Build on a Solid Foundation

There is not a "one size fits all" answer to this. The easiest way to address this is to compare your assets to what your current liability is. If you are a homeowner, you always want your liability to be higher than what your personal assets are. Your assets include retirement funds, personal property, wages and/or business income, and any other monetary values including future earnings. If there is an accident or damage that is your fault, you always want your liability limits to be of more value than your personal assets.

Most states require a minimum amount of auto liability to pay for damage and/or bodily injury if in an at-fault accident. In order to purchase a home, mortgage companies require home insurance to provide coverage for the home rebuild cost in the event of a partial or total loss. But, more than this, insurance protects your finances, both present and future finances from being at risk of loss, due to an at fault claim. Accidents happen - but insurance can drastically lessen the effects of the financial responsibility to recover the loss.

Absolutely! When you are looking at what kind or how much insurance you need (home, auto, life, health, or Medicare) you must feel confident with the decision you are making. And that means feeling comfortable with asking all the questions and reviewing your options. At Stonestep Insurance NW, we prefer to not only have these consultations with new clients, but also annual check-ins with our existing clients. Life has many seasons and your insurance portfolio will change as your circumstances change.