Underinsurance Can Spell Disaster For Homeowners
Insurance is meant to give homeowners peace of mind, but an increasing number of policy holders are putting themselves at risk by neglecting to insure their home and contents adequately.
There is often confusion over the difference between guaranteed and extended replacement value insurance. Guaranteed replacement means that if the home is destroyed or severely damaged, the insurance company will pay for it to be rebuilt, whatever the cost. This is the most secure form of insurance for the homeowner, as it literally means the home is guaranteed to be replaced, but the deal carries a degree of risk to the insurer. While this type of policy used to be standard, it is now becoming increasingly difficult to even find an offer of a guaranteed replacement policy. It is now more common to be offered an extended replacement value policy, which covers a percentage of the value of the home of up to one hundred percent, plus an added percentage towards building costs. A replacement value policy simply pays an agreed set amount if the property is destroyed or badly damaged.
Consumers should also take into account the depreciation in the value of their contents over time, and insure their replacement value, rather than their resale value. After all, if the items are lost or stolen, they will need to be replaced with new items, not second hand ones.
An important aspect of managing the policy in the long term is to keep it up to date. Some policies will have an inflation effect built in, so the insured amount will automatically rise each time the policy comes up for renewal. A professional valuation should still be done on the property regularly, so that the policy holder can renegotiate with the insurance provider if the level of coverage has fallen behind.
David Cannell is a freelance writer and university educator. He is also the owner of http://www.insurance-andmore.com
Life Insurance Leads, Insurance Leads, And The Online Lead Generation Business
I've long wanted to write an article about Internet Leads (Life Insurance Leads, Health Insurance Leads, Homeowner's Insurance Leads, etc) and why they are a waste of money, time, and a drain on the Insurance Industry. Thank you ezinearticles for this powerful resource in communication!Insurance Agents all over the USA are getting solicitations every single day for one new lead program or another. The newest scam is Internet Insurance leads. Internet leads or leads generated on the Internet are 90% bogus junk?a diamond in the rough (in the forum of a good lead) occurs about once every 20 leads. That's roughly $400 to get to that good lead ? not to mention the biggest expense, labor and time spent on the other 19 leads.Where are these companies going wrong, then, with their lead generation? Why don't these l...(related: Insurance)
The Life Insurance Quote Business Is Booming, But Is The Insurance Quote Accurate?
The life insurance quote business online is booming. Not only are life insurance agents quoting a more diverse portfolio of companies, but consumers are also now able to quote life insurance online for themselves. In this article, I will analyze the impact of the life insurance online quote on the insurance industry, the insurance broker, and the consumer looking for insurance.In the not so distant past, life insurance was sold, not bought. The typical agent would travel door to door, network locally, and perhaps meet with potential...(related: Insurance)
Disability Income Insurance Can Meet All Your Financial Needs
Disability income insurance can cover you in the event of a severe accident or illness but, it really depends on how much disability income ...(related: Insurance)
Do You Pay Too Much For Your Car Insurance?
Do the premiums just seem to get higher and higher every year?It is amazing how many people just receive their insurance renewal when it is sent out each year and pay it off without a second thought!But, at the back of their mind, is this niggling feeling of discontent about the amount they are paying. Unfortunately many feel there is ...(related: Insurance)
Business Insurance; Information You Will Need
When you start a small business you will need to have insurance. You would be wise to shop around. Triple A rated carriers like Farmers Insurance, State Farm and All State are definitely places to get quotes from, but also be sure to check out your local independent insurance agents as well. When shopping for a quote there is some things you will need to know. For instance you SIC code and business category. If you are involved in more than one, it pays to look at both SIC codes to see which category is preferred by the agents underwriters. Some SIC codes many insurance companies will not even touch. For instance Car Washes, Amusement Parks, Aviation Businesses and security companies. But there are insurance companies who specialize in these areas. Perhaps you might wish to thumb through a recent trade journal to see which insurance c...(related: Insurance)
Insurance Adjusters How They Work And How They Think
Here comes the insurance adjuster. Is he overly friendly? If so, watch out! It's OK to be hospitable. Be good-tempered and cordial - - but beware! Never forget he's paid to save his company as much money as he can. That's the name of his game.DON'T SIGN ANYTHING: Don't overestimate the good will of the adjuster. They're trained to investigate accident cases in such a way, if at all possible, to make their insured look good. Many unsuspecting individuals fall prey to the adjuster who seeks to protec...(related: Insurance)
Keys To Controlling The Future Of Health Care
Several key changes are necessary to get control of the costs associated with the run away health care system in the United States.Here are just a few suggestions:1) Cost information about medical procedures and cost comparisons to alternative treatments need to be more easily available so that consumers can make better educated health care choices.2) Outcomes and outcome comparisons of alternative medical procedures need to be more ava...(related: Insurance)
Bankers Long Term Care Insurance
How many times have you seen people whose life was turned upside down by an accident?When an a...(related: Insurance)
All Auto Insurance Is Not Created Equal!
Contrary to what you may have heard all auto insurance is not created equal. A quick search on the net will quickly reveal different rates, different policies, and different terms, so how is one to sort through all the clutter.Well the first thing you may want to do is visit the all auto insurance center which is a resource center that explains auto insurance in detail. You can also search the net and visit plenty of other good sites to better understand your coverage.There are many things that affect your insurance rates. Your driving record, how many tickets you've had in the past, where you li...(related: Insurance)
The Importance Of Travel Insurance
You've finally saved enough to go on that dream vacation you've been planning. Now you're wondering if you should buy travel insurance. Do I really need to go to the extra expense? All I can lose is my luggage, right?Guess again! Anything can go wrong while you are traveling, and I strongly favor buying a policy.Most travel insurance policies are designed for a variety of travel needs but, I emphatically advise reading the fine print of any policy you purchase regarding any deductibles and health situations. You many find your policy won't cover pre-existing conditions that may cause a problem, or that the medical coverage is only for an injury or an illness -- not both. For emergency aid, travel insurance polices are generally dependable and affordable, but there a...(related: Insurance)
Insurance Claim - Medical Insights And Expenses
There's nothing that has a greater impact on evaluating a personal injury insurance claim than the damage done to your body, the medical bills that are a direct result of that injury and the "pain and suffering" you were forced to deal with.Besides botching up your body (and sometimes your love life) what else does the injury mean to you? It means a ton of financial expense's, including repairing your car, lost wages, a shock to your life style, a tremendous inconvenience and short or long periods of pain and discomfort - - all of it a direct result of your injuries.Plus, there's a long list of possible medical expenses. Fo...(related: Insurance)
The Life Insurance Policy And What You Need To Know Before You Buy
Are you looking to buy a life insurance policy? Well, be careful. Life insurance can be difficult to understand and it's easy to be conned into buying something under false pretenses.Recently a prominent life insurance company together with several of its agents paid a huge fine because it permitted the sale of a life insurance policy disguised as a retirement plan. There was little attention given to what a life insurance policy is truly designed to provide.Life insurance is not an investment for your benefit. It's guaranteed income tax-free cash paid to someone you designate in the event of your death. If...(related: Insurance)