Are You Insured For Winter?

Extreme cold weather, of the type we regularly enjoy here in the UK, has been known to lead to an increase in incidents leading to insurance claims, such as flight cancellations, burst pipes, and motor accidents. However, it is an error to make the assumption that any issues caused by the wintry weather will be covered by the terms of your insurance policy. Although you should always check with your insurer as to the exact terms of your cover in the event of a cold-weather incident, here is a guide to what you can reasonably expect from your home insurance provider in some cold weather situations.

If the water pipes in your house should freeze up, then the chances are they?re going to leak when they thaw, due to the expansion of the water when frozen. Now your home insurance should cover you for this eventuality, although you should check the terms and conditions of your cover before you make any claim. Some types of winter weather damage, such as the damage to your assets caused by water escaping from heating systems and burst pipes, usually covered by the terms of your contents insurance policy, whereas others, such as damage caused to your water tank by freezing, should be covered by your buildings insurance. If, for whatever reason, you have left your property unoccupied for more than a month, and you have not informed your policy provider, then you may not be able to claim for cold weather damages incurred while you are away, so it is important to let your insurer know about any planned long absences and come to an arrangement with them on those terms.

The damage that is caused by extremely cold weather is ordinarily covered by most buildings insurance under the terms of the ?storm? provision, although if the weather conditions have led to damage through the exacerbation of a pre-existing fault, you may not turn out to be covered. However, what counts as pre-existing damage in a claims dispute of this kind is far from clear, as the responsibility may lie with the construction company that built your home, or the tradesman who fixed your pipes the last time.

Due to the amount of grey areas that exist when it comes to making insurance claims, it pays to have some legal knowledge on your side in the case of a dispute, especially if there is a third party involved. Some insurance firms offer a free legal advice and even cover some of the legal costs incurred by the customer in the case of a dispute. For instance, Co op insurance offer a free legal help line as a standard feature of all their home insurance products, and offer up to ?50,000 worth of legal expenses insurance for free when you take out a buildings insurance policy with them.

Live And Retire Offshore in Costa Rica

In the event you are looking to retire, you want to get a place that is going to assist you to live with out stresses. You might not like the idea of each person knowing who you’re and would like to relocate somewhere peaceful and quite affordable. Therefore lots of people are not opting for to retire abroad. One on the list of top places to retire overseas is Costa Rica. Strap your-self and in the next few minutes you will learn three logical reasons why Costa Rica might be the perfect destination for you.

Prices in Costa Rica are minimal. Sure, there are million dollar homes and cars, high-priced dinning establishments with absurdly priced wines, and just about any way imaginable to break one’s bank. Yet, along with the high-society luxury livings are cost-effective, house-ware-stores, outdoor markets where you can acquire a full meal below one dollar, and low-cost places to stay at. If you are aiming to retire overseas within a strict budget, you may quite simply live inside the Costa Rican capital, San Jose, for 850 dollars per month.

The secondly reason you will want to retire in another country in Costa Rica is the fact that you could savor an exciting new culture without ever being far from the own. You will find excellent factors that countless retirees select to retire abroad in Costa Rica. Among those motives is culture. Costa Rican lifestyle is a thing that is so distinct from other cultures that it is fascinating to discover and get section of. Selecting to retire overseas in Costa Rica allows you to learn about incredible people whilst concurrently being competent to be close to sizeable expat communities, enabling you to experience the temples in the day and then speak about sports from your domicile country at nighttime.

The 3rd reason you should retire offshore in Costa Rica will be the folks. If you are hoping to be surrounded by welcoming people who bother about their business, Costa Rica is one of the best places in the world to live a life. Costa Rican persons don’t wear their feelings on their sleeves and do their finest to hide any adverse sensations behind a grin. Smiling is in fact, amongst the most significant regions of Costa Rican culture that you will need to enjoy in case you retire offshore here. Actually, in case you pay consideration, you’ll be capable to tell how somebody feels just from the smile! Costa Ricans are normally ready and willing to help and will apologize abundantly if they can’t help. Also, you will not have random people slamming on your door (or ringing the bell) to try selling things you don’t want.

