Important Insurance Needs for Families with Children

November is National Child Safety Month and a good time to take a look at some of the more important areas of insurance a typical family with children will need. It is important to take care of your children both in the ‘here and now’ and in the future. This means making sure their immediate needs are met and making sure their needs will be met in the event of a worst case scenario in the future.

Homeowner Insurance: Most families with children have a house. Though some rent, more are homeowners. When you own a home, it is important to have a homeowner policy that will protect you in case of a total loss. Be sure to review this coverage with your agent on an annual basis to ensure that it is keeping up with the ever increasing cost of replacing your dwelling.

Health Insurance: Children get sick from time to time. When they contract a common cold, it can normally be treated at home. But when regular cold medicines are not working, a visit to the doctor may be required. In addition, catastrophes can happen to kids every now and then, requiring surgeries for broken bones or hospital stays for extended illnesses. These days, health insurance options are more confusing than ever. If you do not receive this insurance through your employer, talk with your agent about the best available policies to cover your family.

Life Insurance: Life insurance is one of the most overlooked and underutilized types of insurance. Because it is not required, many families choose to go without it. Nevertheless, the reality is that we will all have to someday confront our own mortality and for some of us this will happen much sooner than we ever expected. It is critical for your children that they are provided for should this ever happen to you. The good news is that life insurance is now more affordable than ever. With longer life expectancies and advances in medicine, insurance rates are dropping. Ask your agent how much coverage you should have and how to find the most reasonable life insurance rates to protect your family.