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.
Homeowners Insurance: Flooding Not Covered
Basic homeowners insurance does not cover flooding. In case of flooding, homeowners who don't have flood insurance may be facing financial disaster. Homeowners who live in flood-prone areas may find that buying flood insurance is worth the money.
Organizing Your Personal Finance Life
If you're going to buy a house or refinance your existing loan this year, you should take the time to organize your finances now. Gathering your paperwork together will make it easy to apply for a loan later. Keeping your insurance policies, checking and savings accounts, retirement accounts, investments, tax returns and trust information organized will pay off when you really need the information.
Unexpected Private Mortgage Insurance Billed After Closing
PMI is purchased by your lender to protect it from a loss in case the lender has to foreclose on your home and the sales price is insufficient to pay off the debt. PMI is generally required on all loans in which the loan amount exceeds eighty percent of the value of the home. There are lenders in the marketplace that will give a borrower a loan without PMI even if the loan to value exceeds 80 percent.
How To Cut Cost Of Insurance
Homeowners may see an increase in their insurance premiums due to hurricanes and other natural disasters in 2004. Homeowners may be able to shop around to find the best insurance premiums and coverage. However, they could also try some of these easy measures to trim the costs of their current insurance coverage .
Causes Of Title Company Problems
A former title insurance processor comments on the causes of title insurance problems and gives a bit of advice that may help you with your title problems. While some of the problems are with the title companies themselves, many filter down from the mortgage companies. The biggest piece of advice from someone in the industry is to remain polite. A good attitude will help your deal much more than getting angry.
Life Insurance Can Be Whole Or Term
When you're buying life insurance you have two main choices: whole life or term life. Another phrase for whole life insurance is universal life insurance. When you buy whole life insurance you pay the insurance agent a commission upfront. Term life insurance works differently -- you can buy a new policy every year or pay a consistent rate for the entire duration of the policy. Learn about the differences between whole life and term life insurance.
Helpful Sites To Update Term Life Insurance
If you're worried about how your family will support itself after you're gone, it may be time to update your term insurance policies. And now is a good time to do it, since some insurance companies have already raised the price of some of their term life insurance policies.
Do I Need Title Insurance?
Even if you're not legally required to buy title insurance, not buying title insurance is a mistake. Get title insurance and give yourself peace of mind. You might be very sorry if you don't get title insurance if there were errors in the conveyance documents or unknown issues that could cause a problem on your title.
Life Insurance Could Be Cheaper With Higher Mortality Rates
Since the mid-1800s, life insurance companies have been predicting that Americans will die by the age of 100, or at least that's the age where the mortality tables stopped. But according to the census, there are more than 50,000 centenarians in the United States and life insurance companies aren't expecting us to die anytime soon. How does this affect you and your life insurance?
Seller Must Have Title Insurance
Why should I purchase title insurance when my house is paid for? Title insurance companies provide the service of searching the public records and furnishing a report called a title insurance commitment. The cost of title insurance varies greatly from state to state. Title insurance should not be thought of a a real insurance policy. Think of it as a cost of selling your home.