Home rental clearinghouses such as Airbnb and VRBO make it easy for homeowners to rent out a spare bedroom or a second home when they aren’t using it. This might sound like a good way to earn extra money. Before diving in, consider the risks and your insurance coverage. VRBO and Airbnb VRBO handles mainly...
Read more
Ten Reasons to Buy Long-Term Care Insurance Now
When you consider the growing number of people over 65 in the U.S., the declining popularity of long term care insurance seems troubling. To improve awareness of how this insurance can benefit people, October has been named Long-Term Care Planning Month. Here are ten reasons you might want to consider purchasing long-term care insurance, especially...
Read more
Critical Illness Insurance Insures More than Just Your Health!
Dr. Marius Barnard, brother of pioneering heart surgeon Christiaan Barnard, introduced critical illness insurance in South Africa in 1983 after seeing the financial hardships costly medical treatments caused his patients. He reportedly said that, as a doctor, he could repair man’s body but only an insurer could repair his finances. Since its introduction in 1983,...
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
Car Insurance Policy Basics
People buy auto insurance for two important reasons: to protect their car and to protect their finances. All 50 states and the District of Columbia require automobile owners to meet certain financial responsibility requirements. These requirements help ensure that funds will be available to reimburse victims of auto accidents if another driver damages their car...
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
How Your Credit Score Affects Insurance Costs
With the recession of the past few years, many individuals’ credit scores have taken a hit. In addition to affecting your ability to get a mortgage, loan or credit card, your credit score can also affect how much you’ll pay for your insurance. Credit scores range from a low of 330 to a high of...
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
Understanding the Health Insurance Claims Process
When you’re sick, injured or coping with a family member’s serious health condition, dealing with an insurance company is probably the last thing you want to do. Understanding the health insurance claims process — what your policy covers and how it pays claims *mdash; can help you avoid unpleasant surprises. Is the individual covered? A...
Read more