July 20th, 2011
Auto insurance does a lot more than pay for repair or replacement of a damaged or stolen vehicle. In fact, it's the other coverage provided under an automobile policy that's really important. Car insurers provide:
Bodily Injury Liability Coverage. Sometimes called “BI”… this coverage takes care for other people’s expenses related to medical and burial cost, lost on the job pay, disability income and pain and suffering.
Property Damage Liability. Covers other people’s property if you damage it while driving.
Medical. This coverage takes care of medical and funeral expenses for you and your passengers. It doesn’t matter. Notice it’s not called “liability”. It doesn’t matter who’s at fault.
Uninsured Motorist /Underinsured Motorist . Takes care of you if someone with no coverage or not enough coverage causes an accident. Provides basically the same coverage as BI… except this time it’s for you.
Comprehensive . Pays to fix or replace your vehicle if it’s damaged by a covered loss—but not such as collision.
Collision . Pays to fix or replace your if it’s damaged after colliding with another vehicle or object.
These are the main coverages provided by a auto insurance policy. There can be others based on the carrier and state in which you purchase your auto insurance plan.
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July 20th, 2011
Life insurance is the type of insurance nobody wants to talk about but that everyone really should have. There’s an old saying that life insurance is never bought but always sold. In other words… most people avoid it like the plague because it involves contemplating their own demise. Unfortunately, when death strikes close to home—this is when it’s considered—and too often this is too late.
Life insurance pays someone you designate (a beneficiary) a lump sum if you die. It’s designed to ensure that life can go on in as normal a fashion as possible if a key person in the home meets a premature death. It’s useful for a stay-at-home mom as an example, to receive the face quantity of a life insurance plan on her insured husband since he’s the one that’s been bringing home the bacon. She can continue to live the life she had been living (sans husband) if the benefit is sufficient to sustain the family members. Bills can be paid, funds for college educations can be secure etc. Likewise… if the main caregiver in the home passes away… the surviving spouse can afford to hire child care and continue working to support the loved ones.
Life insurance is a critical need for a young family—not optional. The death of a parent can dash dreams of a bright future for a family in a heartbeat.
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July 20th, 2011
Accidental death and dismemberment insurance is basically life insurance having a very narrow focus when it comes to providing death benefit. A policy of this type usually will only pay a face quantity if death occurs within 90 days of an accident of some type. It will not provide coverage for death resulting from a disease, illness or other decline in health on account of non-accidental causes.
Accidental death coverage is cheap due its narrow focus. Also—since this type of coverage doesn’t require a medical exam—it can be a good alternative for those who have a fear of needles and would rather have some life insurance coverage rather than none. It could also be the only alternative for someone too young to qualify for Guaranteed Issue Life Insurance and too sick to qualify for some thing more traditional like term or permanent life insurance.
The “dismemberment” part of the coverage provides a lump sum payment in the event you suffer a severed limb, lose an eye, become a paraplegic or suffer a range of other horrifying results from an accident. For instance… your policy may specify that if your leg is amputated… you’ll be paid $1,500 one time.
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July 20th, 2011
While proof of insurance can apply to any type of insurance, generally this term refers to auto insurance. Proof of insurance is the paper your insurance company will send you that states a few key pieces of information which includes:
· your name and address;
· your insurance company’s name and address;
· the date range your coverage is valid through (e.g. 1/1/07 – 6/30/07);
· your coverage limits, which must be at a minimum the quantity required by your state’s laws.
Always make sure to keep a copy of your proof of insurance in your vehicle. You are going to need it when you register it and if a police officer pulls you over. In the event you don’t have proof of insurance with you when you are pulled over, the officer will most likely write you a ticket.
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July 20th, 2011
When you buy an insurance policy, you have two main options for covering the replacement of your property: Actual Cash Value (ACV) or Replacement Cost. These terms can confuse policyholders because “actual cash value” sounds pretty enticing as if you would be receiving piles of cash. But this isn’t the case. In fact, ACV pays you what your items are worth at the time of loss – not what you paid for them and not how much it would cost to replace them.
For example, in the event you paid $10,000 for a home theatre system five years ago and your insurance company determines that it’s now worth only $3000. You’ll receive $3000 to cover your losses. Only problem is, a comparable home theatre system currently goes for $8000 – $5000 more than what you may receive from the insurance company. On the other hand, in case you have replacement cost coverage, the insurance company would pay you enough to replace it in today’s market. In this case, you would receive $8000.
