My partner and I recently got engaged: we will be starting our lives together soon, making this the best time examine our financial state: where we stand at the moment, what we have to still sign up for and how to get where we want to be. Of course, we want to be financially secure, who doesn't? We want to be able to live our lives to the maximum. We want to be able to support each other, should something happen to either of us, and we want to be able to provide abundantly to our children one day. But where do we begin? My partner owns a car and has a car insurance policy in place, but I don't. I live 2 minutes away from the place of work and feel it unnecessary to pay two car insurance policies where we only have to pay for one. We don't own a home, yet. Neither of us have our own business, and we don't really have a lot of valuable belongings. Sure, we've got a television, a stereo and possibly a vintage painting or two that needs to be insured, but is it enough? Are there car and home insurance policies available to suit even our unusual needs? We believed not; how wrong were we!
During the past holiday, we spent some time researching car and home insurance and found out that there are several things to consider before applying for a policy. We found out that a person's age, sex and marital status, along with their driving history and credit records all have an effect on the policy premium rate. For instance, my partner is turning 26 in a month or two and would like to take out a new policy. If he waits until after his birthday, his premium on auto insurance can be reduced by about 20% because people aged 18 - 25 are believed to be reckless and the risk of them being involved in any type of crash or accident is higher.
Females, however, are considered to be angels while travelling. Our car insurance premiums will be sufficiently lower than that of guys because we're thought to be more responsible and better drivers than men. It's times like these when I really love being a girl! Things like where you reside, how much you drive and where your vehicle is parked at night also influence your premium directly. And don't even think about lying on your application form, because should the truth come out prior or even after any sort of accident or claim, the insurance company will immediately terminate your policy.
Car and home insurance is no laughing matter. We found it to be really perplexing at times. So we decided to find a broker to handle our home insurance. Finding a trustworthy broker was difficult, but worth it. After exploring several different policy options from different companies, we chose to hold back until we're lawfully married before applying for a policy, but at least we now know what to expect and what to prepare for. Insurance is a vitally important part of a family's life: it is a form of risk management. It forms the foundation of your financial house, and if it is missing from the puzzle, your financial state can come tumbling down any time; you never know what might happen, so always be prepared.
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