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MENAFN- PRLog) ... here is the advice you would probably receive. Read the new comment by insurance law attorney Jared Stolz, Esq. to learn more about essential insurance coverage. Jared Stolz, attorney in New Jersey Spread the Word
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• Jared E Stolz
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• Flemington - New Jersey - US
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FLEMINGTON, N.J. - March 31, 2019 - PRLog -- When you buy an insurance policy, you get protection in return. The risk is shared by many policy holders. In other words, insurance helps mitigate the damage that may be caused at the time of adversity. When that's the case, insurance buyers enjoy peace of mind as they don't have to worry about covering the damages; all of which is well-taken care by insurance companies. Since insurance offers security in advance, the buyer, which is you, doesn't have to worry about dramatic risks at all. Insurance law attorney Jared Stolz, Esq. provides his view in a new comment. The complete article will be available on Mr. Stolz' blog at https://jaredstolz.law.blog/
There are several types of insurance out there; some of them are absolutely important while others aren't that essential and hence passable. How can a novice figure out which insurance policies are necessary and which aren't? In a new article, Jared Stolz provides his view on some crucial insurance policies that people should definitely invest in, and others which are probably not necessary.
In general, an insurance that affects an important part of your life, such as your home, your health, your family, and your safety (such as car insurance), is worth a phone call (or even personal visit) to your insurance agent.
If you asked an attorney who works with insurance company, he or she would probably suggest the following types of insurance policies that every person needs to purchase today:
According to many lawyers, life insurance is the single most important insurance policy that you should not hesitate purchasing, especially if you are the breadwinner of your family. It protects your loved ones financially in case you die unexpectedly. Life is unpredictable and one doesn't know what may happen the very next moment. There should be a backup plan that can support your family when you are no more there for them. Life insurance will help your family by providing them with income or assets in case you are suddenly gone.
Some lawyers recommend that your life insurance should cover "ten times your yearly income." That sum should be enough for your family (that primarily depended on you) to take care of all their expenses.
Your house is probably your most valuable asset. And if it gets damaged somehow, it will make a big hole in your savings. If it needs repairing, you may not be allowed to live there until the necessary repairs are made.
If you have a mortgage, then your lender requires insurance. Even if your home is paid for, you should still have insurance so that you are covered in case of a loss. Just think what a fire or severe weather can do to your house. There are different types of home insurance that homeowners can look into, suggest insurance lawyers. In one type of insurance policy, your home insurance can contribute to paying for your home repairs or get you a new house in case yours is destroyed by some calamity.
If you don't own a house and live in a rented apartment, you should consider renter's insurance. In this type of insurance, your items will be protected against theft or loss. And most important of all, as professional lawyers suggest, it will protect you against liability. Even in an apartment building, accidental loss or damage can be considerable. Just imagine a burst waterpipe on the 10th floor of an apartment building, and the water working its way down through many different apartments.
The costs of health care have risen drastically in recent years, making it difficult for an average person to afford it. In fact, nowadays a serious health issue can also ruin you financially. This is why if you consult professional lawyers, they will suggest you get health insurance immediately if you are not currently covered by one.
You never know when you may get diagnosed with a life-threatening illness. It is always better to have an insurance policy that can cover your health care expenses, in case an unexpected accident or illness befalls you.
After the house, your car is probably your second most important investment. According to the latest statistics, over ten million traffic accidents occur in America alone. Clearly, accidents are not uncommon and one should get their car insured so that damage (big or small) to your car will be insured by the insurance company.
There are states that allow you to drive uninsured under certain circumstances. See, for example, for Virginia https://www.dmv.org/va-virginia/car-insurance.php . That is certainly not a good idea, especially these days with many drivers being distracted by their cell phones. Also, many States only require a certain minimum insurance, such as $25,000 for injuries, per person per accident. Again, an accident can happen easily, and $25,000 certainly would not cover injuries in a serious accident. This is an issue you should discuss with your insurance agent.
*** Jared Elliott Stolz is an attorney in New Jersey, focusing on insurance law and litigation. He is the managing partner of Stolz and Associates.
Blog: https://jaredstolz.law.blog/
Attorney Profile: https://solomonlawguild.com/jared-stolz%2C-new-jersey
Contact
Stolz and Associates
Jared E. Stolz, Esq., New Jersey
***@mail.com
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