Pet Insurance

For some people, the very idea of buying pet insurance boggles their mind. Just ask any farmer if he has insurance on his dog. Chances are he’ll laugh loud and hard and look at you like you are some kind of pinko degenerate.

For many of us, however, the idea of pet insurance is not that far-fetched, especially if we ever had to pay the medical on a pet that got in a tussle with the neighbor’s dog or cat.

Stitches and one scratched eyeball = $$$$$!

So for those of us who are considering pet insurance after paying though the nose on several occasions, here are some approximate costs.

For a monthly fee of between $25 and $40 (depending on where you live and the type of pet) you can expect to get something like this:

* $2,000 towards each accident or illness per year

* $500 towards an accidental death

* $250 towards advertisements and rewards in the event our pet is lost or stolen

* $250 towards boarding/homecare in the event we are hospitalized

* $500 towards unrecoverable holiday costs due to urgent treatment of our pet

* $25,000 liability if our pet damages other property or pets

* $75 towards prescription food if prescribed by a vet

* $300 towards covered medical devices

* $200 towards behavioral therapies

* $300 towards alternative therapies

* Deductibles ($100.00 annual)

* 20% Co-pay.

Now, chances are a plan like this will not cover normal vaccinations, routine medical appointments, obedience or training classes, cosmetic dentistry, flea control, injury or illness caused by war or terrorist activities. In addition it will provide no liability coverage if your pet is considered "dangerous" under federal, state or municipal law.

This should give a better idea of what you will get for your money should you decide to purchase some insurance on Fluffy or Bowser. Remember to get online and shop around for the best deal and don’t feed your critters those buffalo-wing leftovers.

Homeowner's Insurance Part 1

Your home may be the biggest investment of your life and with it comes a certain amount of risk. If you have a mortgage, you definitely need homeowner’s insurance. Even if you own the house free and clear, replacing it at today’s construction costs could wipe out your savings. The insurance premium on loss by fire can be reduced somewhat by assuming a larger deductible. For example, a $5,000 deductible would come out of your pocket in case of fire. If you earmark savings for the deductible, you can reduce your overall premium. However, you need to be aware that if you paid $100,000 for your house, it may cost $140,000 to replace it. Your coverage should reflect the replacement cost, which has nothing to do with the market value of your house. The market value may be $200,000, but insurance coverage should address the replace cost.

Most insurance policies do not cover flood or earthquake damage as a standard item. Coverage for this kind of loss must be purchased separately. In areas at high risk for flood, the government may offer a one-time house replacement. Review this with your agent. You may need a supplement to cover total replacement.

Should your home be destroyed and you chose not to replace it, you will receive the replacement cost, less depreciation. This is called actual cash value and may be less than the purchase price of your dwelling.

Generally, a homeowner’s policy has limits on the amount of coverage for accidents that happen on your property. If you have significant assets or income and the injured party sues you, the court settlement may include more than medical and court costs. Consider your liability coverage in line with your assets. For example, if your dog attacks and permanently disables the postman or meter reader, you may experience a significant court judgment, if not of your assets then of your lifelong income. Consult your insurance agent on liability coverage versus your assets.

Motorcycle Insurance

Ok.
You just spent 6 weeks pouring over the classifieds, visiting dealerships,
surfing websites and e-auctions and you finally find a ride that suits you.
What's next? Bike insurance of course.
If this is your first time then here are some guidelines.

By knowing how the insurance company will view you to determine premiums, you can keep your rates lower. Things to consider are as follows:

Type of Bike

If you have the latest and greatest, it will cost you more than a used motorcycle.
The more expensive it would be to repair or replace is the factor here.

Your Age

The older you are generally the less expensive your rates will be to a point.
An age of 38 will raise fewer flags than an age of 18. Then again, if your 68, already had two bypass operations and just purchasing your first bike, your rate will probably be up there.

Your Address

High crime and high accident zip codes will result in higher rates. If you live
in a government subsidized inner city apartment complex and drive
Deadman's Curve every day to work, your rates will reflect that.

Driving History

Any accidents you have been involved in will count against you. Insurance companies go back five years and look at your record. Even if an accident wasn't your fault it probably won't help your rates. Tickets for minor traffic violations are also considered when determining your insurance rate. Drive safe and you'll save money.

Your Job

Where you work and the route you take will influence your rates. If you're working as the night shift bouncer at a Gentlemen's Club in Soho and parking your bike on the street, make sure you save all that change you shake out of misbehaving drunks; you'll need it.

OK. Now that we've reviewed what insurance companies look for, here are some tips for getting a better rate.