We now have just checked out three causes you might wish to retire overseas in Costa Rica. Keep in mind that just before you even seek out regions to retire abroad; you must consider the pluses and minuses to view in case this sort of choice is fantastic for you. However, after you do select to retire offshore, Costa Rica presents one among the greatest options in value, culture, and livability.

Which Is Better: Term Or Permanent Insurance? Life Insurance

The biggest financial decision you are likely to make is buying a home, closely followed by less expensive must-haves like a vehicle. But the one deal you should aim to get right is the decision on life insurance. This is the difference between leaving your dependents with an adequate amount of cash to see them through the times of economic hardship after your income is lost, and leaving them with nothing. In this, the decision on term as against permanent insurance is the key. Put the wrong key in the lock and you open a door into real financial hardship. So what’s wrong with term insurance? Think of this as like a bet. If you die within the term, your dependents are the winners. If you prove healthy and live too long, you lose the premiums you paid and your dependents get nothing. Now, when it comes to permanent insurance, this builds up a cash value. The longer you have the policy in place, the more valuable it comes as the premiums you pay attract investment returns. During your own life, you can take some of this money back or borrow using the fund as collateral. When the sad day finally comes, the benefits are paid out to your dependents less whatever drawings or borrowings you have made.

From these short sentences, you will immediately suspect the other difference between the products. Term life insurance is the cheap option. It gives you security in the amount of the benefits for the number of years you select. If you buy one term policy after another, the premiums are higher each time because your life expectancy is less on each renewal. Permanent insurance premiums are higher because a percentage of what you pay is invested on your behalf to generate the cash value. So your fund receives the benefit of the interest, dividends and other returns the investments generate. This makes the total of the cash value the key factor. Do you want a higher rate of return on the premiums? This can be for your own benefit should there be an emergency during your life. Or it can build up over the years for your dependents. If the answer is yes, you must be prepared to pay more to start off the policy ? the first year’s premiums often disappear into a black hole representing set-up costs and the selling agent’s commission. But the amount you pay stays the same throughout the lifetime of the policy. So, with inflation, what starts out a struggle slowly grows easier to pay.

The real problem is the uncertainty of the future. Who knows how inflation may affect different aspects of life. What may be cheap now, may be expensive tomorrow and vice versa. So here are a few simple rules. If all you want is cover over the next few years (no more than ten), get life insurance quotes for a term policy. Ten years is not a long enough period of time to build up a worthwhile cash value. Estimate what benefits might be needed, e.g. your daughter will need $50,000 to cover her college tuition fees, and the total will set the amount of the insurance. If you are looking at a period of at least twenty years, you should think seriously about permanent insurance. Again, get life insurance quotes but you should also take advice on the different types of policy available and create or review your estate plan. Between ten and twenty years is a gray area and whichever way you decide is not going to be wrong.

Companies Will Receive Group Health Insurance Subsidies For Early Retirees

“A significant portion of employers continue to offer health coverage to their employees after retirement. In many cases, former employees retire before they are eligible for Medicare–the federal government’s healthcare program for senior citizens.

The 55-and-over demographic has been susceptible to some of the most significant pitfalls of the private health insurance market if they are not insured by their former employer. They are more likely to have pre-existing conditions, which has been a barrier to coverage. The coverage older Americans could get came with significantly more expensive premiums, which are difficult to afford on a retirement income.

The recently passed health insurance law attempts to do quite a bit to solve these problems: age rating will be limited to just two or three times the rates charged to a younger person in similar health, and insurers will be forbidden from denying coverage to people with pre-existing conditions.

