When times get tough, and our wallets are looking a little thin on cash, we often look to get very creative in saving money. When skipping a morning coffee isn’t enough, sometimes we start cutting out purchases that are very valuable to our safety. This is counterproductive and will do more harm than good in the long run.
Buying smoke detectors and fire extinguishers for your house is an essential part of safety and protection. Don’t skimp on emergency items like these. You should also make sure you think about buying a life insurance policy so your family isn’t left with no money in case you aren’t there anymore.
Driving without insurance is never a smart thing to do. We’ll talk about how you can get the most affordable auto insurance that also protects you and your family from harm when you get behind the wheel.
#1 – Fire Preparedness
People never think a fire is going to happen in their home or on their property, and it means they often ignore the safety precautions that need to be taken in case of one. Most homes come with smoke detectors, but if they go out it’s important to replace them. You can get a smoke detector for as low as $55 at places like Home Depot.
Then there’s the issue of whether you are knowledgeable about replacing them. Many people have to call a repairman or a handyman to replace smoke detectors. If you go through the store that you bought the detectors from, you might be able to get a better deal.
Don’t try to replace them yourself if you don’t understand how to. This could lead to poor results that are similar to not having smoke detectors at all. It can get very expensive to replace smoke detectors, but you need to.
If you are someone who cooks a lot inside, or you use a lot of appliances on your hair like blowdryers, it’s even more important to have good fire preparedness items and knowledge of safety procedures in case of an emergency.
If you celebrate New Year’s Eve or Independence Day with fireworks, you also need to have fire extinguishers in case of disaster. Never put off fireworks unless someone is there with you who has experience doing so.
#2 – Auto Insurance
Auto insurance is similar to fire safety equipment in that some people think they won’t ever need it, so why spend money on it? This is a very ignorant attitude to have, and it’s even illegal in many states to not have auto insurance.
You always need to look into what type of coverage you need depending on your situation. If you don’t drive very much, maybe just get basic liability coverage. If you are someone who drives hundreds of miles a week, you should look into comprehensive coverage so you can file a claim if anything bad happens in a parking lot or in front of your place of business.
Parents need to decide when the right time is to get auto insurance for their teen. Young people are at higher risk for insurance companies, which means their rates will typically be higher. It’s even more vital for parents to get great coverage for their kids, though, because they are inexperienced. You want them to be protected in case of an accident.
If you are worried more about the financial side of things, paying out of pocket for expenses that happen during a car accident could result in massive issues for your financial security. You could accumulate thousands of dollars in medical bills and repairs on your vehicle.
If your car is totaled, and you don’t have insurance, you’re going to have a hard time finding the money for a replacement car or truck.
#3 – Life Insurance
Life insurance is a depressing purchase for a lot of people. They think it means they are going to die soon, but in reality, it’s a vital buy that will protect their loved ones just in case of an emergency. If you are young and healthy, you can get life insurance for very cheap prices.
If you have a lot of health concerns, you need to evaluate how you can change the choices you make in life to become healthier. Eating right, doing home workouts to stay fit, and not smoking are big things health insurance companies appreciate at any age.
Life insurance is probably not necessary for people who aren’t financially responsible for children or a spouse. It’s there to protect your loved ones and give them a financial security net in case anything bad happens to you.
Another way you can go about protecting your family if you can’t afford any life insurance is to create a savings account the second you have children, and put a little bit in there every day. Even $5 daily will lead to thousands of dollars in savings across decades.
#4 – Security Systems for Your House
Security systems, whether they are just an alarm or a bigger setup, are something every family should think about, especially if they live in an area with a high crime rate. You need to be alerted in case someone breaks in during the night. It makes it helpful for the authorities to track down the criminals, too.
Try to find the best rates on security systems by asking around at many retailers. Lowe’s and Home Depot have people who can give suggestions on the best systems for your house.
Make it easier to stay safe by locking your doors and windows every time you leave. Never leave young kids unattended in your home without a babysitter. Try to think about all of the ways you can stay safe, and don’t leave any idea unturned.
Hopefully, you can see that there are sacrifices that have to be made in the present to protect yourself from future damage in life. It may seem counterintuitive to spend money on things like insurance and fire safety when you have never gotten into a car accident or had any fires start in your home, but that doesn’t mean they never will.
If you have kids, it’s even more important to take these steps to protect your family.
Shawn Laib writes and researches for the auto insurance site, AutoInsurance.org. He wants to help people understand how to protect themselves at home and on the road.
