Friday, August 3, 2012

Flood Insurance

Floods don’t necessarily have to be of epic proportions to cause catastrophic damage to your home. For instance, the National Flood Insurance Program reports that, on average, just two inches of flooding can cause $7,800 of damage to your home. When you compare the magnitude of the potential damage to the actual cost of flood insurance (usually only a few hundred dollars per year for most regions), not carrying coverage seems especially illogical. Your home, your memories, and your possessions are too valuable to go without flood coverage, and we can assist you in finding a policy with our complimentary referrals.

Condo Insurance

Condo owners have slightly different needs from homeowners or renters. Usually, condo dwellers own their units, which make them similar in a way to homeowners. However, like renters, condo owners have limited liability with regard to damage to their unit. Condo insurance addresses all of these needs, offering physical damage protection of the unit as well as liability coverage. Most condo associations define everything within the external walls of their unit as the owner’s responsibility, which is a nearly impossible financial burden to shoulder without a condo policy.

Other Homeowner Considerations

While most of the factors in calculating home insurance revolve around your dwelling, some have to do with you. Many insurance companies base their rates on demographics such as your marital status, sex, and age. Your credit score may also be used to help determine your insurance costs, so keep it as high as possible. Finally, the overall quality of your home may also come to play when your insurance company decides your rates. Do you have a new home that’s built to last with high quality materials? While you may be paying a pretty penny to actually own your home, your house insurance will probably less expensive than someone’s with an older and less expensive house.

How is Home Insurance Calculated?

Possibly the most important aspect in determining your house insurance is the condition of your home. Any problems your home may have could up the cost of insurance, such as damaged roofing, bad electrical wiring, or even a termite infestation. If there are any possible issues with your home’s condition, your best bet is to get them taken care of before applying for insurance. However, you can still make the necessary repairs after you have your policy, just alert your insurance provider so they can inspect and approve the work.
Other factors in your house insurance rates are the type of safety features installed in your home. If you have up to date smoke detectors and a decent alarm system, you could potentially save money on your insurance as these protect your home from damage and theft. Unfortunately for smokers, cigarettes are seen as a possible fire hazard and can increase your home insurance costs.
You’ve heard it before – location, location, location. You’re house insurance costs could be drastically affected by where your home is located. If you live in a city or state that is prone to natural disasters such as tornadoes, hurricanes, or even earthquakes, you can expect a higher insurance rate. Areas with high rates in thefts or other crimes often carry higher insurance costs too.

Homeowners Insurance – Protect Your Most Significant Investment

Homeownership is so much more than mortgage payments and tax breaks. Owning a home is also a source of pride, a rite of passage, and a solid investment tool. Homes require a substantial financial commitment on your part. With all of the money, time, and effort that you’ve poured into your home, it’s only logical that you would do everything you could to protect it.
With a home insurance policy, you will have the security of knowing that an unfortunate event would not leave you homeless and penniless. A tornado, fire, or other disaster may strike your home, but your homeowners insurance policy would protect your finances from devastation. Your policy would allow you to repair or rebuild your home and pay for your living expenses until your home was habitable again. Moreover, you enjoy the security of liability protection. If you were sued, your home insurance coverage would pay for your legal counsel and handle any judgments issued against you.
Have you ever wondered how your house insurance rates are determined by insurance companies? Believe it or not, insurance providers don’t simply charge you some arbitrary number, they have a specific formula and set of guidelines they follow in calculating your rates. Once you know how insurance rates are determined, you can figure out about how much a policy should cost you or get ideas for lowering your current rates if you already have a policy. Here are some of the typical factors companies use in coming up with your home insurance rates.

What to Look for When Shopping for Auto Insurance

For some getting auto insurance is a new experience and all too often people are not prepared to deal with the situation. Now is the time to take a minute and absorb some of the very valuable auto insurance information that can help save you time and money. Here are some terms you will undoubtedly come across when shopping for coverage:
  • Collision - Typically covers vehicle damage that is the result of an accident with another vehicle. Depending on who is at fault the insurance will cover the cost to fix your vehicle and the others vehicle or vise versa. There may also be a deductible associated with this that you may have to pay and the insurance company covers the rest, this cost can vary depending on the coverage.
  • Property Damage Liability - This is for the damage you or another driving your vehicle may inflict on another’s property.
  • Bodily Injury Liability - This coverage is designed for injury expenses that you, the policyholder, cause to someone else from the direct result of an accident involving your vehicle. The minimum coverage is set by the state, but more should be considered just in case.
  • Personal Injury Protection (PIP) - This is designated to injuries sustained to the policyholder of the vehicle or passenger within. Usually will cover medical payments, lost wages, rehabilitation, and in extreme cases even funeral costs.
  • Comprehensive - You should expect to be covered in a situation where you have suffered a loss or damage to your vehicle in an accident with something other than another vehicle. Such things as theft, vandalism, or even fire are covered under this feature.
It is important to protect your vehicle and know what you get when you are looking for cheap auto insurance. Getting the minimum coverage can prove to be very inexpensive, but at the same time offer great coverage that will protect you. Also consider these add-ons for the ultimate protection:
  • Gap Insurance - If you owe more on the car then it is worth, gap insurance is for you. This insurance will help pay off the remainder of the car if it gets stolen or in an accident.
  • Rental Reimbursement - If your car is in the shop and will be there for a few days you may need a rental car. This part of the insurance helps you by giving you money back for the rental car you may need in the event this happens.
Finding auto insurance shouldn’t be a difficult task just because there are so many companies out there competing for your business. If you drive a vehicle, you need to have insurance. It’s important to you and your finances that you get the coverage that fits your budget and protects you if and when you need it. Shopping online for auto insurance can be one of the best ways to get your coverage. Most online companies will provide you with free quotes or estimates to let you know what you should expect to pay for the amount of insurance you need or want. Why take valuable time to go to an auto insurance company during the day when they set their hours. Getting auto insurance over the internet allows you to hunt down the insurance coverage you want at a rate that is appealing to you, all while you are in the comfort of your own home. Take the time now, if you are looking for auto insurance, to compare quotes to see how much you could save.

Stay Protected on the Road with Auto Insurance Coverage

Every single state in the U.S. now has some form of mandatory auto insurance legislation. In some states, the law requires drivers to purchase minimum levels of property damage and bodily injury liability. With other states, drivers do not have to purchase insurance coverage as long as they can demonstrate financial responsibility. Regardless of the specifications of the law, the message is clear: drivers need the financial protection of auto insurance. In today’s litigious climate, driving without adequate auto coverage is extraordinarily risky. You could face hefty legal judgments against you after even a minor collision. Without liability protection, your assets would be at stake.
As important as liability protection is, most drivers should not limit their coverage strictly to that arena. A well-rounded policy that includes coverage like comprehensive, collision, and rental reimbursement affords the most financial protection. With full coverage, you protect one of your most valuable assets, your car, while also minimizing your legal liability in the event of an accident.