However, many retirees with existing former employer-sponsored health benefits have been worried that the legislation will negatively impact their current insurance, or eliminate it altogether. Public support for healthcare reform has lagged as a result. Indeed, employers have been looking into ways to save money while implementing the law’s provisions. New requirements–such as the one that requires them to cover adult dependent children of employees until the age of 27–will add more expenses to their budgets. Insurance for retirees may appear like a good place for cuts.

In order to avoid this, the United States government has agreed to provide subsidies. Up to $5 billion worth of medical bills will be subsidized for those companies who insure early retirees through their group health insurance. Companies of all sizes are eligible, whether they buy coverage or self-insure. That amounts to 80 percent of their expenses between $15,000 and $90,000.

Before employers rejoice too much, they should remember that the health insurance subsidies come with a catch. According to a White House fact sheet, they require plans to have implemented measures to reduce the cost of treating those with chronic conditions.

(Image: boliston under CC 3.0)

Questions To Ask Your Health Insurance Agent

These questions will help to ensure that your agent is being honest with you and to help you understand some of the important variations in the different types of policies.

1. Stop Loss: Definition:The maximum out of pocket you will pay before you have 100% coverage for the rest of the year. For most companies it will be under $5,000. There are a couple of companies that don’t actually offer a stop loss. They will have limits for what the company will pay out but they have no limit to what YOU will pay out. This is the most important aspect to your insurance policy. I have seen people get stuck with $50,000-$200,000 worth of medical expenses without a good stop loss!

Question to ask your agent: What is my maximum out of pocket (stop loss) per year before I have 100% coverage?

2. Deductibles: Some companies will have separate deductibles for different aspects of their policies (testing/laboratory deductible, therapy deductible, chemotherapy coverage, separate accident deductibles, etc.). This is where some insurance companies depend on there being big loopholes so that they don’t have to cover things that may otherwise be covered. Ex: Things that one company may call testing and therapy, may not be considered the same type of procedure by another company. If something falls between categories for different deductibles, you will be stuck paying bill for all of it. You want a plan that has ONE DEDUCTIBLE. This way there are no gaps. You reach your one deductible each year, then everything that is covered under your policy will be covered as your policy states. It drastically eliminates holes in your policy that the insurance company can exploit.

Question to ask your agent: How many deductibles does my policy have?

3. Networks: You want to be in a plan that offers networks. Some companies will offer plans that are good at any doctor, any hospital, anywhere in the country. This is a great selling point but unfortunately, it is also very dangerous. Networks exist for a very good reason. If you have a plan that has big coverage holes in it and you go to a doctor for some reason, anything that is not covered by your policy you will pay 100% of all costs and you will pay 100% full retail price for it. Obviously this can be financially catastrophic. Insurance companies and doctors give their customers/patients what is called ‘Network Pricing”. If you go to a network provider with insurance and something is not covered by your plan, in many cases you will still get the big discount that the insurance company would get just because you have insurance. This is “Network Pricing”. Some companies offer nationwide networks so even if you travel a lot you will never be out of network. This is very important.

Question to ask your agent: If my company doesn’t use networks and I have medical procedures performed that are not covered by my policy, how much will I have to pay? Do I get a discount because I have insurance? (The correct answer to this is you will have to pay 100% of retail prices. If the company does not use networks, any other answer is either wrong or deceptive.)

4. Coverage per period of confinement: Some companies will have definitions for deductibles as “per period of confinement.” Ex: Your plan could have a $1500 deductible but we need to know if it is a yearly deductible or “per period of confinement” deductible. Some companies will list a period of confinement as 90 days. This would mean that if you are hospitalized for the same thing within 90 days you only have to meet one deductible. However, if 91 days later you have another problem with the same condition, you will then have to hit ANOTHER $1500 deductible. In addition, if you have a different medical problem within those 90 days and need to be seen by a doctor, you will again have to hit ANOTHER $1500 deductible!
Again, this is another potentially financially devastating scenario.

Question to ask your agent: Is the deductible a yearly deductible or a per period of confinement?

