Having the right kinds of insurance — including good medical, disability, automobile, homeowner, long-term care, life, and even travel insurance — is key to good financial planning. This page about insurance gives you the lowdown on how to successfully navigate the often perplexing world of insurance coverage.
If a Neighbor Damages Your Condo, Who Makes the Insurance Claim?
You open the door to your condominium after a long day of work, but before you settle in for the night, you notice water dripping from the ceiling and a large discolored spot on your living room carpet. It appears as if a toilet or bathtub belonging to your upstairs neighbor has overflowed, causing damage [...]
When Can You Stop Paying for Life Insurance?
Life insurance is one of those topics about which I often hear questions. Many people don’t quite understand why they need to pay for a life insurance policy—or they are afraid that they might eventually need to use one. Most of us want to insure that our partner and/or children are taken care of financially [...]
Mileage-based Car Insurance: A Bonus for Teen Drivers and Their Families
Many well-meaning parents simply add their teen drivers to their existing insurance policy. The parents then focus more on driving lessons for their teens than on insurance alternatives. But given young drivers’ learning curve, families may want to find a mileage-based policy that offers savings, solid coverage, and the ability to improve their children’s road skills, [...]
Does Home Value Affect Homeowners Insurance?
For the past five years, most homeowners have been watching their homeowners insurance rates go up, even as their homes drop in value. This has led some homeowners to wonder: If my home is worth less, shouldn’t it cost less to insure? Unfortunately there is no insurance break on the horizon for homeowners, regardless of [...]
Understanding Your Health Insurance Policy Coverage
Understanding your health insurance policy can be tricky, but knowing the terms of your policy before a medical professional treats you is the key to helping you avoid unexpected and often hefty bills. The staff members at eHealthInsurance.com, a website that helps consumers find health insurance, frequently field questions about health insurance policies. They have [...]
Health Insurance and Employers Offering Wellness Programs
According to the Journal of Clinical Psychology, 38 percent of Americans who make yearly resolutions make health-related resolutions. If you’re among them, your health insurance company may be able to help you out. More and more insurance companies are offering wellness programs and discounts to customers willing to commit to a healthy lifestyle or to [...]
A Blind Date with Your Insurance Agent
Meeting an insurance agent and buying an insurance policy for the first time is sort of like going on a blind date. You’re hoping to find someone who makes you happy and fulfills your needs. But while you know a little bit about what you want, you’re not quite sure what you’re actually going to [...]
How to Create an Inventory for Homeowners Insurance
When you think of your house in terms of what needs to be insured, it’s easy to think only of the physical structure outside. However, your homeowners insurance policy doesn’t just cover the cost of rebuilding your home; it also covers the value of the items inside. But filing a claim can get dicey if [...]
Retiring with a Mortgage: Should You Get Insurance to Cover Unemployment?
When retiring with a mortgage, you should really think about whether downsizing would make more financial sense. Q: I currently have 10 years left on my home mortgage of about $200,000 and I am 64 years old. I plan to work past 70, but I am concerned that my job might disappear or that I [...]
Access Insurance Resources from Your Smartphone
You can do a lot on your smartphone today. You can buy a new pair of pants, order dinner, and watch a movie. You can also keep track of your calendar, monitor your bank account, and even check your credit score. And if you get into a car accident or your home is looted, now [...]