5 Types of Insurance a Millennial Should Have

When you’re trying to figure out how to budget your life, it seems like a no-brainer to lower or all together leave out insurance in order to save money. However, when push comes to shove, you’ll be glad you’re protected. A monthly payment may seem like a drain to your paycheck, but the alternative is an exorbitant bill down the line!

If you’re concerned about cost, the best money saver is shopping around, and if you are a client of Stromsoe Insurance Agency, you’ve already made one huge step towards savings! The beauty of using an independent insurance agency, is that we do the shopping around for you.

Here are the 5 types of insurance every millennial should have:

#1 Car Insurance

While car insurance is required, the amount of coverage you carry is a great deal up to you. There are 3 types of auto insurance:

  • Liability
  • Collision
  • Comprehensive

Liability is often the minimum insurance you need to be a legally insured driver, but collision and comprehensive are where you have some freedom. Collision involves coverage for repairs to your vehicle that need to be made as a result of a traffic accident, no matter who is at fault as well as property damage and any damage to the vehicle that is a result of collision with trees, buildings, etc. Comprehensive is coverage that includes replacement of the vehicle if it is stolen or damaged by natural disasters. While changing your collision and comprehensive can change your premium dramatically, it can also be the difference in your claims experience after an accident or theft.

Want to read more on how you can lower your car insurance premium? Check it out here.

 

#2 Renters/Homeowners Insurance

In short, tenants need insurance to cover their belongings. You, as a renter, will not own the building in which you live, and you are unlikely to insure that. On the other hand, the belongings inside your rental are likely important to you. One reason to have insurance for the tenants is to have protection for your personal property.

For example, renters could provide coverage in the event of:

  • A kitchen fire. A renters policy could help with the costs to replace items destroyed in the fire. If your place can’t be lived in while repairs are being done, renters insurance may also provide coverage for a place to stay, meals and related expenses.
  • A burglary. Renters insurance could help with the costs to replace the covered stolen items.
  • A guest falls and gets hurt. The personal liability coverage included in a renters policy could help with the payment of medical bills or other expenses related to the accident.

Take a look around before you decide you don’t have enough stuff to get lost in a fire, or what you have isn’t likely to get stolen. You might see more items that are costly to repair than you would expect. A smartphone, designer handbag, professional chef’s knife kit, new laptop are all widely used high-ticket pieces, for example, that you may have in your rental. How about antique china from your grandmother? Even the cost of replacing all of your clothes might cost you quite a dent.

 

#3 Flood Insurance

No home is entirely free from potential flooding. When a single inch of water in a home can cost more than $25,000 in damage, the difference between recovery and financial ruin can be flood insurance.

 

#4 Umbrella Insurance

Purchasing an umbrella policy is an inexpensive way to protect your financial future or established assets. Personal umbrella insurance kicks in when your base policy limit is not sufficient. It covers you beyond the limits of homeowners insurance, auto insurance, watercraft or other personal insurance policies.

 

#5 Life Insurance

Life insurance is about protecting the living and buys time and options when an income earner passes. If you have any dependents, life insurance will allow them to avoid making dramatic decisions while they may not be emotionally ready to do so effectively. Life insurance policies can be very affordable and give financial security to your loved ones should you no longer be around to provide it.

Personal Auto Premium Relief Update April 18,2020

Your team at Stromsoe Insurance is thinking about you and your family. We hope this email finds you safe, well and healthy. We’d also like to share some great news about auto insurance credits coming your way.

All of us recognize the uncertainty and financial challenges you may be facing as the nation comes together to slow the spread of coronavirus. That’s why we’re thankful our insurance company partners are taking unprecedented action and offering auto premium relief to our clients. We’re so grateful for their empathy and partnership during this time.

And, our insurance companies are making it easy! You do not need to take any action – refunds will occur automatically. This week, the California Insurance Commissioner provided direction for insurance companies  to begin implementation of their relief plans.

Here are links that describe each company’s relief program in detail:

Please know we’re here to answer any and all of your questions, COVID-19-related or not.

Our entire team is here to help – even virtually from our home-based offices! You can still reach us any of these ways:

Phone at (951) 600-5751
Email at insure@siaonline.com
Website www.siaonline.com
Text: 951-482-8144

Be safe, and be well!

Mike Stromsoe and the Stromsoe Insurance team

October 2018 ISSUE OF THE PROTECTION COACH

The October 2018 update of Mike Stromsoe’s The Protection Coach® has arrived.  This issue is jam-packed with all the latest news and tips for clients and friends of Stromsoe Insurance Agency.

