Cornhuskers know how to make the word "sellout" sound good. Nebraska football fans have been selling out Memorial Stadium for nearly 50 years. It's no question Husker football fans are committed to their team and most residents of Lincoln will tell you they've been lifetime fans. With five national titles under its belt, who wouldn't be? Most of the time commitment is a positive asset, but you could be missing out on hundreds of dollars in savings if you've been committed to the same Lincoln insurance company without examining its competitors. Auto and life are popular Lincoln insurance options. Here are few things to think about when assessing your insurance needs.
Preserve Your Coverage
Nebraska was the fourth least-expensive state to insure a vehicle in 2007, according to the Insurance Information Institute, averaging $554 annually. Lower congestion and low occurrences of vehicle theft are contributing factors as to why driving in Lincoln is so reasonably priced. To drive legally in Nebraska you are required to purchase minimum liability insurance in the amounts of $25,000 per person per accident, $50,000 per accident bodily injury, and $25,000 for property damage. But it's mindful to increase your liability coverage or purchase a full-coverage policy to safeguard you in the event you are involved in a serious accident. You have nothing to lose by gathering a handful of Lincoln insurance quotes to get a better understanding of how much you would be paying for additional coverage. Besides, compared to the majority of the nation, you have a little more wiggle room when it comes to spending money on auto insurance.
There are things to reflect on before purchasing a life insurance policy. Consider what financial baggage your family would have to handle immediately after your death such as a mortgage, car loan or funeral bill. Think about your family's future and how you can help pay for things like college tuition or your spouse's retirement. After that, choose a policy that fits your needs: term life, whole life, universal life or variable life insurance. Once you've established your needs, you need to be clear about whom you want to name as a beneficiary.
Choosing Your Beneficiaries
There are two types of beneficiaries: primary and secondary. The primary beneficiary will collect the policy benefit after your death. The secondary beneficiaries will collect if the primary beneficiary dies first. You need to be specific when naming the beneficiaries on your Lincoln insurance policy. For example, use the beneficiary's legal name, as in "Elizabeth Ann Jones" rather than "wife." If you want to leave money for your children, you need to decide if you would rather allot the benefits only to them (per capita) or if you'd like to ration the proceeds to your children and your children's family (per stirpes). If your children are minors, however, you will need to appoint a separate beneficiary as most insurance companies will not allow minors to receive payment directly. In this case, you may opt to designate a trust or people you have faith in as the beneficiaries.
Save With Lincoln Insurance Quotes
Keep in mind that most insurance companies offer discounts to those with good credit scores and to people who combine their insurance policies. You'll have a better understanding of your insurance options by gathering a handful of Lincoln insurance quotes. Using a free service like NetQuote will take you to the homestretch in the commitment to savings.