How much insurance costs should be against total income?

Question

How much insurance costs should be against total income?

Answer 1

Your question is not very specific.  I have heard that up to 5-10% of your income should be used for Insurance.  This may be considered for premiums for all your auto and home, but would most likely also include, health and life coverage.  This answer is loaded.  I would shop your insurance make certain that you purchasing coverage not a price.  I spend about $150 per month on insurance but my employer covers all my health care premiums.  If they didnt I would probably have to add 600-800.  Hope that helps.

Answer 2

insurance cost is not measured by how much money you're currently making but how much assets you're trying to protect.

there's no real cost measurement really.. it's just how much money are you willing to spend for the amount of protection and/or service and/or piece of mind.

Answer 3

Is this a question?

Insurance isn't based on your income.  It's based on the projected likelihood of payout.

Answer 4

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