Shop, Shop, Shop, Shop

Google and get quotes. Many sites have a quickie online quote system
that can get you a price in minutes.
I know it can be tedious but the rates between different companies can be considerable. You'll be surprised and delighted when you find a rate half as expensive as you thought you would have to pay.

Security

Got a garage? Use it and let the insurance company know.
Built-in alarms? Great! It all helps keep rates low.

Special Training and Low Mileage

If you take any BMV classes make sure you let the insurance company know.
They count toward a discount. They may even require that you attend.
And finally,be aware that usage makes a difference.
The hardcore road warrior chasing 100,000 miles a year will
pay more than the causal summertime cruiser in Minnesota.

Life Insurance

Face it.
If you are a responsible adult with dependents, life insurance is something you should have already. If not, then this article shall enlighten you.

Life insurance should not be be confusing. So let's figure out what you need in terms of coverage by considering your life circumstances.

What Kind of Life Insurance Coverage Do You Need?

Choosing the type of life insurance coverage you need necessarily gets into lifestyle choices. The choice is dependent on each individuals or family's needs. There are three basic types of life insurance policies. Choosing the one that is right for you is our concern for the moment.
The three different types of life insurance policies are:

Universal Life Insurance....usually bought when young and builds cash value
Whole Life Insurance........usually bought when young and builds cash value.
Term Life Insurance.........fixed rate for fixed benefit

Ok.
So let's get to the big question.
What kind of death benefit are we looking at?
This is the amount that your wife and kids will receive if you die. A quick way to figure out how much life insurance you might need is to take your current annual salary and multiply that by 7. For example, if you make 50,000/per year then I would recommend buying a minimum of $350,000($50,000 X 7= $350,000). If you have an outstanding mortgage balance, that's another consideration.
Do you have kids in college? That is another thing to think about.
Basically, it's a balancing act between how much you can afford and how well you want your dependents to live after you expire.

Choosing an Insurance Company

When looking for a life insurance company, a low premium is important but it is also important to know about the financial strength of the insurance companies you are interested in. By choosing a company that has apparent financial strength your worries that the company will be able to pay your life insurance claim when needed shall be reduced, although as we have seen in this new economy, nothing is absolute.

When you've narrowed down a list of life insurance companies to contact, have all personal information available. Your name, social security number, address, phone numbers, and places of work will be necessary to have on hand. Also, be aware that if you are getting life insurance from anywhere but your employer, you will probably have to take a medical exam. Different life insurance companies test for different things during the medical exam and they all test for AIDS. All companies charge different premium rates for smokers, so, if you are a smoker you will want to search around for a life insurance company that has the best rates for smokers.


Term or Cash Value Insurance?

If you are looking for a low cost, basic life insurance plan then term life insurance would be your best choice. Term life will give you a certain amount of life insurance for a specific term. Term life insurance is a good choice for people on fixed incomes or individuals not looking to build value.

Cash-Value life insurance (whole and universal) is more expensive but will build cash value that you can borrow against in the future. This is a good option for someone interested in having a life insurance plan well into their retirement years and want the value accrued to cover premiums.


Term life insurance policy premiums are generally much cheaper than cash-value policies (universal and whole) especially if you are young and in good health and a low cost term life insurance policy does exactly what you expect it to do by financially taking care of your beneficiaries if you die. Here's the basics of a low cost term life insurance policy:

Purchasing a Term Life Insurance Policy

You buy a low cost term life insurance policy with a specified time period, usually one, five, or ten years. During that "term" you pay a specified premium. Remember, if you put off purchasing a policy until you are older it will cost more. Your beneficiaries will receive a death benefit if you die during the term of the life insurance policy.

Facts About a Low Cost Term Life Insurance Policy

Simple, right?
Well, as with all insurance, there are loop-holes and and little twists you need to be aware of. The death benefit can change throughout the term life insurance policy depending on whether you choose decreasing, level, or increasing term life insurance. So, what happens when your term expires? That's where renewable and/or convertible term insurance options will need to be decided upon. For example, you want a basic 10 year low cost term life insurance policy with the death benefit to stay the same throughout the term life insurance policy and at the end of the term you would like to "convert" to a different term life insurance policy such as a cash-value policy, without taking another medical exam. If this is the case, you would choose a level term convertible life insurance policy.



Understanding Your Life Insurance Policy

Now that you have your policy, take the time to learn about it. If you have questions don't hesitate to contact the insurance agent who sold you the life insurance policy. It is much easier to have the answers to your questions prior to making a claim.

Homeowners Insurance Part 2

Step-by-Step Guidelines to Home Owners Insurance

Home owners insurance is a requirement by the mortgage companies.
Unless you paid cash for your home you will have to have it.
The reason of course is to cover the mortgage company's risk if
the house were to burn or collapse or get sucked up into a funnel cloud.


