2017
– Whenyour life changes your insurance often needs to change, too. Yet it’s notalways clear what kind of insurance protection fits you, your family or yourbusiness. What a family of six needs is much different than what a single20-something needs.

Here are six questions to ask your insurance agent atvarious life stages:

1. My family isgrowing and changing. What coverage should I consider?

  • Life insurance is something most families need. The primary reason most people buy life insurance is to protect their loved ones from the financial burden after an unexpected death. To get a rough idea of how much you should consider, check out ERIE’s Life Insurance Calculator.
  • A typical homeowners policy covers personal belongings and furnishings up to certain policy limits. For higher-valued items, such as a diamond ring, a rare piece of art or expensive electronic equipment, you may want to expand your protection with higher policy limits or extra coverage.
  • If a teenager in your home is learning how to drive, you’ll need additional auto insurance once the teen is licensed.

2. Do I needadditional insurance if I’m remodeling or adding on to my home?

In some cases, remodeling projects can increase your home’svalue. If they do, you’ll want to adjust your insurance coverage so your home’sreconstruction cost is fully protected. Your insurance agent can alsohelp you understand more about what insurance a contractor shouldhave in place before work begins.

3. I’m fresh out ofschool and new to the workforce. What coverage do I need?

If you’ve left home and are renting an apartment, you’re nolonger covered by your parents’ homeowners policy. Instead, you’llneed renters insurance tocover your belongings and more.

When it comes to auto insurance,you may be tempted to buy a bare bones policy to save money. That’s a riskymove because it may not give you enough protection. If your insurance policydoesn’t cover all the damages, your savings and future wages could be at stake.

If you have student loans or debts,ask an insurance agent about life insurance. If someone cosigned on yourloan, life insurance can help.

4. What coverage do Ineed for my home-based business?

From inventory to libel issues to customers visiting yourhome, home-based businesses definitelyneed coverage. Depending on the nature of your home-based business, you mayneed a simple endorsement to your homeowners insurance policy or a new policy.

5. A friend was suedafter a car accident. How can I make sure I’m protected against something likethis?

Your insurance policy already includes liability coverage,yet state minimums are almost never enough for most drivers. Having too littleliability coverage puts you and your assets at risk. Personal Catastrophe Liability coverage(commonly known as“umbrella” insurance) provides an extra layer of liability protection over andabove your auto and homeowners policies in the event that you (or a coveredfamily member) are sued. For most people, an extra $1 million in coverage costsless than $20 a month. Your insurance agent can review your auto insurancepolicy limits and tell you more about PCL.

6. How can I savemoney on my insurance?

Nearly all insurers offer price breaks on coverage based onhaving a safe driving record and bundling your auto and homeowners coverage.Talk to your ERIE agent to find out more.

Be careful about selecting an insurance company based solely on price.Instead, seek out companies with reputations for excellent customer service,strong financial standing and a reputation for handling claims quickly andfairly.

No matter what stage of life that you’re in, seek the adviceof an insurance professional like an Erie Insurance agentto help you find the right coverage at the right price to fit your needs.