Insurance

What Is an Insurance Broker?

When you hear the term “broker”, what’s your initial reaction? Some people have a negative association. But once you’re looking to buy a home insurance or auto insurance policy, an insurance broker can help you decide where to start. And a reputable insurance broker also can simplify the entire process of purchasing an insurance policy. Consider the following. You want to make sure you’re purchasing a policy that’s within your budget. Check. But as a smart consumer, you also don’t want to be short on coverage as a result. Check again. The whole thing can feel stressful as you seek to find the right balance of price and protection for you and your family. And while it’s possible to take charge of the insurance purchase process on your own, many people find it more convenient and comfortable to enlist the help of an experienced agent. By using an insurance agent or…

Questions to Ask Your Insurance Agent When Getting a Quote

No matter the type of insurance you’re purchasing, you can feel confident in your decision to protect yourself and your loved ones. Whether that’s home insurance, car insurance, or even life insurance. But the insurance purchase process can feel overwhelming. So, let’s review questions to ask an insurance agent when getting a quote. It’s important to consider a number of factors to get the policy right for your needs. You know you don’t want to cut corners by automatically settling for the lowest premiums. You want to make sure you have the right amount of insurance coverage. In an industry full of jargon and technical terms, you may feel more comfortable enlisting the help of an insurance agent. But even with an agent working on your behalf, it’s important that you as the customer are still very much involved. A good insurance agent will walk you through the process. You should…

Why and How to Compare Insurance Rates

Home insurance, auto insurance, and life insurance are important to help protect us in emergencies. The purchase process can sometimes feel overwhelming — we all want to be sure we’re receiving the proper level of coverage. At a price that won’t break the bank. It’s a decision that we hope to feel confident in when it’s all said and done. But later down the line – whether it’s a few months or a few years – you may start questioning whether your insurance policy is still the best fit for you. Maybe a friend or family member has shared a story about their positive experience with their car insurance company. Or maybe you got the bill in the mail, and your rates have increased for seemingly no reason at all. In these situations, and many more, it might be the right time for you to do some comparison shopping. By…

The Risks of Not Having Enough Life Insurance

With all of life’s everyday expenses, it can be easy to let life insurance slip to the back burner. And it’s safe to say that most of the time, we’re focused on our day-to-day crises—which makes us less prepared for when something unexpected happens. Life insurance is a powerful and cost-effective means to protect you and your family’s future financial health, but many Americans will admit that they’re either underinsured or have no life insurance plan at all. According to a 2018 study, almost 40 percent of Americans claimed they don’t have any form of life insurance. Of those with no plan, nearly 64 percent cite finances as the reason they’re not life-insured. While it may seem like you’re saving money in the moment, it can cost you much more in the long run if you avoid paying for life insurance. It’s actually far less pricey than most people think.…

How to Successfully File a Car Insurance Claim

No one likes thinking about being in a car accident but with more than 140,000 million Americans on the road daily, many of them drowsy, texting or otherwise distracted, the odds are you’ll experience at least one accident during your driving career.  We’re not suggesting every time you get behind the wheel you dwell on the idea of an auto mishap but knowing ahead of time what you need to do if you’re caught in one can make all the difference when it comes time to file your car insurance claim. Steps for Filing a Car Insurance Claim Whether it’s a fender-bender or major mashup, the idea of dealing with insurance adjusters and claim forms can be nearly as stressful as an accident itself. Take these steps before and after a collision and you’ll be able to handle the experience like a pro. First, be prepared by keeping the following…

Does Medicare Cover Hearing Aids? A Simple Guide for Seniors

As we get older, our hearing often starts to fade. You may notice everyone seems to mumble or your family members are always complaining about the tv volume. While this is a normal part of life, you may feel as if you’re missing out on important experiences. The simplest of activities can become tedious, and it can leave you feeling frustrated. Fortunately, thanks to advances in medical technology, you no longer have to suffer from your hearing loss. Today’s hearing aids work remarkably well, but they also come with a hefty price tag. Most Americans covered by Medicare might assume they can get hearing aids with minimal out-of-pocket costs — but does Medicare cover hearing aids?  Does Medicare Cover Hearing Aids? The Facts You Need to Know If you’ve noticed some problems with your hearing, you could take it upon yourself to have tests done and purchase hearing aids. However,…

How to File a Home Insurance Claim: Top 6 Steps

Nobody ever wants to have to make a home insurance claim. But if you ever need to, you’ll be glad you have coverage. Whether you’re dealing with water damage from a storm, an injury on your property or even burglary, homeowners insurance is there when you need it.  According to a Consumer Reports study on home insurance claims, about 41 percent of people with claims over $30,000 encountered an issue. In fact, compared to other types of insurance, home insurance claims are the most likely to be rejected. Having an insufficient coverage level accounts for a large portion of these denials. The prospect of actually filing a claim, though, can seem overwhelming. Make sure to follow these steps to help the process go as smoothly as possible. Home Insurance Claim Steps Call the Police If Necessary If you were the victim of a crime such as personal property damage or…

Cost Comparison – Term Life and Whole Life Insurance

When deciding whether term life insurance or a whole life policy, also known as guaranteed universal life (GUL) is the right choice for you, one of the first places to look is to do a cost comparison of life insurance policies. Cost Comparison Term life insurance provides life insurance coverage for a defined period of time – the term. It is less expensive and has no cash value. If you live to the end of your term, your family won’t receive a payout. Term life insurance is the most affordable kind of life insurance coverage but it does not build any cash value.  Whole life insurance premiums are more expensive. Your coverage lasts a lifetime. It combines a savings portion with the death benefit so you are guaranteed a payout as long as you keep paying the premiums. Whole life insurance may generate a cash value that grows over the…

Should I Get Life Insurance for My Child?

Buying Life Insurance for Children Most of the time, life insurance is to replace the earning power of a family breadwinner. Life insurance allows dependents to continue living comfortably in the event of a death. In almost all cases, children are the dependents, not the depended-upon. So, what is the point of life insurance for children if it isn’t to replace money for the household?  Generally, people recommend life insurance for children for four primary reasons: As a savings account. To protect the child’s later insurability. To pay for potential funeral expenses. To provide financial stability for parents in the loss of a child. While life insurance policies for children are generally inexpensive, SelectQuote encourages parents to weigh the options. Life Insurance for Children: Pros and Cons Most child life insurance policies are permanent, whole life policies, which include a savings account component (called cash value) that grows slowly over…

4 Tips for Buying Car Insurance

Like most things in life, a one size fits all policy doesn’t exist when buying car insurance. State minimums are a good place to start but those often don’t provide enough coverage to protect you and your family. Depending on your car’s make, year and model, a car insurance policy containing full collision coverage and all the bells and whistles may be too much. So how do you go about buying car insurance that offers the right amount of coverage at the best value? The key — talking openly with your insurance agent. Tip #1: Shop Early The best time to shop for a new car insurance policy is before your current policy expires, when a new driver is coming on board, or when you purchase a new vehicle. You can typically get a discount if shopping before your current policy expires. Start looking 30 days ahead of your policy’s…

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