You have just closed on your home purchase and money is going to be tight for a while. Should you buy a home warranty to help you avoid out-of-pocket expenses or will it be a waste of money?
Before you decide if it will be worth it to you, you should understand what a home
Other Insurance
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
Mortgage Protection Life Insurance (MPI) is designed to cover your mortgage payments in case of a catastrophic life event. Policies can vary, but MPI generally covers your mortgage payments if you are disabled or lose your job, and will pay off the mortgage if you pass away.
Note: Because of the close acronyms, people sometimes
If you are stretching your funds to purchase a home with a minimal down payment, you are probably familiar with private mortgage insurance (PMI). It is generally required in any home purchase in which the down payment is less than 20%. PMI is insurance for the lender, not for you — it covers the lender
Sunday, July 23, is Parents’ Day, which was established when President Clinton signed a Congressional Resolution into law in 1994 to recognize, uplift, and support the role of parents in raising children. At some point when those children are grown, however, it often becomes their responsibility to care for their aging parents. It is an
June 28 is National Insurance Awareness Day and less than a week later, on the Fourth of July, we celebrate Independence Day. This is the perfect time to brush up on your knowledge of fireworks safety and how potential damage or injury could be covered by your insurance policies. For many Americans, the Fourth of
If you are a first-time homebuyer, you may be aware of mortgage insurance but you may not know that there are two different types. Mortgage Insurance Premiums (MIP) and Private Mortgage Insurance (PMI) both have the same general purpose: to offset the default risk to lenders when borrowers have purchased homes with low down payments
While many outlets are publishing Mother’s Day gift lists, none of them mention “bail money”. But enterprising bail bondsmen are trying to cash in on the holiday to promote their services.
A bail bond is a promise by an insurance company to pay the entire amount of someone’s bail if the accused doesn’t show up
For Valentine’s Day, we hope you bought a thoughtful gift for your significant other. It’s the thought that counts, of course, but let us give you a tip or two: women like jewelry. And, when it comes to fine jewelry, you should give thought to insurance.
Fortunately, your family’s everyday jewelry is probably covered by
According to the US Travel Insurance Association (USTIA), 17% of Americans reported that their travel plans were adversely impacted by storms and natural disasters, medical problems, or carrier-related issues. Of that group, only 22% had travel insurance to help them deal with the costs and aggravations of an impacted trip.
If you are debating whether
The strong dollar is making a foreign vacation look attractive, but recent terror attacks in Nice, Paris, Brussels, and other parts of the world can make travelers understandably nervous about committing thousands of dollars in tickets, reservations, and deposits to head overseas. If you do end up canceling a planned trip because of safety concerns,
Consumers using their credit card abroad and who then have some kind of financial problem may get help through their card’s travel insurance. While not all credit card companies provide this type of insurance to their consumers, many do. Those who need to use their card’s travel insurance may find that coverage is quite limited,
Americans who have a down payment of around 20 percent or less may have to get mortgage insurance to qualify for the loan. However, some lenders do not explain what this is, and some borrowers walk away because they don’t believe they should buy mortgage insurance.
Mortgage insurance provides lenders with a guarantee if the
Dogs bring joy to the lives of their owners almost every day. Occasionally, though, some dogs will injure another person or damage the property of others. These circumstances can cause hefty financial damage to those who do not have proper liability insurance that covers their pets.
How to Protect Yourself Financially Insurance can be purchased
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
We all know that teenagers are indestructible. If you don’t believe it, just ask them; they’ll tell you.
Unfortunately, their parents know teens are anything but indestructible. A medical emergency for your teenager could happen anywhere. Would your child be prepared if he or she suffered a medical emergency while on a school trip, visiting
An annuity is an insurance product and retirement planning tool that establishes a future income stream based on a current investment. Most annuities are sold through insurance companies, but some are supplied via direct sale from investment companies such as Vanguard and T. Rowe Price. You have two choices regarding the style of annuity: Deferred
You may think you have all the insurance you could possibly need to cover your healthcare expenses, but are you certain about that? Do your policies cover every catastrophic life event that could befall you? Check your current insurance policies — you will be surprised to discover what is not covered! If that’s the case,
Supplemental insurance is an additional form of insurance that is designed to cover expenses that standard insurance available in your state may not include. This form of insurance often covers expenses for health care that other forms of insurance such as Medicare, Medicaid or a company healthcare policy may not cover. Standard health insurance policies
Scheduling Items on your Homeowners policy The term “Homeowners Insurance” is used for insurance policies that insure a person’s primary, owner-occupied residence. This can be a single family home, a multi-family (up to 4 apartments) home, an apartment or condominium. Each residence is insured through a different type of “homeowners” policy. Each policy covers personal
Insuring Investment Property
Properly insuring investment property will make a difference at the time of a claim. The type of property you choose to invest in will dictate the type of insurance you should purchase. Unlike your homeowner’s policy that comes with lots of extra coverages bundled into it, you must choose the coverages you