Umbrella policies are aptly named, although they have nothing to do with rain or Mary Poppins. Like an umbrella, these policies form an extra layer of broad insurance protection over and above the liability limits of your existing policies. When properly constructed, they fill coverage gaps in your existing policies and create higher limits for
Auto Insurance
Another Use for Your Credit Score You probably know that your credit score affects the interest rates you’ll pay for credit cards and loans. Did you know that your credit score could also affect your auto insurance rates?
It can in all but three states (California, Massachusetts, and Hawaii). Those three states have banned credit-based
It is prudent to have insurance, but it is also smart to have the right amount of insurance for your needs. If your car is over-insured, you are simply giving away money to the insurance company, and regardless of how nice your insurance agent is, you can probably find a better use for that cash.
Your credit score affects many aspects of your financial life. It affects your ability to qualify for loans and credit cards, and the interest rates that you’ll pay if you do qualify. It may affect your credit card limits, rental fees or deposits, utility services, and cell phone/cable bills.
Can your credit score also affect
A poor credit score makes your financial life difficult in a number of ways. You receive poorer interest rates and terms on credit cards, it’s harder to qualify for mortgages, and, “When it comes time to get insurance, maybe your insurance premiums will be a little more expensive because you have a low credit score,”
Leasing a car can be an attractive option if you drive reasonably low miles and enjoy upgrading your ride frequently. You can look forward to a new car every few years without dealing with large down payments and losing money on rapid depreciation. However, leasing can be more expensive than buying a car, and prohibitively
How to Lower Your Rate and Save Money
Auto insurance payments always seem to go up each year when you receive your renewal quote. Despite this, people tend to stay with the same auto insurance company since they feel a sense of loyalty. However, given the current economic climate, how loyal will you continue to
If you are purchasing or selling a home, a mortgage broker may suggest that you get a CLUE. That’s not an insult; rather, it’s a reference to a report from the Comprehensive Loss Underwriting Exchange, otherwise known as CLUE.
What is the CLUE Insurance Report? The CLUE report is in essence a comprehensive insurance claims
It makes sense that if you have a car accident, your insurance premium could go up. What doesn’t make sense is that if you don’t have an accident, you could also end up paying more, for no reason at all.
The explanation behind such price hikes is that more and more insurance companies are adopting
It is time for year-end reviews. Is your insurance coverage included on the review list? If not, it should be. Use this insurance checklist as a starting point to review your policies and address any gaps in your coverage, as well as potential cost savings.
Homeowner’s Insurance Change in Value – If your house has
Car insurance rates can vary so much by area that they seem almost random. However, they are very carefully calculated based on the likelihood of paying out a claim and how much that claim is likely to be on average. In addition, auto insurance is regulated at the state level, and with local rules and
For most kinds of insurance, you have an option of buying through a broker or insurance agent, or buying directly from an insurance carrier. Younger, tech-savvy purchasers have been attracted to the convenience of direct online insurance shopping, but there is still room in the market for your friendly local insurance agent.
If you are
Your car was just inundated in a flash flood, consumed in a fire, blown away by a tornado, or crushed by falling debris. After you make sure that all of your loved ones are okay and your house is intact, you turn your attention to your now-useless car. Does your policy cover natural disasters? If
Got a cracked windshield? You might get it fixed for free if your auto insurance includes glass coverage. If a major storm knocked out your power and everything in your freezer went bad, your homeowners insurance may cover the cost of the spoiled food. And, if the stash of emergency cash in your sock drawer
Recent floods in Oregon, Washington State, Texas, South Carolina, California and other states drowned thousands of cars under muddy, polluted water. Once those vehicles are dried-out and cleaned-up, they could show up for sale, and you could be the one who ends up taking a bath.
A flood-damaged engine is difficult or close to impossible
People get married for many different reasons, but we will bet that not one of them is to save money on car insurance. Even so, it would be a valid reason — auto insurers do charge single people more than married couples for their policies.
InsuranceQuotes.com commissioned a recent study on auto insurance rates and
It is a hectic and bittersweet time as your children head off to college. There are so many issues to consider that it is easy to forget one important aspect — insurance.
Insurance policies and coverage will generally change once your children are no longer under your roof. However, with some planning, those changes may
If you are one of those people who likes to post on social media about all the things going on in your life, there is at least one event you might want to think twice about before hitting the “post” button: a car accident.
That is because insurance adjusters are increasingly turning to social media
MedPay Car Insurance, otherwise known as Medical Payments coverage, is a common target for people who are trying to reduce their insurance premiums to save money. However, MedPay is one of the better bargains in insurance today in terms of the value you get for the premiums that you pay. A typical cost is between
Insurance is a useful tool to cover risks, if applied wisely. If not, then it is the equivalent of throwing your money away. Even worse than throwing your money away, these frivolous insurance policies can leave you with a false sense of security.
Less useful policies tend to offer very narrow single-purpose coverage, overlap with