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Established Families


By this point, you may already have many of your basic insurance needs in place, such as life insurance and homeowner's coverage. However, as the value of your home and other assets increase, and as your child or children approach college age, your financial situation including your insurance needs will change.

Auto Insurance

As an established family, possibly with teenagers under the roof, the struggle for who drives when may be becoming more prevalent. When adding young drivers to your insurance, shop around to see who offers the best rates. Now may be a good time to switch insurance policies. You may also be at a stage where your taste in vehicles is changing. When deciding on coverage for a new vehicle, you may want to add an umbrella policy to cover any liability that may be needed in the future by you or your teenage driver. Remember, if your teenager maintains good grades and a solid driving record, policy rates are not as expensive. For more information on auto insurance, check our web site or go to InsureU.

Home Insurance

At this point in your life, your home is very likely your biggest asset as well as a major cost item in your budget. You may move to a larger house, build an addition or replace that child-stained sofa and inexpensive wall decoration with pricier furnishings and artwork. Insurance prices go up as the size of your house gets larger. By installing safety features such as alarm systems, smoke detectors, strong doors, and deadbolts, you not only insure the safety of your family, buy you can also save money on you insurance policy because these features reduce the likelihood of insurance claims. Read over your insurance policy and make sure you understand what your home is insured for and what is not covered. If you live in a disaster prone area or a flood zone, it is likely you will need extra insurance to cover any losses that may occur. If you have a dog or outside toys like a trampoline or pool, there may be extra liability issues to discuss with your insurance company. They may suggest an umbrella policy be added to your homeowners insurance, in case of an accident. For more information about homeowners insurance, check out our web site, or go to InsureU.

Life Insurance

Busy lives typically do not draw on free time to read up on life insurance policies. As an established family, you have most likely researched and set up a life insurance policy. It is important to periodically review the terms of the policy and assess the rates. It may be a good idea to look into term life insurance or annuities. Planning ahead for a child's education, permanent life insurance can help to complete a college savings program that is not fully funded. At this point, it may be wise to consider purchasing a mixture of term life insurance and whole life insurance. For more information on life insurance, check out our website or go to InsureU.

Health Insurance

As you grow older and your family matures, your health care needs change. Thus when your annual enrollment date approaches for employer-provided health insurance, recognize that you may want to alter elections or eliminate certain types of coverage, if you have the choice. There may be some services covered by a policy that are no longer necessary, just as there are some services not covered that need to be taken into account. Consider setting up a flexible spending plan to set aside pre-tax money to cover these expenses. Now may be a good time to look into long-term care. The rates grow as you get older and researching and purchasing a policy now may save you a headache when you most need coverage. Our web site has more information about health insurance and long-term care insurance, You can also find a wealth of information at InsureU.

Take the Test

When you think you are ready, take the InsureU Quiz to double-check your knowledge of insurance.