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.
How Does Identity Theft Insurance Work?
On two occasions, I’ve been the victim of a crime that could have resulted in identity theft. The first instance occurred when I was walking down Fifth Avenue in Manhattan and a young girl grabbed my makeup case thinking it was my wallet (she hesitantly returned it to me after I pointed out that fact). [...]
Tips for Insuring Your New Car
Winter can be a great time to purchase a new or new-to-you vehicle. Dealerships are often very slow—consumers are weighed down by holiday debt or hesitant to venture out in the cold to shop for a car—so car salespeople are eager to work with buyers. Before you run out to a dealer, however, it’s important [...]
Must-Have Insurance Policies for Expensive Holiday Gifts
The holidays have arrived, and when it comes to holiday presents, whether insurance will cover an item is generally not top of mind. However, it’s important not to assume that your homeowner’s insurance will cover any expensive gifts that you may be giving or receiving, such as computers, jewelry, or even a vacation package. Giving [...]
How Do House Guests Impact Your Insurance?
The holidays are prime time for houseguests. Whether it’s your siblings and their spouses or an elderly relative, it’s important to be prepared for your guests before they arrive. Being prepared means more than just blowing up the air mattress and stocking up on snacks. It also means reviewing your insurance policy to be sure [...]
The Top 10 Things You Must Do to Prep Your Home for Winter
Did you know that in 2013, winter storms were the third-largest cause of catastrophe losses, causing $1.9 billion in insured losses? According to reports from Munich Re, from 1993 to 2012, winter storms resulted in about $28 billion (in 2012 dollars) in insured catastrophe losses, or more than $1 billion a year on average, according [...]
HMOs, PPOs and EPOs: Choosing the Right Health Insurance Plan for You
With open enrollment season upon us, now is your chance to enroll in your health insurance or make a change to your policy for the coming year. If your employer offers only a few health insurance options, then the decision will be relatively straightforward. In many cases, you’ll have options from which to choose, and [...]
How to Pay for Long-term Care Without Breaking the Bank
Many seniors in the United States will have to find ways to pay for long-term care, either in a residential setting, such as an assisted living home, or at home through a home health or home care service. The cost of these services is generally high—between $2,000 and $5,000 per month for full-time care—and can [...]
Seven Questions to Ask Your Agent When Shopping for Auto Insurance
Imagine this: You’ve just gotten into an automobile accident. Along with dealing with any physical injuries and worrying about the damage to your car, you may also be concerned that your auto insurance rates will go up. “Car insurance is one of those things where you’re not assuming you’re going to use it when you [...]
What Is Pay-As-You-Drive Insurance?
While the National Association of Insurance Commissioners reports that the average annual cost for auto insurance has declined over the past year, some consumers may still be looking to save money on their policies. One way that consumers may choose to lower their insurance payments is by taking advantage of a program known as pay-as-you-drive [...]
Should I Choose Term or Permanent Life Insurance?
Let’s face it: few people like to talk about life insurance, let alone buy it. Benjamin Franklin, who was instrumental in creating the first life insurance company, the Presbyterian Ministers’ Fund, subsequently found that various religious authorities were outraged at the practice of putting a value on human life. Criticism cooled, however, when it was [...]