Flooding is the most common natural disaster. Anywhere can flood. You don’t need to live near a coastline or river to have a flood. Flash floods, inland flooding, and seasonal storms bring flooding to every region of the country. Just a few inches of water can cause tens of thousands of dollars in damage.
Do you lend your car to friends, family or strangers? If so, be aware that you’re also lending those other drivers your car insurance.
Your declarations and by-laws must be analyzed to help minimize your exposure to financial loss. Be sure to consult your HOA agreement to determine what the HOA policy covers and what is your responsibility. For example, if common areas are damaged, your HOA may levy assessments against all the owners to pay the deductible on their HOA policy.
The U.S. Department of Transportation’s National Highway Traffic Safety Administration (NHTSA) has created a free on-line search tool you can use to find out if your vehicle is directly impacted by a recall.
Although most collision damage waiver (CDW) or loss damage waiver (LDW) fees are considered outrageous, most consumers should purchase the CDW/LDW for short-term rentals. This is becoming increasingly the case as rental car companies charge ever-higher fees and penalties for losses and expenses not covered by most auto policies or credit cards.
Trusted Choice™ agencies are insurance and financial service firms whose access to multiple companies and commitment to quality service enable us to offer our clients competitive pricing, a broad choice of products, and unparalleled advocacy. As a Trusted Choice™ agency, we are dedicated to you and are committed to treating you as a person, not a policy.
Links to insurance terms.
While the townhome you purchased is yours, you are still subject to the by-laws of the association. So what to do when it comes to insurance? The HOA must have a “master” insurance policy that covers general liability and physical damage to any common structures and common areas. While you may receive some benefit from this master policy, it is only for specific causes of loss and situations. You will need to determine which structural parts of your townhome are covered by the HOA’s master policy and which are not.
The penalty for underinsurance is costly. Your home insurance company requires that you pay for enough insurance to cover the value of the home at the time it is damaged, not when the policy is issued. Most home insurance policies contain a provision requiring the limit of insurance to be equal to or greater than a specified amount for the insurance policy to pay for the full cost of the damage.
Some insurance companies sell their policies directly to customers backed by very expensive TV advertising campaigns. While it might seem that having an agent to help you purchase auto insurance is a thing of the past, there are some very good reasons to use an insurance agent when buying your auto insurance. Agents Know Their […]
Business owners can clash with the IRS over whether workers should be considered employees or independent contractors. To help you determine a worker’s status, use this 20-question test, which has evolved from various court cases and IRS rulings over the years. Most questions relate to the degree of control exerted over the worker. If you answer “Yes” to most of the questions, it generally indicates that you should treat the worker as an employee. More “No” answers than “Yes” will favor independent-contractor status.
Consider using a local insurance agent, who is also a pilot, to represent you to the insurance marketplace.
Standard homeowners policies will cover most of the kinds of damage that result from a freeze. For example, if house pipes freeze and burst or if ice forms in gutters and causes water to back up under roof shingles and seep into the house. You would also be covered if the weight of snow or […]
The diversification of the U.S. economy over the past generation has meant that millions of Americans have started their own businesses. Americans still chase the dream of being their own boss by starting their own business—and the trend has picked up during the recent economic slump because of hiring slowdowns and spikes in corporate layoffs. […]