Category Archives: Insurance

A Few Things You Should Think about Regarding Your Homeowners Insurance Policy

If you have had your homeowners insurance policy for many years, like other homeowners, you likely haven’t looked at it, let alone thought about new quotes for a new policy. The problem is that your circumstances over time may change, and you may need to change your coverage. In many instances, you may be able to get a lower cost policy. The first thing you need to do is take a look at your life to determine if there are changes that can affect the premiums you are paying.

Read your policy first

You need to know exactly what your insurance is covered and what it is not covering. You may not have ever read your policy. You were too excited to have purchased your new home and didn’t take the time to read it, instead, you were satisfied to listen to your insurance agent. This may be good enough at the time, but now, your life may be much different. The best thing to do is read through your policy, and then call your agent if you have any questions about what the policy says.

Determine if there is anything significant that has changed

An example of a significant change is when your children move out of the house. Perhaps they are old enough that they have moved out and started their own careers, or maybe they are away at college and plan to get a job and have their own place to live after school. Whatever the case may be, you can get a lower rate on your liability portion of your policy because with no children around, there is less chance of injury on your property. This will mean less liability on your policy, and a chance for a higher deductible that will mean a lower premium.

There are other things to consider as well

Do you still have a pool? If you have a pool, and you don’t use it much anymore, you may want to have it covered over with dirt. This will reduce your liability greatly. For more ideas on how to reduce the cost of your policy, you can contact a homeowners insurance lodi ca agent to get more information.

Building an emergency family fund

We all heard about saving for a rainy day; it is instilled in us from a young age and for many of us it is art of our financial lives. However, in this age of austerity it is harder than ever to start putting together a nest egg for when unforeseen emergency may arise.

Life, as we all know, is unpredictable; we get ill, houses flood and hurricanes hit, it is just part of life. What many families don’t consider though, is how they would manage financially in times of extreme crisis: whether it’s saving for a fund, making sure you are insured or what credit options may be available to you. Having an emergency plan in place such as this is important and can certainly make the stress a little easier to handle.

Before, we look at how we can make small changes to our spending in order to save money; we need to understand what we can do to rectify a financial emergency if we don’t have a fund. Financial emergencies can be caused by a number of factors, from medical bills, house repairs and unexpected utility issues. Whatever the form of emergency, each one is stressful on both yourself and your children. If you don’t have the funds to cover these unexpected payments, then you could incur late payment charges or similar; it is this situation that short-term loans like those of Payday loans from Dollars Direct Canada can help.  This form of loan is designed for emergency use to help you in between paychecks. If you feel that you are in the midst of a financial crisis, then have a search online to see what loan options are available for you.

Create your budget plan

The first thing to consider when looking to start your emergency fund is a clear and precise budget. This will need you to really look at your finances under a microscope, a difficult thing for many people to do. Start with your incoming cash and then the expenditure that has to go out. This could include your mortgage, bills, childcare, school fees, food etc. This will give you a basis to start working from.

Once you can see the cash you will have left over every month, then you will have a clear idea of the amount that you can actually afford to save. Remember, it doesn’t matter if you can only afford $30 a month, that amount will soon add up over the years. When creating your budget it is also worth considering the area that you live in and if this poses any emergency risk, high flood risk, forest fire issues, earthquakes etc. Not something anyone wants to think about, but in reality, this can help you to save more if you are at immediate risk.

Small ways to save BIG

Each month we all make regular small payments for life style things we may want, whether this is lunch money for the children or a latte on the way to work. It is these payments that you need to consider stopping and saving the money. In general, you may not think that cutting out a latte will really save you a decent amount of money, but in reality that $5 a day will add up to around $150 a month – now that is a nice amount for an emergency fund.

Don’t worry though, you don’t have to cut out that coffee or shop brought lunch every day. Instead, consider making your own latte and a packed lunch from time to time. It may take your children a little getting used to, but you can be creative with what they are eating and be secure that you are covered financially.

Finally, there are other emergency financial needs that you may want to explore. It is always important to keep you insurance up to date, whether it’s vehicle, home or contents insurance, having this up to date and within easy access is very important to reducing your stress.

Types of auto insurance

Shopping for auto insurance can feel like jumping through a lot of hoops, especially if you’re not familiar with the various terms relating to insurance and what type of insurance you should purchase for your vehicle. You should also be aware that several factors will come into play when it comes to how much you pay for insurance. These factors include where you live and work, your age and gender, your credit history, how you store your vehicle and what kind of safety features it has, such as an alarm system and anti-lock brakes.

There are two primary types of auto insurance: comprehensive and liability. Comprehensive provides coverage for damage to your vehicle and other vehicles. Liability-only, or limited coverage, insurance covers just the other driver, not you or your vehicle.

Once you’ve decided between comprehensive, which is a must for newer and high-value cars as well as cars that have a lien on them, or liability-only, which is better for older cars that aren’t worth as much, you’ll also want to consider limitations for bodily injury, medical expenses, and vehicle and property damage. These can vary, though all states have required minimums. Deductibles are another thing to consider. Lower deductibles mean that in the event of a claim, you’ll only pay a few hundred or less out of pocket, but a low deductible will significantly increase how much you pay each month. Opt for a higher deductible and watch your monthly payment drop significantly.

There are many add-ons you can consider for a car insurance Harrisburg policy. From free roadside assistance to free or reduced towing to rental reimbursement, there are many driving-related features that your policy can carry. If you’re on the road a lot or don’t have a secondary vehicle in your household, then you’ll want to at least consider rental car coverage. There are also add-ons for financial assistance if you miss work due to injuries as well as special policy pay-outs in the event of severe injuries or death. While these will increase the cost of your premium, they are certainly worth considering, especially if you have a family.

Before committing to an auto insurance policy, make sure you fully understand your policy’s coverage, what is or isn’t covered and what your expenses will be. If you have questions, don’t hesitate to ask.