So What Kind of Homeowners Insurance Do You Need

Typical home owners insurance policies are divided into 2 parts:

I: Home Insurance Property Protection

II: Home Insurance Liability Protection


Property protection covers damages sustained by your home usually because of fire or storm damage.

Liability protection covers such things as injuries or accidents that may occur on your property. If the little old neighbor lady comes over for tea and falls down your stairs you'll be glad you're covered.

Remember that there is a deductible when filing a home insurance claim unless noted on the policy. You can choose a higher deductible to save money on your premiums.

When contacting insurance companies about an insurance quote, you will save money by knowing your discounts. Combo insurance policies, home security systems, smoke alarms and dead bolt locks are some options to consider which can get you a less expensive home owners insurance quote.

On a standard homeowners insurance policy, coverage limits for jewelry, furs, watches, and related items is only $1,000 combined. If you want additional coverage you will have to itemize your valuables and submit the list to the insurance company for review.


Here is a list of considerations to save money on your homeowners insurance.


Home/Auto Discount

Insuring your car and home with the same company will get you a package discount. Insurance companies will be happy to show you what kind of savings are available with combo packages.

Deductibles

Raising your deductible will result in considerable savings. Although it will cost you more upfront if a claim is required, it saves in the long run. Stay claim free and you come out ahead.

Home Security Systems

Security systems can prevent losses and make your house less of an insurance risk. Any type of security system will help give you a discount, but the systems that feed directly to local police and fire departments are most likely going to get you the largest discount.

Dead Bolt Locks

Dead bolt locks installed will save you money on your premium.
Make sure all of your doors have them installed because the discount only applies if there are dead bolt locks on every door.

Escrow

More than likely you will want your premiums folded into your monthly
mortgage payments, as well as any property taxes.
Your mortgage provider will do this for you. Some
providers charge a fee, some don't. You can have all this taken care of
just by notifying them that you have shopped around and wish to
make a change; they will need all the details so have the info handy.

Liability Insurance Minimums by State

Liability is required in all states and is defined as one's legal responsibility to pay for damages resulting from an accident be it a minor fender bender to a full blown wipeout.
If it is determined by the officers working an accident of yours that the incident was a result of your mistake or negligence, your liability insurance coverage pays for the other party's repairs to their car and medical expenses.
Minimum coverages are generally considered by insurance companies to be insufficient but then they are in the business of selling insurance. Most insurance professionals suggest the best liability limits to have are 100/300/100.
100,000 per person for bodily injury 300,000 per accident for bodily injury 100,000 per accident for property damage
In short, if you are a subpar driver with impaired faculties in a beater Escort wagon careening around Beverly Hills all day and night you may want to consider more than the minimum liability coverage. Here's the list:

* Alaska 50/100/25

* Alabama 20/40/10

* Arkansas 25/50/15

* Arizona 15/30/10

* California 15/30/5

* Colorado 25/50/15

* Connecticut 20/40/10

* Delaware 15/30/5

* Florida 10/20/10

* Georgia 15/30/10

* Hawaii 20/40/10

* Idaho 20/50/15

* Illinois 20/40/15

* Indiana 25/50/10

* Iowa 20/40/15

* Kansas 25/50/10

* Kentucky 25/50/10

* Louisiana 10/20/10

* Maine 50/100/25

* Maryland 20/40/10

* Massachusetts 20/40/5

* Michigan 20/40/10

* Minnesota 30/60/10

* Mississippi 25/50/25

* Missouri 25/50/10

* Montana 25/50/10

* Nebraska 25/50/25

* New Hampshire 25/50/25

* New Jersey 15/30/5

* New Mexico 25/50/10

* Nevada 15/30/10

* New York 25/50/10

* North Carolina 30/60/25

* North Dakota 25/50/25

* Ohio 12.5/25/7.5

* Oklahoma 10/20/10

* Oregon 25/50/10

* Pennsylvania 15/30/5

* Rhode Island 25/50/25

* South Carolina 15/30/10

* South Dakota 25/50/25

* Tennessee 25/50/10

* Texas 20/40/15

* Utah 25/65/15

* Virginia 25/50/20

* Vermont 25/50/10

* Washington 25/50/10

* Wisconsin 25/50/10

* West Virginia 20/40/10

* Wyoming 25/50/20

The first two numbers indicate bodily injury liability limits. The third number refers to the property damage liability limit. The first two numbers in 25/50/20 mean in an accident each injured person would receive a maximum of up to 25,000 with only 50,000 allowed per accident. The last number refers to the total coverage per accident for property damage which in this case would be 20,000.