Five Money-Saving Tips to Reduce Auto Premiums
If your agent shops insurance carriers on your behalf, then provides you with the BEST coverage at the LOWEST cost, then you are one step ahead in the money saving game. It is true that a variety of coverage types exist, and not all are the right fit for every person. That’s the job of a knowledgeable agent – to seek the best match for their clients and then ensure value.
That doesn’t mean that you are completely off the hook when it comes to saving money on your auto policy and lowering insurance premiums while still keeping the necessary coverage. Below are a few things you can do as a consumer to help reduce expenses.
Is Your smart phone covered by your policy?
How often have you misplaced or lost your smart phone? If you are like the other 224 million people in the US, it is fairly frequently. Most of us today cannot live without our smart phones. From the moment, we get up in the morning, most of us have our smart phones close at hand. What would happen if you could not find your smart phone? Panic would probably ensue. Contrary to advice given by the AT&T or Apple representatives, your homeowner’s or renter’s policy usually does not cover loss, breakage or misplacing your smart phone.
Your homeowner’s policy does cover your smart phone for damages, such as fire and theft but not for losing or misplacing your phone. Even if you had a covered loss, your loss will be subject to the deductible of your insurance (usually $500-$2500). This deductible when applied, would give you very little money to replace your smart phone.
Young adult going away to college means review of insurance coverage!
It’s hard to believe but summer is almost over. Students are getting ready to go back to school or it might be your son or daughter’s first day at college. These are exciting times; it seems like tons of stuff needs to be moved into a college dorm or apartment. According to the National Center of education statistics, burglaries account for approximately 50% of all on campus crimes. With this worrisome statistic, parents and their college students should take a moment and look at their insurance needs.
Most belongings of a college student are covered by the parents’ homeowners or renters insurance. This might be enough but it should be cautioned that personal property off of the insured home base is only covered at 10% of the total value of coverage for the personal possessions at the home. For example – if your homeowners or renters policy covers the belongings at your residence at $80,000, only $8000 would be available to insure your student’s belongings in the dorm. Not all homeowners/renters insurance policies are created equal and not all insurance policies of imposed this type of limit, so it is important that you discuss your policy with your insurance agent.
You must also be aware that your student’s laptop and other electronic equipment may have limitations of coverage under your homeowners/renters policy.
6 Steps to Choosing the BEST Policy
Life Insurance can protect your loved ones from the unthinkable and should also meet your needs now.
The average person spends a great deal of time planning for career, family, important milestones and even day-to-day things like meals and holiday parties. Often overlooked, is the plan for life insurance. Life insurance provides for those left behind, financially both short term and long-range. The idea that one’s family would enter hardship in the event of an untimely death is frightening and heartbreaking, yet most people do not think about life insurance as a way of preventing just that.
It’s never a pleasant discussion to have. But when you finally do meet with an expert who understands your goals, family needs and truly has your best interests in mind, you will likely recognize that life insurance is something you not only need, but truly want.
Identity Theft – What You Need to Know and How to Stay Safe
There are plenty of red flags of identity theft. Some examples are:
- Mistakes on your bank, credit card, or other account statements such as withdrawals or purchases that you know you have not made.
- Mistakes on the explanation of your medical benefits from your health plan that do not coincide with when you were either in the hospital or at your doctors.
- Your regular bills and account statements don’t arrive on time or look like they have been tampered with.
- You receive bills or collection notices for products or services that you have never received or asked for.
- You start receiving calls from debt collectors about debts that certainly don’t belong to you.
- You go into businesses and they turn down your credit cards or refuse to accept your checks.
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