The Protection Coach® –October 2018 (Click Here to Download)

Inside this edition..                                                                  

  • Workers Compensation
  • Perfect Recipe For Football Season!!!
  • Quick Tips:  Halloween Safety
  • Congratulations to Eric Lopez of The Inspectors Company Inc, our awesome Client of the Month!  Thank you for your continued business!

September 2018 ISSUE OF THE PROTECTION COACH

The September 2018 update of Mike Stromsoe’s The Protection Coach® has arrived.  This issue is jam-packed with all the latest news and tips for clients and friends of Stromsoe Insurance Agency.

The Protection Coach® –September 2018 (Click Here to View)

Inside this edition.. 

  • TIPS: Business Insurance
  • Who Doesn’t Love Cake?!?
  • Quick Tips:  Labor Day Safety Tips
  • Congratulations to Ernesto & Faith Pagulayan, our Awesome Clients of the Month. Thank you for your continued business.

Are You Our Next Winner…? Tune In To Find Out!

Mike Stromsoe and our awesome teammate Shauna Bell are ready to draw the next WINNER in our Inspire Happiness By Making A Difference in 2018 Referral Rewards Program.

Drum roll please…

Congratulations, Amy Ward!!!  We are so very grateful for all your kind referrals to our team!!!

You still have time to get YOUR name in for the Grand Prize drawing.  Make sure the person you refer mentions YOUR name.  **There is NO LIMIT to the number of times your name can be entered**

If you have any questions or comments, please just let us know.  You can reach our team at 951-600-5751 or email insure@siaonline.com.

What more can we do for you?

Gratefully,

Mike Stromsoe and the Stromsoe Insurance Total Protection Team

Are YOU Our Next Lucky Winner?!

Mike Stromsoe, The Insurance Doc, and teammate Gil Coronado are ready to draw the next WINNER in our Inspire Happiness by Making A Difference in 2018 Referral Rewards Program…

Drum Roll please…

Congratulations to Robert Emch, you are our next winner!!!

Our Total Protection Team would like to thank you for all your kind referrals to our team.

If you have any questions or comments, please just let us know.  You can reach our friendly team at 951-600-5751 or email insure@siaonline.com.

What more can we do for you?

Gratefully,

Mike Stromsoe and the Stromsoe Insurance Total Protection Team

Our Flag Day Celebration is LIVE!!!

Here at Stromsoe Insurance we are proud to be Americans!  Please join us in celebrating our brave men and women who fight for our freedom day in and day out.  As we remember everyday that freedom is not free, we display our flag proudly in as many ways as we can.

Our goal is to provide flags to those who need them, so local businesses and residents can showcase their American spirit.  The spirit doesn’t stop on the fronts of our homes or shops!  If you already have a flag, we want to see it on social media!  Use the hashtag #flagsfromstromsoeins.

From June 1st-June 15th stop in during regular business hours (Monday-Friday 9:00-5:00) to pick up your complimentary flag at Stromsoe Insurance.  (while supplies last)

JUNE 2018 ISSUE OF THE PROTECTION COACH

The June 2018 update of Mike Stromsoe’s The Protection Coach® has arrived.  This issue is jam-packed with all the latest news and tips for clients and friends of Stromsoe Insurance Agency.

The Protection Coach® –June 2018 (Click Here to Download)

Inside this edition..                                                                  

  •  Insuring Your Summer Toys
  • Newest Addition…Check it Out
  • Quick Tip:  Inside & Outside Maintenance Checklist
  • Congratulations to Jeff & Melinda Kushner of Pacific West Design, Inc, our Awesome Clients of the Month. Thank you for your continued business.

Are You Our Next WINNER in the Inspiring Happiness By Making A Difference Referral Rewards Program?

Mike Stromsoe, and one of our awesome Protection Coaches, Maritza Ganime are ready to draw the next WINNER in the Inspiring Happiness By Making A Difference in 2018 Referral Rewards Program…

Drum roll please…

Congratulations Kristalynn McDonald!!!

We are so very grateful for all of your kind referrals to our team so far in 2018!  Thank YOU!!!

What more can we do for you?

Gratefully,

Mike Stromsoe and the Stromsoe Insurance Total Protection Team

MAY 2018 ISSUE OF THE PROTECTION COACH

The May 2018 update of Mike Stromsoe’s The Protection Coach® has arrived.  This issue is jam-packed with all the latest news and tips for clients and friends of Stromsoe Insurance Agency.

The Protection Coach® –May 2018 (Click Here to View)

Inside this edition..

  •  Protect Your Skin This Summer
  • Types of Business Insurance
  • Quick Tip:  Summer Safety
  • Congratulations to Laura Bruno & George Hicks, our Awesome Clients of the Month. Thank you for your continued business.  Our Team is grateful for you!