If this article was helpful, please feel free to repost it unaltered.

Life Insurance – Are You Scared Of It?

NOBODY and I may repeat that. Nobody wants to think about death unless of course they are frustrated with life and see no future for them. But for you who has a family you love and care about. You want the best for them. True, you want to spend eternity with them. Would that happen?

Getting a good life insurance can make a huge difference between penury and comfort in unfortunate event that death occurs.

This is actually a decision that needs to be made without emotions. If you care for your loved ones this step further confirms it.

Life insurance is actually not as expensive as people might think. An over 30 year old man paying about $20 dollars a month can entitle his family or his beneficiary to about $250,000.00 when the coverage is claimed.

You decide what you want to leave and you know your premium.

Getting quotes from insurance companies is one of the simplest things to do these days. There are dedicated sites (quotes sites) who all they do is get some information from you and get you quotes from a number of insurance companies immediately for you to compare. The very interest thing about it is that it totally free with no obligations.

As you decide to secure your family’s future by getting a good life insurance coverage, take time to get good free quotes from reputable companies. This ensures that you get the best deal.

There are a number of free quotes sites I can recommend to give you the best of service.

So What?s The Big Deal About Insurance?

The most definitive way to discover why insurance is such a big deal is to be caught without it, arguably one of the most costly mistakes you might ever make in your life.

Household insurance an imperative, not a whim

Should your hearth and home, together with its expensive contents, be permanently damaged or even destroyed by fire or flood, could you rebuild it from scratch with your own hard-earned cash?

If your geyser bursts and most of your imported wooden floors are destroyed, can you afford to replace them without insurance? This is clearly why household insurance is an imperative and not a whim.

Your greatest asset and the place that offers untold security for you and yours is your primary residence, so why in the world would you take a chance by not insuring your home and contents?

Adequate risk management can save the business

Running a business can also be a risky occupation. As a business owner, you are not only responsible for yourself but for your staff and their dependents too.
Consider the reality of a contract falling through and your business not being able to meet a loan payment due, or even the ability to pay staff wages, rent on the business premises or those often large electricity and water bills.

Without adequate risk management, even the failure of a single contract could very well be the death knell of your business ? prepared to take that chance?

Motor vehicle accidents prevalent

With the growing number of cars on the roads each year and the startling statistics of people driving without a licence or under the influence of alcohol, motor vehicle accidents appear to be rather more the rule than the exception.

If you happen to be behind the wheel of an uninsured vehicle and you are involved in a bad accident, are you able to waltz into the nearest car dealership and buy a new car? And do you have the means to pay for the replacement or repair of the other party?s wheels? How about the medical bills of the other driver and his passengers? Scary thoughts if you?ve opted not to have adequate car insurance or none at all.

Personal insurance can maintain a comfortable standard of living

Lastly, what happens if you?re injured and are unable to continue working for a prolonged period of time? Who picks up the monthly household accounts and medical bills, as well as maintaining the standard of living you and your family are familiar with? It is at times like these when personal insurance can save you from the poorhouse.

If you still have any reservations as to the efficacy of insurance, ponder hard on the above scenarios, make the right choice and get hold of a reputable insurance broker today – before your regret it ?big time?.

Why Not Buy Mexican Auto Insurance In Mexico?

It?s a bad idea for US and Canadian tourists to wait to buy Mexican Auto Insurance at the border or inside Mexico. Most people plan their vacation, then forget all about insurance until they cross the border… then they proceed to buy insurance at the nearest seller. This is the equivalent of buying your groceries at a convenience store: no matter how well you shop, you’re going to pay too much, and your options will be limited, too. You don’t even have the option of researching those insurers that vend at the border, and who knows how strong their grasp of the English language is going to be. It?s better to buy it before you leave.

How much time is it going to take to purchase a policy at the border? What extra fees will they add? Is it a PAPER policy? Is it printed in -2 font? There might be a reason. What are the options? Why not purchase a policy before you go to Mexico, in the comfort of your home? It costs less. You need a policy with an English or a Spanish translation. You also need ID cards and accident instructions.

