This is the one insurance most us think we will never need, as none of us assumes we will become disabled. Yet, statistics from the West Hills insurance show that three in 10 workers entering the workforce will become disabled, and will be unable to work before they reach the age of retirement. Of the population, 12% are currently disabled in some form, and nearly 50% of those workers are in their working years.
Even those workers that have great health insurance, a good insurance policy never prepare for the day when they might not be able to work for weeks, months or may not ever be able to return to the job. While health insurance pays for your hospitalization and medical bills, where is money coming from to pay those daily expenses that your paycheck covers? Here are a few very sobering statistics regarding disability:
If you are injured and off work for even three months, would you have enough in savings to cover your living expenses? Consider what you might face financially if you suffer a major medical condition such as cancer and were unable to work for over a year.
Many employers offer both short-term and long-term disability coverage as part of their benefits package. This would be the best option for securing affordable disability coverage. If they don't, seek out a private insurer. If you aren't sure how much coverage you need, AARP offers a very good disability insurance calculator to help you.
A policy that guarantees income replacement is the optimal policy; more usual terms are replacement of 50 to 60% of your income. The cost of disability Northridge insurance is based on many factors including age, lifestyle and health. A small price to pay if you are faced with a devastating illness or injury. Disability insurance will guarantee that you will have some income when you can't work.
Auto Insurance
While all states do not require drivers to have auto insurance, most do have requirements regarding financial responsibility in the event of an accident. Many states do periodic random checks of drivers for proof of insurance. If you do not have coverage, the fines can vary by state and can range from the suspension of your license, to points on your driving record, to fines from $500 to $1,000.
If you drive without Westlake Village insurance and have an accident, the fines will probably be the least of your financial burden. Your car, like your home is a valuable asset you use every day. If your car is damaged in an accident and you have no auto insurance, you will have no way to replace that vehicle unless you have a large savings account, and you don't really want to tap into that savings when auto insurance could cover the cost.
If you, a passenger or the other driver is injured in the accident, your auto insurance will pay those expenses, and help guard you against any litigation that might result from the accident. Insurance in Westlake Village insurance also protects your vehicle against theft, vandalism or a natural disaster such as a tornado or other weather related incidents.
Again, as with all insurances, your individual circumstances will determine the price of your auto insurance. The best advice is to seek out several rate quotes, read the coverage provided carefully and check periodically to see if you qualify for lower rates based on age, driving record or the area where you live.