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Why do I need home insurance?
In the case of an accidents causing damage to your home and other property, it will cost have any damage repaired, or replace anything that is lost or destroyed. To be financially secure, you will need some form of home insurance. Also, many mortgage holders require you to have some amount insurance, to protect their investment.
How does home insurance work?
Home insurance covers the cost of damage to your home, garage and outbuildings due to accidental or weather-related causes. It also provides you with financial compensation if you cannot live in your home due to damage.
If your personal property, belongings and furniture, is stolen or damaged, your home insurance policy will replace them.
If someone is injured in your home, you may be found liable for the medical expenses. In the home insurance there is a liability portion that will protect you from this financial liability.
Things to keep in mind: Before you choose your home insurance, there are some things that are good to consider:
Is there coverage amount enough to protect the total value of your home? Make sure it is not simply the equity (the amount paid off) or the balance remaining on your mortgage.
What losses are covered? Things such as weather damage, theft or fire are usually covered, but specific thing such as earthquake or flood damage may not be. Check your policy to be sure.
What items are excluded? There are always things that are excluded from your policy. Know what they are, and be sure to protect yourself.
Are your deductibles affordable? The deductible is the amount you pay before the insurance is activated. A higher deductible means a lower premium, make sure it is worth it.
What discounts are there? Some things may give you a discount, for example a security system, not smoking or having more than one home insurance policy. Look at what your life style supports!
If you keep these things in mind, it will be easier for you to find the home insurance that is most suitable for your home.
Auto Insurance
Why should I get auto insurance?
Every five second, there is a car accident somewhere in the United States, often resulting in damage or injury. It is important that you have auto insurance. Your car is a major investment, and the insurance will protect you from financial loss, even if you are found responsible. Most states also require you by law to have some sort of car insurance. If you do not comply, you may have to pay heavy fines, or even go to jail.
Despite all this, 14 % of all drivers are still uninsured. It is therefore recommended that you get uninsured/underinsured auto insurance. If an accident occurs where the other person does not have insurance, you and your family will still be protected.
The cost of insurance varies wildly between different companies. Keep in mind that many auto insurance companies offer discounts, for example for cars with low mileage, cars with safety and anti-theft devices and for non-smokers.
Auto insurance terms
There is also much variation in the coverage of different auto insurances. Here are a few common terms that will help you in choosing the insurance that is best for you:
Liability insurance – This is the minimum insurance policy that is required by your state. It will protect you are found responsible, whatever damage or injury occurs.
Collision insurance – Offers a greater protection than the liability insurance. If you are found responsible for damage o your car, it will pay for it.
Uninsured/under-insured motorist coverage – If an accident occurs, and the other person do not have insurance, this can lead to great financial loss for you. This policy will cover such a case for you.
Comprehensive coverage – This pays for a damage that is unrelated to collision, such as fire, storm damage, theft or vandalism.
Taking these things in mind, it will be easier for you to find the insurance you need, for a good price. This page will also help you find discounted car insurance.
Health Insurance
Should I get health insurance?
Health insurance is a topic in the news these days. The costs are rising for each year. You might ask yourself if it as actually worth it. The answer is definitely yes. It is still possible to find effective and affordable health insurance, and you need it not only to protect your medical health, but your financial health as well. More than half the bankruptcies that happen every year is due to medical expenses.
A good health insurance plan will give you access both emergency and preventive medicine, a necessary component for your long-term health. Instead of having to focus on the costs, you can focus on your recovery.
Choosing your health insurance
There are a number of things to consider when you are choosing affordable health insurance with the coverage that is best for you:
Your employer might offer you health insurance. However, due to risings costs, they have decreased the coverage. Be sure that you are getting what you need. Otherwise, consider supplemental health insurance, so that everything is covered.
You may be able to get a group plan, even if your employer is not offering coverage. Check with local civic organizations, alumni association or your credit card company, they may have group plan options.
