Financial Wellness Minute: How to Shop for Insurance

Get smarter about your money with this Financial Wellness Minute. I'm Jackie Formo, manager at Mid Minnesota Federal Credit Union Fergus Falls. Most people only think about insurance when there is an accident or injury. But taking the time to get the right insurance coverage at the right cost can benefit you all the time. Here are some steps to take:

1. First, gather the information you'll need for a quote.
   • Start with your existing insurance documents.
   • For a new car, truck, boat or camper you'll need model information, who will be driving and their driving history.
   • For a new home or cabin the purchase agreement will have most of your information.
   • For health or life insurance you will need more personal information, such as health history.
2. Once that is pulled together, comparison shop insurance companies.
   • Contact both major insurance carriers, but also independent insurance agents who can check several carries at one time.
3. Provide each company the same information, so when you get quotes back, you are comparing apples to apples.
4. Finally, you will be armed with quotes, and can determine which is best for you.

If you are looking for help or have some questions, feel free to reach out to The Insurance Office at Mid Minnesota Federal Credit Union. Want to know more about insurance or have a weekly financial wellness tip sent to you? Sign up below or, contact your local Mid Minnesota Federal Credit Union Office. Sign Up for a Weekly Financial Wellness Tip Mid Minnesota Federal Credit Union is federally insured by the NCUA and we are an equal housing lender.