How to Buy Insurance: Home, Auto and Life Insurance Buying Tips

If you're buying insurance for your car, home or life, you better make sure that you get the best kind for you. To jump to a specific topic, click on it below:
00:00 - What Insurance You Should Have
00:28 - Car Insurance
1:30 - High Deductibles vs. Low Deductibles
2:03 - How to Buy Car Insurance
5:13 - Where To Buy Car Insurance
6:09 - Homeowners Insurance
7:36 - How to Buy Homeowners Insurance
8:28 - Liability Coverage for Home Insurance
9:28 - Life Insurance
10:14 - What is Term Life Insurance?
11:02 - Where To Buy Level Term Life Insurance
11:48 - Permanent Life Insurance Policies
13:22 - Whole Life Insurance
13:58 - How to Choose a Life Insurance Company

[anon]

Being an adult is complicated. Thanks for making things a little more clear lol

[Atlassian.]

This is good stuff. None of the other financial channels that I've found really talk about liability. People are overly optimistic.

[peggywalker]

Finding the best homeowners Ins company

[zino]

Great video! Except I am a life insurance broker and would recommend using me or another broker in your area for life insurance, not one of those online companies! You’ll get more personalized service which I think people still like and desire. We have access to non-med term life insurance. Thx Clark, love your content, I have been following for nearly 10 years!

[erlynbucio]

Thank you so much this help me out, what insurance do you have?

[couponuser]

The one drawback with term life: rates toward the end of the term are outrageous. Also, once the term ends that's it. Once it expires, you're left with no insurance and almost no options to obtain coverage. With whole life, it could be the main source of income for people that don't have a 401K.

[kristensauder]

What is a reputable term life ins policy provider (with and without medical exam req) with a guaranteed payout upon death.

[mattcat]

Personal injury attorneys might just have been part of why auto injuries carry so much liability.

[Teleman]

I cannot stress enough about getting a bunch of liability for your car insurance. Get as much as you can afford. I was in a wreck, luckily I had $150, 000 in liability insurance. They were happy with that and I didn't have to pay anything out-of-pocket..

[giovanniandresmastro]

I would love to discuss with you more about universal life insurance. Seems like a great option if the agent sets up the policy the correct way.

[timothythompson]

Thus guys advice on home and auto insurance is good. His advice on life insurance is not good. See a professional life insurance agent to advise you. This is the problem with social media. Anyone can get on and pretend to be an expert

[emperorkrulos]

Good video. Very informative. Im going to go cry into my pillow for a while.

[heithdmohler]

Amica is WAY .. WAY to expensive. I can't believe you'd recommend them. 😢

[centralgroupllp]

With that annoying flickering thing behind him. Its hard to watch..

[missireason]

As an auto liability adjuster, I CRINGED when Clark suggested a 1k deductible for most and for renters to go for state minimums on coverege.

Stats show that over 80% of Americans can not afford a $400 emergency, so a 1k deductible would be crushing to these people.

Also, no one (in my professional experience) should go with state minimums (which is most often 25k).

Ex. 1 (why to choose a deductible you can actually afford).
A retired widow is rear ended by a teen who has no insurance. Widow's Uninsured policy is used to repair her vehicle, but she has a 1k deductible. To get her vehicle repaired she must pay the 1k deductible, which was a lot on her fixed income.

Whenever you use your insurance, your deductible applies. I have found that many people don't realize this. I have been cursed out many time on this very issue. Fault (liability) has nothing to do with the deductible. Think of the deductible as the key to a door to your insurance policy. Now in some cases where the other party is at fault at 100%, large companies who want to have a good reputation will refund your deductible, but this is not every time and is often weeks after you paid.

Ex. 2 (why the state minimums are not advised).
Woman turns her head to check on her toddler in the back for just a few seconds. Traffic slows in front of her, bam, she rear ends a 2016 Corvette with no braking. It is valued at 41k. Once her property/liaibility limit of 25k was reached the insurance company was done. She and her husand must come up with the difference. They are putting a second mortgage on their house to pay the remainder (41k-25k).

I have many examples of why people should not choose a deductible unless they can afford it, and why state minimums are dangerous.

Clark is wonderful for consumer protection matters, but insruance is not in his wheel house. I know he means well, but his advice in this video on auto insurance needs a tune up (pun intended)!

As an auto liability adjuster, I was trained over 3 months, 40 hours per week. If I were to move to another line, I would need additional training, and have to pass a licensure exam for that line.

Folks, please don't base your decision to drop liability on just the value/age if your vehicle. Yes, the figures Clakr gace make sense (cents) from a money point of view, but not a practical point of view.

Ex.3 (why dropping collision/comp is not always a good idea)
Young man has a 12 year old truck. While parked at a strip mall it is hit and the other driver runs. The strip mall has no cameras that record (just a live feed). No witnesses to identify the at fault party. A part if the damage is to the front that cracks a headlight and knocks off the mirror. This makes it ilegal to drive. This is the young man's only vehicle. He uses it to go to college and to work.

My advice, never drop collision/comp on a solo vehicle, no matter the age or value.

I have not met Clark, but if I ever do, I believe he will be a genuniely nice guy. However, his advice on auto insurance in this video has several errors, in my professional opinion.