Avoid Narrow Coverage

Most experts warn against buying any insurance policy with extremely narrow coverage. Cancer insurance, for example, makes no sense when other policies can cover a broader array of health ailments. Industry experts generally recommend a life insurance benefit of five to 10 times annual income, depending on how many debts and dependents you have. With enough basic life coverage, you …

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Find Discounts

When Bill Wilson’s son was in high school and college, his above-average grades lowered Wilson’s auto insurance premiums. Generally, a B average or better qualifies for a discount, he says. Homeowner premiums can be lowered by something as simple as putting a fire extinguisher in the garage or something as expensive as a new roof. Life insurance can be four …

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Liability Coverage

Another important addition to homeowner policies is umbrella liability coverage. Without it, you could be bankrupted by a lawsuit, whether from someone injured on your property or from someone slandered by your Internet blog. Such coverage is rare but important for renters who live in large buildings, says Wilson of the Independent Insurance Agents & Brokers of America. A fire …

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Tips on Add Law Coverage

If your older house is destroyed by a fire or disaster, you can’t just blow the dust off the original construction plans and build again. In most of the U.S., building codes have become much more stringent, requiring upgrades of everything from electrical systems to the thickness of walls when you rebuild. To pay for these extra costs, public insurance …

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Insurance for Golden Years

Long-term care insurance has become more expensive. Customers who bought policies in the past should hold onto them, University of Texas’ Kitt says. Although premiums may rise, those policies are likely more generous and less expensive than current products. Buy between ages 40 and 55, and “the premium is much more manageable,” says Terry Headley, an insurance agent and president …

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Too Little Coverage Insurance – Big Mistake

A dangerous way to lower premiums is to get too little coverage. Homeowners who can afford it would be smart to insure enough to cover the contents of a house–including artwork or other expensive items–and the full cost to rebuild a home on the site.  This construction can be much more than the market value of a house, says public …

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Tips on Insurance Buying

Insurance protects consumers–while also maddening them. Shopping for the right policy can quite confusing and “consumers are really at a disadvantage,” says J. Robert Hunter, director of insurance at the Consumer Federation of America. Getting paid for claims is sometimes no easier: “It has become a war of attrition,” says Joseph Ditré, executive director of Consumers for Affordable Health Care. …

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5 Tips for Car insurance

Start the Countdown How much you pay for auto insurance depends o­n several factors, including your age and marital status, where you live, and what you drive. You can’t do anything about your age, and few people will move just to lower their insurance premium. You can, however, choose a vehicle that costs less to insure. In this article, we’ll …

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General Insurance for your Needs

General insurance or non-life insurance policies, including automobile and homeowners policies, provide payments depending on the loss from a particular financial event. General insurance is typically defined as any insurance that is not determined to be life insurance. It is called property and casualty insurance in the U.S. and Canada and Non-Life Insurance in Continental Europe. In the UK, insurance …

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Home Insurance and Concepts

What is ‘Homeowners Insurance’Homeowners insurance is a form of property insurance designed to protect an individual’s home against damages to the house itself, or to possessions in the home. Homeowners insurance also provides liability coverage against accidents in the home or on the property. In the U.S. there are seven forms of homeowners insurance that have become standardized in the …

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