Be sure that preventive care, hospitalization and specialist are included in your health insurance plan. Also, do not forget about your teeth and your eyes, include dental and vision.
Make sure there is prescription coverage. Medications can be very expensive.
Look closely at your deductibles and co-pay fees. These can seriously add to your costs when treating a long-term illness. But higher deductibles and fees also means a lower overall premium.
Be sure that the plan includes the doctors you want to see. You may get lower premiums from managed plans, such as HMO’s, and from preferred provider networks, but they may also limit the doctors and specialist you will be able to see.
You want to find a health insurance with low immediate costs, but at the same time have a low overall cost and keep the premiums down. This page will help you find cheap individual health insurance
Dental Insurance
Is dental insurance worth it?
Studies show that regular check-ups and cleaning makes a big difference in maintaining mouth health and dental hygiene. For this reason, most insurance will pay 100% of the price for check-ups twice a year. It will pay all or part of the price for more extensive dental work, and a portion of reparative or restorative work. Even if you have good oral hygiene and take good care of teeth, you may still need this from time to time, and the cost can be very high. Dental insurance is definitely worth it.
Besides protecting your mouth health, it is also good for your general health. Tooth decay and gum disease may contribute to other health problems. It increases a woman’s risk of preterm delivery, and of giving birth to low-weight baby. It is also a threat to people with chronic conditions such as diabetes, respiratory diseases or osteoporosis. Regular check-ups and cleanings are essential for keeping you healthy in the future. Dental insurance will pay for this.
How do I find good dental insurance?
There are many varieties of dental insurance, including HMOs and PPOs. If you are not covered by an employer’s group dental plan, you may need to look for individual dental insurance, as a supplement to your health insurance coverage, or a standalone policy.
When you are looking for cheap dental insurance, you need to look at monthly dental insurance rates and premiums. You will also need to take the benefits into consideration. Look at the annual maximum benefits levels. You may decide that the higher level of benefits is worth the additional cost.
Some things to consider are:
Are you free to choose your own provider?
Is it you and your dentist or your provider who controls the treatment options?
What services are covered under your plan? What are the limitations?
Does the plan cover treatment by specialists who are recommended by your dentist?
Life Insurance
Why should I get life insurance?
Life insurance provides you with security when the worst happens. When tragedy strikes, it is easier to cope without the additional burden of having to struggle financially. Life insurance will replace lost income and help paying burial and estate expanses. It will pay off debts, such as mortgage, car loans, other loans, medical expenses and college. It may also provide for other financial needs.
Life insurance policies
It may be confusing with all the different life insurance policies to choose from. Here follows some simple explanations of the most common policies to guide you.
Term life insurance
Term life insurance is the most well know and popular form of life insurance. It cover you for a specific period of years, usually provides with monthly, annual or bi-annual premium, and expires by the end of the period if you are still alive. It is simple to set up and is usually inexpensive. However, it doesn’t have any cash value. Also, Term life insurance is sometimes called mortgage insurance.
Whole life insurance
Whole life insurance provides security for your family, and also builds a cash value account. The account is managed by the insurance company. You can choose to receive dividends, reduce the costs of premiums, reinvest the money, or withdraw the money if you need to.
Variable life insurance
Like the whole life insurance, variable life insurance builds a cash value account, but with higher flexibility, and higher risk. The death benefit is not a set amount, but varies depending on the investments and how the money increases. You can also borrow money from this policy during your life time.
Universal life insurance
Universal life insurance is the most expensive form of life insurance. It provides the greatest security, and most financial flexibility. You can manage your account however you want, by money market, stocks or bond funds. You can also withdraw funds at any time, though you get a penalty if you cancel the account altogether.
Knowing the difference between the policies will help you in being able to choose the life insurance that is right for you. Insurance quotes can vary a lot, some times as much as 50%. Keep in mind that some life-styles choices, such as smoking or drinking, will raise the cost of insurance, and reduce the amount of available coverage. This site will help you in finding the best life insurance for you.