If you are without insurance, it could cost you more than just money. Everybody should have a security blanket of some kind when it comes to medical costs, and having insurance is an added layer of protection against whatever may come your way. One accident or incident can be a life-changer, thus if you’re hesitant to gain coverage due to the cost of insurance, it’s good to know what the average premiums and plans may be and what they cover. Absolute Best Insurance in Palm Beach County has been serving our community with insurance coverage for over ten years.
Types of Insurance
No matter your background, income, or what you hope to achieve in your lifetime, there are certain types of insurance you need no matter what comes your way. These typically include auto insurance, homeowner’s or renter’s insurance, and health insurance. You may even be considering term life insurance as well, if you are married, have children, or have others who depend on your income. Simply typing “insurance agency near me” may not get you the offers and coverage specific to your needs. Thinking about all these different policies and what you have to pay may seem daunting, but most coverages can be fairly straight-forward and don’t cost as much as you may think.
Insurance Costs
Take for instance auto insurance. Most policies on any type of insurance are going to be dependent on your own individual factors, such as driving habits, medical conditions, and others. Thus, if you are a relatively safe driver, your auto insurance won’t be as high as someone who gets into a fender bender once or twice a year. Nationally, the average U.S. driver will spend about $1,548 on auto insurance a year, which comes out to about $129 per month. Insurance companies will take into consideration your driving record, your job, your marital status, your age, and also where you live, as that’s a huge factor into responsible driving.
For most homeowners, their insurance is going to be included in their mortgage payment, so there’s less planning involved when that bill comes in. You will still want to ensure your mortgage payment only compromises about 25% of your take-home pay, which will enable you to pay for all your bills and stay on top of any debt while still having some extra funds for activities. Again, location plays a big part on how much your homeowner’s insurance will be, as densely populated areas are most likely going to be more expensive than rural areas. If your state happens to have more natural disasters, such as tornadoes and hurricanes, then your insurance will most likely be higher as well. That being said, the average annual homeowner’s insurance premium is $1,192, or about $100 each month. And if you happen to rent, insurance is typically around $15 a month, which is almost criminal not to have when it’s so cheap. Without renter’s insurance, you’re on your own in replacing everything in the case of a fire or burglary, thus it’s definitely a win-win for you to invest that amount every month into your belongings.
Insurance Agency Near Me
And lastly, health insurance shouldn’t be taken lightly. Any small health issue can always turn into something worse, landing you in the hospital, potentially for days before you’re back on your feet. Without insurance, you’d be footing that entire bill yourself, which could be in the thousands. The average annual premium for single coverage in 2019 was $7,188 per year, or $599 per month. And if you have a family, that premium will translate into an average of $1,714 per month, or nearly $21,000 per year. Thankfully, with the help of insurance offered through your workplace, these costs will be dramatically reduced as your employer is most often footing the bill. For those who get health insurance through work, the average employee pitches in about $103 each month for single coverage, or around $500 for family insurance, and your employer pays the rest. Again, location will fluctuate your premium costs, but other factors play a bigger part into it, such as your age, whether you smoke, if you are seeking family coverage and what specific plan you are going with.
Contact Us
Are you ready to invest in the best coverage despite the insurance costs? Absolute Best Insurance in Palm Beach County can help you navigate all the insurance plans to find the one that works the best for you. No more searching for “insurance agency near me”, we got you covered. Call us today!