Why You Need Insurance

Types of insurance you need

The question of why you need insurance boils down to this: It helps you protect the life you have built. You need it to protect your life, your ability to earn income, and to keep a roof over your head. You can insure almost anything you can think of (celebrities have been known to insure body parts!) but certain things absolutely need to be properly insured. Insurance helps you:

• Own a home? Mortgage lenders need to know your home is protected.
• Drive a car or truck? Few of us can afford the repairs, health care costs and legal expenses associated with injuries and collisions without coverage.
• Maintain your current standard of living, in the event you become disables or contract a critical illness.
• Cover healthcare costs, such as your monthly prescription drugs, vision and dental care, and other health-related items.
• Provide for your loved ones, in the event of a death.

Life Insurance

Let’s start with life insurance. It helps you protect the people who matter most in your life. Knowing how much you need can be determined by budgeting 1% of your annual income before taxes. Everyone has different needs though and a licensed insurance agent can help you decide what makes sense for your family.

Automotive Insurance

If you own a vehicle, you need to have it insured. An easy way to save on car insurance is to consider bundling. By packaging your home insurance with your auto insurance, you can typically get a discount. This also works with renter’s insurance as well. Always check out what discounts may be available to you, many employers, alumni associations or professional associations have discounts to help you save.

Homeowners Insurance

For most people, their home is their biggest asset. It only makes sense to cover it should the unexpected happen. Homeowners insurance covers you against losses or damage from fire, weather, theft and more. Another benefit is that it also protects you from liability if an accident happens on your property.

Homeowners insurance can be quite costly but there are ways to reduce the amount you pay. Some simple changes such as using one insurance company and bundling policies together, installing an alarm system or raising your deductible may provide you with some discounts to make insuring your home more affordable.

Did you know that as an Oklahoma Central Credit Union member you may qualify for exclusive discounts? Learn more about TruStage home insurance for credit union members.

Health Insurance

Although the federal open enrollment period for health insurance may have ended, major life changes could qualify you to buy health insurance now:

• Family changes such as getting married or the birth/adoption of a baby
• Loss of health coverage from an employer

Events such as these generally mean you have 60 days to enroll in a health plan. Through your Oklahoma Central membership and our partnership with TruStage, you have access to GoHealth where licensed insurance experts are ready to confirm if your event qualifies. Learn more about the TruStage health insurance program.

Renters Insurance

Renters insurance is a policy that protects the valuables you own. It doesn’t cost a lot to protect them against loss, damage or theft. Learn more about TruStage renters insurance.

As a member of Oklahoma Central, you may qualify for exclusive discounts on home, auto, and life insurance. Learn more.