Motorcycle, moped, motorized bike, “pocket bike,” scooter — what distinguishes them, and what do you need to know to operate them legally? Do you need a special motorcycle insurance policy? In the United States, no universal or official definition exists for these vehicles. States govern vehicle registrations and insurance, so definitions and requirements for licensing,...
Read more
Protect Your Earning Ability with Disability Insurance
Disability can be more disastrous financially than death. If you are disabled, you lose your earning power, but you still have living expenses and often huge expenses for medical care. Disability insurance can help your family maintain its standard of living while you recover. Disabilities are more common than you might think. According to U.S....
Read more
Can Medicaid Take Your Home?
The Medicaid expansion brought about by the Affordable Care Act could increase situations that would allow Medicaid to seize property of a deceased recipient to reimburse the cost of his/her care. Is your home vulnerable? Read on for details. The History Since the Medicaid program began in 1965, it has permitted states to recover costs...
Read more
Tax-Advantage Your Health Plan with an HSA
Still reeling from your April 15 tax bill? Now you can tax-advantage your health plan. A high-deductible health plan linked to a health savings account (HSA) can give you tax advantages not available with other health plans. What Is an HSA? Qualified individuals can set up a health savings account (HSA) to pay or reimburse...
Read more
End-of-Life Planning
Nobody likes to think of their eventual demise and end-of-life planning, but having the proper arrangements and finances in place can be a final act of love for your family. The need to plan and pay for a funeral can come up suddenly, while settling an estate can take many months. Ensuring you have the...
Read more
Insuring Your College Student’s Belongings
If you are sending your child off to college this fall, you probably realize that your life is about to change. You might not realize that your insurance needs change as well. Here’s what you need to know about insuring your college student’s belongings. Take a peek inside a typical college student’s room: you’ll probably...
Read more
Auto Insurance: How to Know What You’re Buying
Personal risk management includes knowing your policies and what they cover. The following article will help you understand the various parts of your personal auto policy (PAP) and what to look for. When you buy auto insurance, you enter into a legal contract with your insurer. The policy and any attachments (called “endorsements”) spell out...
Read more
Why You Need Uninsured and Underinsured Motorist Insurance
According to the Insurance Research Council, about one in seven drivers in the U.S. is uninsured. Being involved in an accident with an uninsured motorist can mean huge financial losses if you don’t have the right insurance coverage. In 2009, the most recent year for which statistics are available, 13.8 percent of motorists did not...
Read more
Nine Ways to Save on Homeowners Insurance
For most Americans, their home represents security, as well as their biggest financial asset. The cost of insuring a home averaged $1000 in 2013, reported the Insurance Information Institute. What you pay could vary greatly from the average, depending on the value of your home and its contents and various risk factors. However, no matter...
Read more
Increased Construction Costs and Homeowners Insurance
You buy homeowners insurance to protect your home from damage or loss due to fire, theft, vandalism and more. But without certain important coverages, your policy could leave you short of the funds needed to rebuild and recover. The Problem of Increased Construction Costs Smart consumers usually will pay a bit extra to buy replacement...
Read more