 Check this out: a recent survey revealed that a staggering 65% of Americans are in the dark about the full extent of their home insurance coverage.
Even more surprising, 45% have faced the harsh reality of having their insurance claim denied due to insufficient coverage. That's why it's crucial to engage in regular conversations with your local independent insurance agent. This ensures that you not only recall your existing coverage but also assess whether any adjustments are needed. To guide your discussion, ask these 8 essential questions:  Homeowners insurance is a critical and required piece of home purchases if you're securing a mortgage loan.
A number insurance documents must be presented at the closing so it's important that you notify your insurance agent as soon as you have a contract. These include:  Umbrella insurance serves as an added layer of protection, going beyond the confines of your existing insurance plans.
It acts as a safeguard against significant financial setbacks in situations where you may be deemed liable for damages or injuries to others including: bodily injury, property damage, personal liability, and advertising injury. Consider the following scenarios:  Telematics is the use of GPS and other technology in vehicles to track driving behaviors and habits.
Insurance companies use behavioral analytics to determine the driving behavior of their policyholders and adjust insurance rates accordingly. There are pros and cons for policyholders considering using telematics. Here are a few:  "Green" discounts - perks on your homeowner's insurance for embracing energy efficiency and eco-friendliness - are becoming more popular among homeowners.
Along with familiar green discounts like solar panel and smart home technology, here are 3 additional possibilities you may not have thought about:  Looking to save on homeowners insurance? You're probably familiar with some saving options like bundling and claims-free discounts, but there are other lesser-known discounts you might qualify for. Here are 3:
 With Valentine's Day coming up soon, we can expect to exchange our expressions of love through cards, flowers, chocolate, and yes, engagement rings.
Valentine's Day is one of the most common days to get engaged, second only to Christmas Day. If you're planning to pop the question this Valentine's Day, have you thought about protecting your investment of that important piece of jewelry? Here's what you need to know about insuring an engagement ring:  We've all experienced the increase in cost of goods and services over the past several years, so it's logical to anticipate that your insurance premiums might increase some, too. However, the amount of increased cost has taken some policy holders by surprise.
There isn't simply one major reason but a number of factors that have caused insurance premiums to rise. In addition to increasing rates, insurance carriers have also tightened requirements for insurance approval and/or renewal. Just like with increasing premiums, clusters of factors have made it more complicated to identify and predict risk. Technological advancements like machine learning and artificial intelligence have given insurers a more accurate way to predict risk by using huge volumes of data. So what kinds of data are now being used to modify (and tighten) criteria for insurance policy approval? Here are 3 lesser known factors you should be aware of that affect your perceived financial stability by insurers:  Historical data show that as people age, physical and cognitive changes may impact driving skills. Once you reach 70 years old, you can expect your auto premiums to rise. There are a number of things drivers at this age and older can do to lower their auto premiums. Here are 5 suggestions:
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AuthorDennis Lam Archives
July 2024
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