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The Smart Person's Guide to Getting Started with Insurance

How to take control, save money, and protect what matters most

Welcome to the Wallet Wizard Insurance Hub — your starting point for simplifying insurance. Whether you're protecting your car, your home, your health, your life, or your dog who thinks he's human, this guide will show you how to get started the smart way.

No jargon. No fluff. Just what you need to know to make confident choices.

Auto Insurance: Don't Overpay for the Same Coverage

What to Know:
Auto insurance premiums can vary by hundreds for the same driver. The #1 mistake? Not shopping around.

How to Get Started:

  • Gather basic info (driver's license, VIN, current coverage).
  • Use a comparison tool to check 3–5 quotes.
  • Know your state’s minimums, then add coverage you actually need (liability, collision, uninsured motorist).
  • Re-shop every 12 months or after major life changes.

Explore more: Read the full Auto Insurance Guide →

Life Insurance: Protect People, Not Just Income

What to Know:
Life insurance is peace of mind for your family. But most people wait too long or overpay.

How to Get Started:

  • Choose term over whole (most of the time).
  • Get 10x your income or enough to cover key expenses (mortgage, college).
  • Use a policy with level premiums and a locked-in rate.
  • Shop multiple quotes — prices vary wildly for the same coverage.

Explore more: Read the full Life Insurance Guide →

Homeowners Insurance: Protect Your Biggest Asset

What to Know:
Not all policies are created equal. A cheap premium might leave you exposed in a real emergency.

How to Get Started:

  • Know your home’s rebuild cost, not market value.
  • Understand what’s not covered (floods, earthquakes).
  • Add riders for valuables or high-risk areas.
  • Bundle with auto insurance to save 10% or more.

Explore more: Read the full Homeowners Insurance Guide →

Pet Insurance: Yes, It’s Worth It (If You Do It Right)

What to Know:
Vet bills can crush your savings. Pet insurance can be smart protection if you understand the tradeoffs.

How to Get Started:

  • Get it when your pet is young and healthy (lower rates, better coverage).
  • Look at what’s covered vs excluded (pre-existing, dental, routine care).
  • Choose plans with high annual limits and fast claims processing.
  • Read reviews. Not all providers are created equal.

Explore more: Read the full Pet Insurance Guide →

Final Word: Insurance Isn’t the Goal. Freedom Is.

Insurance isn’t about fear. It’s about control.

Use it to remove financial uncertainty, protect your income, and give yourself the confidence to focus on what actually matters.

Bookmark this page. Come back when you're ready to go deeper into each topic. And if you're ready to save now?

*See full terms and disclosures at sofi.com/banking. 11x faster based on FDIC monthly savings account rate as of 06/20/2023. Account fee policy is subject to change at any time.

Direct Deposit Promotion begins on 01/01/2023 and will be available through 12/31/23. SoFi members with direct deposit can earn up to 4.50% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum direct deposit amount required to qualify for the 4.50% APY for savings. Members without direct deposit will earn up to 1.20% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. Interest rates are variable and subject to change at any time. These rates are current as of 08/02/2023. There is no minimum balance requirement. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet.

*The Rate Chopper: Approval and loan terms vary based on applicant qualifications. Not all applicants will qualify for the full amount or lowest available rates.

NerdWallet Compare, Inc. (dba The Rate Chopper) NMLS ID# 1617539

http://www.nmlsconsumeraccess.org/

CA Fin. Lender loans arranged per DFPI, Fin. Lenders Lic #60DBO-74812

*SoFi members with direct deposit can earn up to 4.50% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum direct deposit amount required to qualify for the 4.50% APY for savings. Members without direct deposit will earn up to 1.20% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. Interest rates are variable and subject to change at any time. These rates are current as of 8/2/2023. There is no minimum balance requirement. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet.