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[ENTER TO WIN]( Insurance Poor – Risk Rich Adulting is tough and should come with a handbook. Luckily, there are many professionals waiting and ready to assist. Purchasing a place of your own? Call a realtor. Beginning your new career? Call a Financial Advisor to assist with retirement planning. Starting a family? Reach to an attorney and set up a will. Starting a business venture? Consult a CPA for tax preparation. If you’re in this phase of life – consider this. All the events mentioned have one thing in common: you also need to call your insurance agent. Home Insurance – Evaluate the coverage on your home insurance. A common misconception is your home should be insured for the purchase price. What you pay for your home is market value and takes into consideration the house, location, land and market conditions. The replacement cost coverage for your home is calculated with details of your home such as square feet, exterior, upgrades, and room information, along with the cost of labor and materials to build you back in the event of a loss. If you haven’t reviewed this coverage with your agent in the last couple of years, you may need to do so. With the rising cost of everything, the coverage you had last year most likely isn’t enough for today. Auto Insurance – Carrying too little liability can be a recipe for a financial disaster if you’re at fault in an accident. Liability limits only pay up to the limits you purchase. If costs exceed your limits, you could face out-of-pocket costs that could result in bankruptcy and wage garnishment. Before opting for the lowest coverage options, I recommend looking into a higher deductible and available discounts. This is a great way to ensure that you aren’t paying too much, without skimping on coverage. Recreational Vehicle – Work hard, play harder. If you own any toys like ATV’s, snowmobiles, boats, RV’s, scooters and e-bikes you should consider insurance to protect your investment from theft and accidental damage. Recreational toys also pose a high risk of accidents. Lack of liability protection puts you at risk of financial loss whether you’re responsible for, or the victim, in a serious accident. Umbrella Insurance – Cover your assets. You should carry enough liability insurance to protect all your assets. An umbrella policy will provide liability over your home, vehicles, drivers, and those recreational toys. Coverage from an umbrella picks up in the event your limits are exceeded on your primary insurance, such as auto liability insurance. You should carry enough liability to protect your assets and likely will receive additional bundle discounts to do so. Life Insurance – Never as cheap as it is today. Securing life insurance while you are young and healthy is both smart and responsible. Life insurance rates are based on your age and your health today and by waiting you risk higher premiums or not being able to obtain life insurance at all. Adding life insurance to your portfolio at a young age has benefits of locking in the premium, making a cash building policy more affordable, and the option of having the policy paid up before retirement. A term policy is a great way to lock in your insurability while providing you with an option to convert the policy later without additional health exams. You may not think you need life insurance now, but you will gain peace of mind knowing that when you do need it, you have it taken care of. Business Insurance – Each business is unique, and your coverage should be too. Beyond the basic general liability, you may need customized coverage based on your business and operations. With businesses evolving, the rate of inflation, and growing technology there are several factors to take into consideration when looking at business insurance. Your insurance agent is there to ask questions and guide you with the coverage that you need. Insurance has one job – protect your way of life and return you to the same financial state you were in before the loss. It’s tempting to cut corners and reduce coverage to save money, however, it will cost you more in a loss without the right protection. Reviewing your policies can help you determine if you should discontinue some types of coverage, increase limits on other types, or add coverage to broaden your financial protection. If an insurance conversation isn’t on your to do list, call your agent today. If you don’t have one yet, we’re happy to chat! 719-208-3144 The Gazette 30 E Pikes Peak Ave, Ste 100 Colorado Springs, Co 80903 [View web version]( You’re receiving this email because you’ve signed up to receive weekly updates from Company. If you’d prefer not to receive updates, you can [unsubscribe](.