Monthly Archives: May 2018

Home Insurance Guide

Home insurance guide that will help you save more while enjoying adequate coverage: We all will appreciate a very affordable rate provided it comes with sufficient coverage. But in what ways can this be achieved? Here are steps that will help you attract huge discounts without difficulty…

1. You may be paying much more if you’ve got a government homeowner’s insurance policy. Natural disasters in some areas made it very difficult for folks there to get home insurance coverage. The only solution for such people then was to go to a government agency that sold government homeowner’s insurance. Nevertheless, at present there are many private insurers who also give coverage for such places.

Many may still have little or no other means of getting home insurance coverage apart from a government homeowner’s insurance. However, this isn’t always true as you may get better coverage at a cheaper price from some private insurance companies.

2. A neighborhood watch will make your neighborhood safer and as a result help you get cheaper rates. So, if you’ve got one in your area, let your agent know about it. It will be easier than you think to convince your neighbors to start one if they are told how much they will save in home insurance apart from the other benefits.

3. Let your insurer be paid your premiums automatically and you will get you a considerable discount. If you do NOT know how to do this, ask your banker or agent. Apart from being easier, you will get a discount for this.

4. Statistics show that dog bites lead to over $1 billion in liability claims annually (That is about 33% of all liability claims yearly). Dog owners, therefore, should expect higher home insurance rates. You can save yourself such high rates by ensuring your dogs are generally kept in such a place where they can do visitors to your house or passersby no harm.

5. Low rates, while attractive, must not be settled for without checking the insurance provider’s rating. It’s one thing to pay your rates faithfully and another thing for an insurance company to keep to the deal. It is very important that you spend time to first check with your state’s department of insurance website or its equivalent. Confirm from them whether your preferred insurance provider is licensed to sell home insurance and also their rating.

You can as well obtain useful information about an insurer from independent bodies like BBB, A.M Best Company, Phelps, Inc., Standard & Poor’s Insurance Rating Services, Moody’s Investor Services, Inc.

Comprehensive Health Care Plan and Protection

Over the years with the advancement in medical technology and the increasing use of sophisticated diagnostic equipments, the cost of proper medical care and treatment had become increasing exorbitant and beyond the reach of many people. Indeed, without a health or medical insurance policy, if one should fall ill to any serious or terminal disease, the cost of seeking proper treatment can seriously set back one’s finances and derailed one’s financial plan. The benefits and importance of a health care plan cannot be emphasized enough. Hence, it is surely vital that a comprehensive health care plan and protection is an essential item in one’s financial plan.

If you are looking around for the right insurance plan and baffled by the different kinds of insurance plan available in the market, a health insurance guide summarized and listed below will help you to ensure that you have a comprehensive health care coverage:-

1. Your health plan should include a hospitalization and surgical insurance plan which covers room and board, laboratory fees, the use of special facilities, nursing care, prescription drugs and the medical supplies necessary for your treatment.

2. It is important that the costs of pre and post hospitalization treatment are covered in your plan.

3. Your plan should also include a critical illness plan whereby you will be able to receive a lump sum cash payment from the insurance company if you are diagnosed with any critical illness listed under the policy.

4. Another important inclusion is a hospital income plan that will provide you with income replacement should you be hospitalized due to any accident or illness.

5. The inclusion of a disability income plan that will cover your day to day expenses should you be unable to work due to an accident or illness.

Many people make the mistake of delaying the purchase of a health plan until they are at an older age or when they are ill. Due the changing working environment that we live in today, it is important to highlight that work stress and unhealthy eating habits has resulted in more young adults succumbing to heart attack and other illnesses normally associated with the elderly. Furthermore, accidents on the roads and even in the playing field happen daily. Therefore, with the exorbitant cost of medical treatment and medical care in hospitals these days, a comprehensive health care and medical insurance is an important financial security blanket and it is imperative that you should include it in your financial planning portfolio.

Auto Insurance Guide

This auto insurance guide will explain the common clauses in an automobile insurance policy. Buying auto insurance can be confusing and this column will begin to explain some common questions people have.

The first thing you need to understand is the liability portion of your policy. This is the most important piece of any insurance policy because it is the portion that pays out to cover damages to other people’s property or any injuries sustained in an accident.

Liability coverage is broken down into three parts. The first is how much your policy will pay out to one injured person, the second part is how much the policy will pay out to all injured people, and the third part is the total amount of money paid out to repair damaged property. The limitations are usually written in a three digit series much like a date is commonly written.

If you see 25/50/25 your policy has a $25,000 dollar maximum for one person, $50,000 for all people, and $25,000 for damages. It is important to know that any damages or injuries that cost more than the coverage you have will need to be paid by you. This is why purchasing enough liability coverage is essential to protect you financially.

The other thing you need to be aware of is that collision insurance, while not mandatory, is very important. Without proper collision coverage you will be responsible for paying the entire cost of the repair for your own vehicle if you are at fault in the accident.

The last thing we will mention in this auto insurance guide is uninsured motorist coverage. This is coverage you can purchase in case you are hit by an uninsured or underinsured motorist. It will pick up any of the costs that are not covered by the other driver’s insurance policy.

Ohio Auto Insurance Guide

This Ohio Auto Insurance Guide is designed to give customers information that they could find useful when shopping for car insurance in any part of the Buckeye State. Some location specific factors that can affect you car insurance premiums are theft rates, fatality rates, and state requirements. Use this guide to Ohio auto insurance as a road map to direct you on your journey to buying driving coverage.

State Requirements for Drivers

Ohio state law requires that motorists be able to prove financial responsibility in the event that there is an accident. Most of the time, this requirement is met by purchasing liability insurance. The state requires that motorists carry at least $12,500 in bodily injury coverage per person, $25,000 in bodily injury coverage for accidents that involve more than one person and $7,500 in property damage coverage. These coverage amounts are the minimum. Most people elect to purchase additional coverage in the way of collision or comprehensive insurance since liability coverage would still leave many costs unpaid in the event of an accident. The more coverage you purchase the more you will pay in premiums.

How Fatalities Impact Your Rates

Fatality rates can also affect your car insurance premiums. There is good news for motorists though. In 2009, the national fatality rate fell to record low of 1.27 per 100 million vehicle miles traveled. Montana’s was the highest with a rate of 2.5 and Rhode Island and Massachusetts were tied for the lowest at a rate of 0.8. Ohio’s fatality rate was 1.1. A lower than average fatality rate should positively impact the cost of Ohio car insurance.

Auto Theft Statistics and Ohio Drivers

Ohio was ranked the 9th highest state in the nation for auto theft with 37,425 per year and Columbus, Ohio was ranked 22nd highest city in the country. The likelihood that your car will be stolen can increase the cost of your car insurance; but, you can also receive discounts if you counteract the risk by installing anti-theft devices on your vehicle.