As we move through the weeks each year, many don’t make the time to make sure their insurance protection is keeping up with their life. State Farm Agent Melanie Bakala lists a few events that occur in our lives where you may want to think about updating your insurance plan.
New Home
  • Insurance need: Obtain homeowners insurance
  • Why: A new home is a big investment, and homeowners insurance will help protect it from things like fire, weather damage, theft, vandalism, accidental damage and more.
  • How: Get a professional to give you an idea of how much insurance you’ll need. You will want to insure your new home for 100% of its estimated replacement cost – not market value.
New Baby
  • Insurance Need: Increase life insurance
  • Why: Having a baby is just the start of a huge financial commitment – increasing your life insurance will help you feel more secure about your baby’s future should you or your partner pass away unexpectedly.
  • Did you know? According to the U.S. Department of Agriculture, it costs $233,610 to raise a child to age 18.
Teen Driver
  • Insurance Need: Increase auto insurance
  • Why: No driver should run the risk of being uninsured on the road, teens included – especially since this group is the most at-risk for getting into car accidents.
  • Did you know? Adding a teen driver to your auto policy may raise your rates, but costs may drop gradually as your teen gains more experience behind the wheel.
New Business
  • Insurance Need: Obtain business insurance
  • Why: Running any kind of business – from a storefront to a one-person operation – means you can be at risk for a lawsuit. Business insurance protects against large costs associated with legal fees, settlements and more.
  • How: Your State Farm agent will help you determine the kind of coverage your business needs.



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