How Your Insurance Needs Evolve Through Life Stages_ Part 1

Insurance is an important aspect of managing risks and providing financial security for yourself, your family and your assets. As life progresses and your circumstances change, your insurance needs will also change. Understanding the different life stages and the associated insurance needs is essential to ensure that you are adequately covered. 

Each life stage brings with it its own challenges and opportunities and with that, different insurance needs. In the first part of this guide, we discuss major life points that might warrant different insurance needs for you.

1) Buying a Car

Buying a car is an important life decision that comes with a wide range of financial implications. When considering a car purchase, it is important to take into account the costs associated with the car itself, as well as the insurance premiums that will be required to cover the vehicle. As your life evolves, your insurance needs will also change. 

When you are younger, you may be able to get away with a basic auto insurance plan. However, as you move through life stages, such as getting married, having children, or buying a home, you may need to increase your coverage to provide greater protection for your family and property. 

Additionally, you may need to consider adding additional coverage to protect yourself from the potential financial losses that can occur from an automobile accident. 

2) Buying a New Home

Buying a new home is a major life event that comes with a lot of responsibilities. It is important to understand the various types of insurance needs that come with buying a new home. 

Homeowners insurance is a must-have to protect your property and possessions from unexpected events like fires, storms, theft, and liability claims. It is important to make sure that your coverage is sufficient to replace your home and its contents. Additionally, if you have a mortgage, your lender likely requires you to have homeowners insurance.

3) Home Renovation

Home renovation can be an exciting time for any homeowner, but it’s important to consider the potential impact it will have on your insurance needs. At the very least, you’ll need to review your policy for any additional coverage that may be required to cover the changes. 

If you’re carrying out major renovations, such as extending or adding a new room, you’ll need to make sure your insurance will cover any additional costs associated with these changes. If you’re planning to add a pool or other luxury item, your policy may need to be updated to provide extra protection. 


Insurance needs can vary depending on a person’s life stage and can change over time. It is important to understand the different types of insurance available and determine which type is best suited for each individual’s needs. In the second part, we’ll go over some more insurance needs.

Kirkham Insurance has every kind of insurance for every lifestyle. We offer auto, home, and life insurance no matter what stage in your life you are in. Get in touch with us today to learn more.

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