Insurance… A Little Knowledge Goes a Long Way

Divorce is an emotionally draining and confusing period in one’s life. For many women it is the first time that they are thrust into having to handle business matters for the home. Insurance is one of those items that will land on one’s lap and for many it will look like gibberish. The first thing that should be done is to ask friends if they are happy with their agent. If so, ask for the agent’s contact information. You want to find an agent who will take the time to educate you. You want someone who has knowledge and compassion and who isn’t trying to make a fast dollar, but who sees you as a long term relationship. There are many subtleties with insurance policies and companies so you want to understand what you are buying. You don’t want to be pushed into a quick sale for the agent and end up very sorry in the event of a claim. What follows are some key points that you should know. Home, renters, condo/coop policies are all “packaged” with protection for your things as well as with liability coverage in case you are sued for negligence. Even if you are a renter, you definitely need liability protection. If someone gets injured in your apartment or rented house, you and the landlord will most likely be sued. The liability portion of the policy pays for defense costs up to the policy limit, whether or not you are found to be negligent. It is usually a small incremental cost to increase the liability limit, so don’t be afraid to start with a quote at the $500,000 level. While there are variables with insurance policies, and individual circumstances, the best thing that you can do for yourself is to have a little knowledge before you call an agent, be clear about your situation, and only buy from someone who takes the time to educate and guide, and who you feel will be there for you to help with ongoing needs and, of course, in the event of claim. Linda Schwartzman is an Insurance Sales Executive at the John M. Glover Agency. She has been in the insurance business since 1984. She is divorced and remarried. Many of her clients are divorced women whom she helps with their insurance needs. For inquiries she can be contacted at lschwartzman@johnmglover.com 203-956-2480 ( direct number