Major life events - like buying a home or having a baby - have the potential to affect your insurance needs. What insurance moves should you make at every stage of your life to make sure your coverage doesn't miss a beat?
Why: A new home is a big investment, and homeowners insurance will help protect it from things like fire, weather damage, theft, vandalism, accidental damage and more.
How: Get a professional to give you an idea of how much insurance you'll need. You will want to insure your new home for 100% of its estimated replacement cost - not market value.
Life Event: New Baby
Insurance Need: Increase life insurance
Why: Having a baby is just the start of a huge financial commitment - increasing your life insurance will help you feel more secure about your baby's future should you or your partner pass away unexpectedly.
Why: Running any kind of business - from a storefront to a one-person operation - means you can be at risk for a lawsuit. Business insurance protects against large costs associated with legal fees, settlements and more.
How: Your State Farm agent will help you determine the kind of coverage your business needs.
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