The Bureau of Labor Statistics reports that Americans age 16 and older donated a median of 50 hours annually to volunteer activities in 2013. Most people volunteer because they believe in a cause, want to help others or want to improve their community. Although volunteering might feel good, it’s not always risk-free. Here’s how to...
Read more
Renters Need Insurance Too
Many renters aren’t even aware that they need their own insurance, mistakenly believing that their landlord’s policy covers them. Your landlord’s policy will cover the building itself from damage or loss. But if your home is burglarized or destroyed by fire, your landlord’s policy provides no protection for your personal possessions. Renters insurance is inexpensive...
Read more
How To Insure Your Home-Based Business
About 46 percent of self-employed workers conduct their business from home, according to the U.S. Bureau of Labor Statistics. If you have a home-based business, you have special insurance needs. The broader availability of wideband or wireless Internet access and faster, cheaper computers have made working at home an increasingly viable possibility for millions of...
Read more
How To Protect Yourself from Dog Bite Liability Claims
The Insurance Information Institute (III) reported that dog bite liability claims cost an average of $27,862 in 2013. If you own one or more dogs, do you have the insurance coverage to protect you from dog bite liability? He may be man’s best friend, but dog bites account for one-third of all homeowners insurance liability...
Read more
Cash Value vs. Replacement Cost Home Insurance
Do you know the difference between “actual cash value” and “replacement cost” coverage? The difference has a significant effect on how much your insurer will pay out after a loss to your home. Suppose a tree falls on your house, causing severe damage to your kitchen. Your kitchen appliances are 10 years old. New appliances...
Read more
Insurance for Gun Owners
In March 2013, Rep. Carolyn Maloney (D-NY) and eight cosponsors introduced the “Firearm Risk Protection Act” (H.R. 1369), the first nationwide bill to require gun buyers to have liability insurance. If you own a gun, do you need additional coverage? H.R. 1369 stalled in Congress. If passed, it would have imposed a fine of $10,000...
Read more
Do You Need Workers Compensation for Household Contractors?
Every day, an estimated 2.5 million individuals—mostly women—work in others’ homes, cleaning, cooking and caring for children and the elderly. Although many people treat them as independent contractors, the IRS and workers’ compensation laws may consider these domestic workers “household employees.” If they are injured while working for you, you may be liable for lost-time...
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
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
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