Homeowners insurance is absolutely essential in order to protect what’s likely the single largest financial asset you own: your home. Besides that, your bank will require that you have a sufficient amount of homeowners’ insurance when you first take out your mortgage, and that you maintain such coverage for the life of the mortgage.
But through the use of optional coverages – also known as “endorsements” – you can make sure you are fully protected. There are many different types available, and insurance companies don’t always do a great job of publicizing what they have to offer. Chances... Homeowners
Homeowners Insurance Endorsements You Should Pay Attention To
Wednesday, February 26th, 2014
Homeowners insurance is absolutely essential in order to protect what’s likely the single largest financial asset you own: your home. Besides that, your bank will require that you have a sufficient amount of homeowners’ insurance when you first take out your mortgage, and that you maintain such coverage for the life of the mortgage.
But through the use of optional coverages – also known as “endorsements” – you can make sure you are fully protected. There are many different types available, and insurance companies don’t always do a great job of publicizing what they have to offer. Chances... 5 Common Umbrella Insurance Questions Answered
Tuesday, November 26th, 2013
Once you’ve got your comprehensive auto and homeowner’s insurance policies in place you’re completely covered against losses relating to your car and home, right? Unfortunately, that’s not necessarily the case.
Homeowner’s and auto insurance policies are subject to maximum coverage limits, so they wouldn’t cover you completely if you’re ever subject to a claim that exceeds your maximum coverage. So if you’re ever subject to a large claim, your personal assets could be subject to loss to cover that claim. Sometimes the best approach in protecting yourself isn’t to get more homeowner’s or auto insurance, but to purchase an... What Your Homeowners Insurance Doesn’t Cover
Friday, June 21st, 2013
All insurance policies have limitations and exclusions on the things they’re covered, and the amounts you may be able to receive as reimbursement. Your health insurance policy, for example, won’t cover every type of illness and accident or other malady that may affect you. Even umbrella insurance policies have coverage limits and exclusions for certain types of claims.
The same is also true with your homeowner’s insurance policy. You might assume that you’ll be fully covered in compensated for any damage that might happen to your home, for whatever reason, but that’s simply not the case.
Everyone’s policy is different,... Tips for Filing an Incident Claim With Your Insurance Agent
Thursday, April 11th, 2013
We buy many different types of insurance to protect ourselves and our families. We insure our health, our automobiles, our homes, and even our lives. And we hope that we never suffer any type of loss that requires us to make a claim against one of those insurance policies.
But accidents do happen, and it’s unlikely that you’ll go through life never having to make an insurance claim. When the circumstances do arise, it’s important to know what to expect from the insurance claims process so that you’ll be comfortable while going through it.
Here are some tips for filing... What is a Deductible?
Friday, February 15th, 2013
Having adequate insurance coverage is generally viewed as a necessary part of any solid personal financial plan. For example, without sufficient health insurance, a single accident or injury could wipe out years or even decades worth of your savings. Similarly, if you have inadequate homeowners insurance then you could find that you’re unable to completely rebuild after a fire or natural disaster destroys your home. One key element of nearly every insurance policy you consider for yourself is the deductible.
Deductibles Overview. The deductible of any insurance policy is the amount that you’re responsible for paying yourself, out of pocket,... Give Yourself an Insurance Audit in 2013
Monday, January 7th, 2013
For many individuals, shopping for insurance can be one of the least enjoyable aspects of personal financial planning. Not only is it unpleasant to consider the “what if” scenarios that would trigger an insurance claim, it can also be difficult to spend money buying a service that you hope you’ll never have to use. Unfortunately, this sentiment often leads individuals to ignore the scopes of their different insurance policies.
One way to make sure you’re always on top of your insurance coverage is to conduct a yearly review of all your insurance policies.
Here is some advice and tips on... How to Organize and Store Your Insurance Documents
Monday, November 19th, 2012
One important cornerstone of managing your personal financial life is good organization. If you don’t have a good understanding of your current financial situation then it will be difficult to know how to go about improving it, or to make sure that you’re doing everything you can to achieve your financial goals.
But having an organizational plan and structure in place doesn’t only apply to your savings, investment and financial accounts. It’s also essential that you have your insurance information organized as well.
Here is some insurance advice and tips on ways you can organize and store your key insurance... Common Reasons to Change Your Homeowner’s Insurance Policy
Thursday, September 20th, 2012
Your home is likely to be the most valuable thing you’ll ever own in your life. As such, it’s important to make sure that particular aspect of your finances is protected. You can take steps such as adding a home security system and taking other preventative measures, but at the end of the day you’ll still need to buy insurance.
Homeowner’s insurance is so important that when you obtain a mortgage from your bank or credit union, a condition of the mortgage will be that you obtain adequate insurance coverage. The amount of required coverage will initially be based upon...
Insurance Advice on Understanding a Home Insurance Policy
Thursday, April 5th, 2012
We have a great deal of freedom to choose our own financial paths. We can decide how to invest or save – or even whether we invest or save – and how we spend the money we earn. But there are some areas of personal finance in which we are effectively required to participate or to buy certain services.
Homeowners insurance is one of those areas. For those of us who have an outstanding mortgage on our homes, our mortgage lenders require us to have adequate homeowners insurance as a condition of borrowing. Since buying insurance in those circumstances... Do You Have Enough Homeowners Insurance To Handle What Mother Nature Does Next?
Monday, February 13th, 2012
Regardless of whether or not believe in the phenomenon of “global warming,” it’s impossible to ignore the recent increase in significant weather events. All across the country, the past several years have seen weather related destruction in many different forms. Hurricanes have battered the east coast, droughts and wildfires have destroyed millions of acres in the southwest and west, and extreme flooding has occurred in many places throughout the country.
Apart from loss of life, the most significant damage from this crazy weather is damage to homes. It’s therefore vitally important for you to make sure you have enough homeowners... 
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