Benjamin Franklin famously quipped that nothing in life is certain except for death and taxes. Modern consumers should add insurance to that list. While Santa Fe insurance is a fact of life for most people living in the Land of Enchantment, New Mexicans don’t need to purchase every type of coverage. Here are the five insurance policies everyone should have.
1. Health Insurance
As most people know, the Affordable Care Act requires most people to have health insurance. Legal mandates aside, safeguarding against a health emergency and covering routine medical costs is essential.
2. Car Insurance
Most states require motorists to carry automobile insurance.
3. Homeowner’s Insurance
Every homeowner should have property insurance. Not only do mortgage agreements generally require it, policies protect what is usually most people’s most valuable investment. Likewise, renters should carry rental coverage to protect their property and visitors from harm.
4. Disability Insurance
Serious injuries and illnesses can keep hardworking New Mexicans out of work. Disability insurance covers lost wages.
5. Life Insurance
Anyone who supports a family should have a life insurance policy. If a person dies, this coverage ensures that loved ones have the financial support they need to carry on.
For most New Mexicans, these five policies make good sense. By working with a skilled Santa Fe insurance agent, anyone can decide which policies provide sufficient protection.