Insurance

Did you know that... More than six in ten American workers have no private disability income protection,¹ 30 percent of U.S. households have no life insurance,² and About one in eight drivers is uninsured?³ If you ask a homeowner, replacing a roof is probably the least satisfying expense he or she will ever face. While the value of such an investment is obvious, it doesn’t quite provide the satisfaction of new landscaping. Yet, when a heavy rain comes, [...]

Insurance is meant to protect you against financial loss. But is it really meant to protect you from any and all financial loss? When it comes to filing a loss claim on your home insurance, there may be times when not filing may be the wisest course of action.¹ According to one study, filing just a single claim could increase your monthly premium by 20%, depending on where you live.² What About My Premium? Some [...]

According to AARP, 47% of baby boomers expected to travel internationally in 2018. Overseas travel may be one of the more popular aspirations in retirement, but it does beg an important question:“Will my health insurance coverage travel with me?” Medicare Coverage Outside the U.S. is Limited In most cases, Medicare will not cover costs for health care or supplies obtained outside the U.S. (including its territories), except in three situations: You are in the U.S. [...]

Driving may be a rite of passage for teenagers, but for parents, having a teenage driver can be stressful and expensive. Your child will need auto insurance coverage as soon as he or she receives his or her driver’s license. Here are some important considerations. Determine Whether to Add your Child to your Policy or Purchase a Separate Policy Check with your insurer to see how your premiums are affected. Expect them to rise dramatically, but savings [...]

As a consumer, when you purchase an expensive item, like a car or refrigerator, you expect to receive a warranty that the manufacturer will repair or replace that product if it breaks down. A warranty makes sense for big-ticket purchases, but what about for a home? An Overview of Home Warranties A home warranty typically covers the repairs on specific items in a home, such as heating and air conditioning systems, plumbing, and built-in appliances.¹ [...]

The ownership structure of a condominium unit is different from that of a single family house. Here’s what you need to know when purchasing insurance for your condo.¹ Understand the Master Policy Since the ownership of all the common areas is shared with other condo owners, the association of owners typically purchases insurance coverage (a master policy) for the common areas, e.g., hallways, exterior walls, etc. The condo association’s policy will outline what is covered and [...]

In 2016, the average residential flood claim was more than $62,000.¹ The financial loss that comes with flooding can be devastating. Yet, many Americans are not protected against flood damages, primarily because flooding is not covered under a standard homeowners policy.² Low vs. High Risk Even if you are in a moderate-to-low-risk area—homes not residing within mapped high-risk flood plains—you could suffer flooding at some point. In fact, moderate-to-low-risk areas account for nearly 25% of [...]

Renters sometimes overlook the need for insurance based on the belief that they may not have a significant amount of personal possessions, or because the property is already insured by the owner. While it is true that a rental property is insured by the owner, the destruction or loss of your personal belongings is not. But, that’s not the only risk renters need to worry about. The typical renter’s insurance policy will cover your possessions [...]

One study found that 43% of cyber attacks target small business, and 60% of small companies go out of business within six months of a cyber attack.¹ Business owners are also required to protect their customers’ personal information. In 47 states, and the District of Columbia, businesses are required to notify individuals of security breaches involving personally identifiable information.² As evidenced by news of large-scale data breaches, online hacking has become another form of risk [...]

Purchasing homeowner’s insurance is not only critical for protecting your home and personal property against any potential liability; if you have a mortgage, your lender will require it. What’s Covered A homeowner’s insurance policy is a package of coverages, including: Dwelling: Covers damages to your house and any attached structures, including fixtures such as plumbing, electrical and HVAC systems. Other Structures: Pays for damage to unattached structures, including a detached garage, tool shed, fence, etc. [...]