What will you do if you can?t find an insurance booth as you cross or find that your favorite booth is closed or having equipment failure problems? What about Legal? Do they make you pay for the bond? What about emergency medical assistance? Is that included? Are they hawking Split limits or Combined Single Limits? Does it matter? Yes, depending on the amount of the limit you purchase?

Are you getting an electronic policy or a bare bones paper generated policy?

Does the insurance company you are purchasing from have a good or bad reputation for paying claims?

Does the policy say that?s it?s OK to repair your car in the United States, & then restrict the Labor Rate to rates commonly found in Mexico such as $10.00 or $15.00 dollars an hour. Who pays if difference if the labor rate in the US is $65.00 per hour?

TIP: Most likely you will.

3 Easy Ways To Find Cheap Michigan Car Insurance

If your looking to find cheap Michigan car insurance with great coverage, then we can definitely help. We have years of experience in insurance helping others find the best car insurance rates possible utilizing these 3 easy steps.

1.Compare multiple quotes with reputable companies. The easiest way to do this is to shop
online. You can fill out an easy form in less then 5 minutes and get multiple quotes by doing so. Most services will connect you with between 3-5 reputable local agents that can go to work to earn your business. Not all companies are competitive with everyone, which is why it is so important to compare multiple quotes.

2.Make sure you give accurate information. Filling out the form with incorrect information, or not providing all the necessary information will only give inaccurate rate quotes. This doesn’t mean that you need to give personal information such as your social security number. The Social Security number should only be given once you have chosen an agent and are either talking to them on the phone or in person.

3.Compare car insurance quotes with higher deductibles. Sometimes raising your deductible from $250 to $500 can save you 10-15% per year. Other times you may even find that comprehensive and collision coverage isn’t even necessary. If you have a vehicle that is only worth a couple thousand dollars it may be wasteful to even have comp and collision coverage at all.

Follow these 3 simple steps to get cheap car insurance. The most important is to shop on line. You will be able to compare multiple quotes in less time. The other option is to call each agent individually. This works as well, it just takes more time. Good luck shopping for cheap car insurance!

“what Is Homeowners Insurance?” – What You Should Know

Most of us are totally baffled when it comes to understanding homeowners insurance policies. Here’s a simple guide to what homeowners insurance covers and how much insurance you should have.

What is homeowners insurance?

Homeowners insurance covers your home and your personal property such as clothing, furniture, and appliances in the event of a fire, storm, explosion, vandalism, or burglary. It also protects you and your family against liability lawsuits.

How much home insurance to I need?

To figure out how much insurance you need to cover your home, ask a contractor what the square-foot building costs in your neighborhood are, then multiply that figure times your home’s square footage. Example: If it costs $175 per square foot to build a home in you neighborhood and your home is 1,800 square feet, you should insure your home for $315,000 ($175 X 1,800).

If you have an older home or a custom home constructed of different material than the standard homes in your neighborhood, get a contractor to give you an estimate of what it would cost to rebuild your home.

If you live in a flood-prone or hurricane-prone area of the country you’ll need to get flood or hurricane insurance because standard homeowners policies do not cover damages caused by flooding or hurricanes.

How much personal property insurance coverage do I need?

Many policies only pay for the depreciated value of your personal property and not the actual value, so make sure your policy pays for the full replacement value of that property.

Homeowners policies limit coverage on expensive items like jewelry, furs, and works of art, so you’ll need to get a special endorsement known as a “rider” to insure these items.

What about liability coverage?

Many policies offer minimum coverage for liability insurance, usually $100,000. If you don’t have a lot of assets to lose that’s fine. But if you have a substantial amount of assets you can increase your coverage or buy an umbrella liability policy. It only costs about $50 a year to increase your liability coverage from $100,000 to $500,000.