Robert Brokamp

speaker

4,580 appearances 41 recordings 3 series first heard Oct 2025 last heard 2d ago

Robert Brokamp’s voice in public audio — every appearance, attributed to the second.

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recordings per month · last 12 months

Recordings per month over the last 12 months — 41 in all, peaking in Sep 2026 with 5.

Appearances

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Motley Fool Hidden Gems Investing · Insurance-palooza! All You Need to Know to Protect Your Income and Wealth · 1 Aug 2026 podcast

But you can do a few things to lower the costs, such as choosing a longer elimination period, which is the time between when you become disabled and the time the policy pays out. matched

Then just you have to make sure that you have a good size emergency fund to cover that time period. matched

You mentioned the employer-provided coverage, very valuable. matched

It is important to understand whether it has a Social Security offset or not. matched

So it might say, like, I'm going to cover, this policy is going to cover 60% of your income. matched

But if you're going to get 15% of your income from Social Security, we're only going to do 45%. matched

So you have to understand how that interacts with Social Security. matched

And then finally, if you ever have the option of paying premiums with pre-tax or after-tax money, maybe because you're self-employed or your employer might actually give you the option, most experts recommend that you pay with after-tax money. matched

That way, the benefits will be tax-free. matched

All right, so we just talked about the insurance that protects your income, but you can also buy it to protect your stuff if something happens to it. matched

This really comes down to auto insurance and then homeowners renters insurance. matched

And both have become a lot more expensive over the past five years. matched

So it's a good time to evaluate not only how much you need, but also whether you can get a better deal somewhere else. matched

Let's start with auto insurance. matched

Amanda, what do fools need to think about? matched

Yeah, that's all good advice. matched

And this is a good time to point out that insurance in general can vary by state. matched

And this is definitely the case with auto insurance. matched

So definitely take the time to understand what's required in your state, including whether you live in a no-fault state. matched

If so, you'll likely be required to carry personal injury protection coverage to pay your own medical bills regardless of who causes the accident. matched

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