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Advice, Real Life

Adulting 101: Things to Consider when Shopping for Insurance (+ a video!)

This is a sponsored post written by me on behalf of Nationwide Mutual Insurance Company. I purchased my own insurance at normal prices and all opinions are 100% mine.

Insurance. It’s something everyone needs, but you probably won’t hear your friends strike up a conversation on the topic at a bar on Saturday night. When I graduated college and started my first job in the real world, I knew nothing about insurance. Literally, nothing. And looking back, I really wish I did.

If you’re in the same boat and don’t even know where to begin, you’ve come to the right place. I’ve asked a lot of questions and learned some valuable lessons the hard way. Scroll below to read some of the tips I’ve gathered over the past few years:

DETERMINE WHAT YOUR NEEDS ARE

Things happen. Fender benders and break-ins and trips to the emergency room happen. That’s why we have insurance. It protects us if and when we end up in these types of situations.

When shopping for insurance, it’s crucial that you find the right plan that will cover you when you need it to. A lot of times, people go with the plan that’s the least expensive, but if you don’t have adequate coverage, this could end up costing you more.

WHEN IN DOUBT, SAY YES TO RENTERS INSURANCE

Peace of mind. It’s a beautiful thing. And when it costs roughly $15-$22/month (depending on the value of your belongings), it’s a no-brainer. I’m talking about renter’s insurance. Something I thought I didn’t need when I moved into my first apartment, but after most of my closet was ruined after a sudden stream of water leaked from my ceiling, I quickly realized I made a major mistake.

So, what do you need to know? Here’s the 411: Most renter’s insurance is on a “named perils basis” which typically covers things like fire, vandalism, wind, hail, theft, and smoke damage. A Special Form, also known as “all risk” policy can protect you against additional perils than those provided under your standard policy, for an additional premium.

You will want to consider adding replacement cost coverage. Without out this, your belongings will only be covered for their depreciated value. With replacement cost coverage, your belongings will be repaired back to it’s current condition or replaced with a new, similar item.

You really never know what can happen, so if you ask me, $15-$22/month is well worth the cost.

GO WITH A COMPANY THAT LISTENS TO YOU

A couple months ago, I had the opportunity to attend one of Nationwide‘s Member Connections meetings at Coffee Connections in Hilliard. I didn’t know this at the time, but Nationwide has been hosting these meetings for over 60 years. The core mission of the Member Connections meetings is to give Nationwide members the opportunity to provide honest feedback and build relationships with other members and Nationwide leaders. It’s actually a really great idea when you think about it. And it made me wonder…why aren’t more companies doing this?

First things, first. I loved that the event was held at a local coffee shop. The atmosphere was so relaxed, and I had the chance to grab coffee and meet with other members of the community and people who work at Nationwide. It was a great way to start the morning before I went to work.

One of the key takeaways I learned from my experience is this: it’s so important to go with a company that listens to you. Prior to this experience, I thought of insurance companies as these giant, faceless corporations with long customer service wait times. My entire view of them changed that morning. I had a voice. I had coffee with people who have voices too and can implement change within the organization. They were receptive to my ideas. And I left the event feeling energized and excited. Everyone wants to feel heard, and Nationwide really listens.

After the event, I had the opportunity to sit down with the team and share a little more about my experience. Take a look!

 

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Feature image by Erika Gene Clark Photo

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