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July 20th, 2011
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July 20th, 2011
Generally speaking, when you buy auto insurance, you’ll buy several different coverage types within one policy. Most auto insurance policies will include at a minimum, property harm liability and bodily injury liability coverage. Certain states will also require no-fault medical coverage.
Coverage sorts that are generally considered optional include collision coverage , comprehensive, roadside assistance or towing, and rental car reimbursement. One of the least understood insurance coverage varieties is comprehensive insurance.
Comprehensive insurance essentially covers any type of harm that happens to your vehicle that is not covered by collision insurance minus your deductible. This coverage includes harm or destruction of your auto on account of vandalism, flooding, or theft. Oddly enough, if you hit an animal like a deer with your vehicle, it really is usually covered by comprehensive rather than collision coverage. Other types of collision harm will be covered by your collision insurance.
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July 19th, 2011
Not likely unless it is needed. A Rhinoplasty—the correct term for a nose job— is cosmetic surgery. Most insurance plans don’t cover cosmetic surgery; they only cover surgery that’s medically essential, for instance, surgery that’s needed to correct a damaged or deformed nose.
However, you may be able to get your nose re-shaped at the same time as any corrective surgery you might need. Although you’ll still have to pay for the nose job, it should be a little less costly than it would be otherwise given than it’s being performed at the same time as the medical procedure. Rhinoplasty usually expenses between $3000 and $8000.
Consult with your Health Insurance Company and ask if they would cover any cosmetic surgery.
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July 19th, 2011
The Life Insurance Calculator will assist you estimate how much life insurance to buy. The quantity of Life Insurance you purchase really should depend on the Death Benefit as well as the Life Insurance premium. Obtain a Life Insurance Policy you can afford that also protects your household having a generous Death Benefit.
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July 19th, 2011
Auto insurance policies come with a number of different forms of coverages including comprehensive, collision, and liability. Additionally, it is possible to purchase auto policies with optional coverages.
The liability portion covers damages to other individuals when your vehicle is involved in an accident. Normally, medical expenses, property damages, bodily injury, death, loss of income, as well as other expenses are paid out of the liability insurance. Simple liability insurance is mandatory for drivers. You’ll be able to get liability insurance with greater limits to further defend your financial losses. For instance, should you live in an area with a lot of pricey vehicles on the road, you might contemplate growing your limits.
If you finance your auto, you’ll be expected to carry full coverage by the lender. The comprehensive portion of the policy covers harm carried out by outside forces like theft, storms, vandalism, or some thing apart from a car accident. The collision portion takes care of harm on account of a car accident.
Depending on your policy, other claims might be covered which includes uninsured/underinsured motorists, medical payments, and roadside assistance. These are optional so you may or may not be covered.
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July 19th, 2011
Insurance agents are licensed by the states in which they operate to sell insurance merchandise and services. They ought to have certain licenses for selling property and casualty insurance and life and health insurance. Most states require pre-licensing coursework, the passing of a licensing exam, and continuing education.
Once licensed, insurance agents either function for an insurance carrier and sell their products or become an independent agent who sells a variety of insurance policies from numerous insurance carriers.
Insurance agents seek new customers and prospects to sell insurance policies to, assist existing clients with claims, and may even offer other services such as financial planning, estate planning, retirement planning, and college planning. Because of these additional financial services, the agents often sell mutual funds, securities, and annuities. Insurance agents who sell these securities should pass additional exams administered by the National Association of Securities Dealers.
Insurance agents create relationships with their clients as well as the companies who provide services such as collision repair shops and car rental companies. Even if a client has an uncovered loss, an insurance agent is an excellent resource for finding out which companies have served their clients well in the past.
Find an Insurance Agent near you.
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July 19th, 2011
Fire insurance is really a specialized type of insurance that protects your home or business from covered losses in the case of a fire and potentially other damaging events such as lightning. This type of coverage is typically included in homeowner’s insurance and commercial “multiple peril” insurance policies.
Multiple perils can include a variety of potential perils to the property including either named perils or open perils. Named perils are specifically listed in the insurance policy with damage-causing events such as fire, lightning, theft, or explosions being common. An open peril policy will cover all damages whose causes were not specifically excluded in the policy.
While the term “fire insurance” emphasizes fire, many other causes for loss are often included in the coverage. For instance, a fire insurance policy may also cover damages caused from burst pipes.
Fire dwelling insurance is also available for people who rent their homes to others. Not only will it protect your investment and help you rebuild, it may cover your loss of rental income for a specified time period while rebuilding.
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