Bad things happen: that’s why people buy auto and homeowners insurance policies. But America’s love affair with lawsuits means your coverage could fall short. That’s where umbrella insurance policies come in. They provide a convenient and surprisingly affordable extra layer of protection for your key assets. What happens if you are sued for causing an...
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How to Insure Your Boat
A survey by one insurer found that 29 percent of all boat owners did not have a separate watercraft insurance policy. This could be a mistake. Many boat owners mistakenly think their homeowners or personal auto policy will provide coverage; however, the standard homeowners policy limits property damage coverage for boats to $1,500—far less than...
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Protect Yourself from Identity Theft
In 2012, financial losses due to personal identity theft totaled $24.7 billion, over $10 billion more than the losses attributed to all other property crimes measured in the National Crime Victimization Survey. Identity theft affected about 7 percent of Americans in 2012, but not all of them suffered a financial loss. About 14 percent of...
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Staying Healthy Overseas: Things to Know Before You Go
If your travel plans include a trip overseas, check this list before you check your bags! Country-specific health conditions. The U.S. Centers for Disease Control offers information on health concerns by country, including infectious diseases, recommended vaccines, malaria information (if pertinent), list of medications to bring and cautions on food and water. www.cdc.gov/travel/destinationList.aspx. Individual-specific health...
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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...
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If You Have a Boat Do You Need Boat Insurance?
What’s the difference between a boat and a yacht*? If you know the answer, you probably need more coverage than just the standard homeowners policy can provide. Boating is a great family activity, but it does involve risks: in 2008 (the last year for which complete data were available at press time), the Coast Guard...
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Motorcycle Insurance and Insuring Other Two-Wheeled Motor Vehicles
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,...
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Umbrella Policies: Rainy Day Protection
Bad things happen: that’s why people buy auto and homeowners insurance policies. But America’s love affair with lawsuits means your coverage could fall short. That’s where umbrella policies come in. They provide a convenient and surprisingly affordable extra layer of protection for your key assets. What happens if you are sued for causing an auto...
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Ten Reasons to Buy a Personal Umbrella Policy
In general, personal umbrellas provide extra coverage, high limits and extend your other coverages &dash: all at relatively little cost. Here are the specifics: The typical homeowners policy provides only $100,000 to $300,000 in liability coverage. A lawsuit can cost much more. A personal umbrella policy can provide limits of $1 million or more, in...
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Do You Need Travel Insurance?
Foreign travel checklist: Passport – check. Visa – check. Airline tickets – check. Hotel reservations – check. Health insurance coverage – ??? Any foreign travel requires some planning. Since nothing can ruin a trip faster than an accident or unexpected illness, don’t forget to check how your health insurance coverage applies outside the U.S.! Generally,...
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