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3 Reasons Why You Should Buy Life Insurance While You Are Young
Life insurance is sometimes seen as something that is needed by an older individual who wants to protect his or her spouse and children from financial hardship as they're health starts to deteriorate. While this is a common example, you shouldn't wait until your health starts to fail start thinking about such an important purchase. In fact, there are several good reasons why you may want to look into purchasing life insurance while you are still young and vibrant. The Younger You Are, the Cheaper the Premium While this might not apply if you have a known disease or some other red flag, speaking in general, your monthly premium on a life insurance policy in your 20s and 30s will be significantly lower than in your 40s and 50s. If you were to purchase a 20-year term policy in your 20s, you could pay it off at what would collectively be a much lower price than what it would cost later in life. Yes, it can be difficult to have additional expenses on your ledger when you are younger, but your future self will be happy that you were smart enough to think ahead. Your Young Family Likely Needs the Protection More Now Than It Will Later If you recently gave birth to your first child and you are still in the early stages of your professional life, getting life insurance can give you and your spouse the peace of mind of knowing that your child will be taken care of should tragedy strike. In fact, the life insurance policy would likely have a bigger impact if you were to pass away while young as opposed to in your golden years after you've spent a lifetime accumulating assets that your children can inherit. Better Financial Investment If you are buying permanent life insurance, you can obtain cash value for the policy. Much in the same way that a young person will have more years to earn interest on an investment in the stock market as opposed to waiting until they are older, an early life insurance purchase will allow you to draw interest for a longer period of time. This can help offset the cost of the policy a bit, and the younger you start, the better overall value you will end up with. Life insurance is something that everyone with a spouse or child should have. That said, don't wait until the twilight of your life to start planning for how your loved ones will take care of themselves when you are gone. Buying life insurance while you are younger will help keep your costs down, could potentially earn you more interest over time, and can help give a young family some financial protection when they need it the most. Contact a local provider, such as All-Coverage Insurance Ltd life insurance, for further...read more
College Students Who Can't Afford Auto Insurance: Lower Your Bills With These Tricks
If you are a broke college student and you can barely make your auto insurance payments, you need to make sure you're claiming all of your discounts. There are a lot of different discounts you may be missing out on because you don't know about them, or you don't know that you qualify. If you have recently became a better student, you have moved out of the dorms into nicer housing, and you want to put some time into improving your driving, you can cut down those monthly insurance payments. Here are a few things to consider. You've Improved Your Grades Did you go from an average student to making the dean's list? If you did, that you could help you get a discount on your auto insurance coverage policy. If you are getting good grades, some insurance companies will allow you to utilize the good student insurance discount until you are 25 years old, so make sure you keep studying so you can keep saving. Providing New Housing Arrangement If you have moved and you no longer live on campus where there are hundreds of cars crammed into a parking lot and a lot of break-ins, to an area where there is a low crime rate, call your insurance provider to talk about the relocation. If your car is in a safer area and less likely to experience vandalism or get broken into, your rate should go down. If you have sheltered parking and even security, this should also help you get a lowered rate. You Take a Defensive Driving Course A defensive driving course is a program that teaches you how to drive avoid a collision, and how to avoid poor drivers on the road. Taking this course can earn you a discount on your auto insurance, and you can usually take the course online. Sacrificing a short amount of time to take this course will not only make you a better driver, but help keep money in your pocket. Talk with your auto insurance agent to see if they think you can do more to save. You may be missing out on a paperless discount, where you get your statements electronically instead of in the mail, or a low mileage discount, if you don't drive very far throughout the year. Don't waste any more money that you don't want to spend on high auto insurance rates, and look for these...read more
Why You Need Product Liability Insurance For Your Small, Self-Run Business
Many people have small businesses they don't even think of as businesses at all. If you're producing anything, selling it, or giving it away, you're creating liability. That's why you should consider product liability insurance to protect yourself. Even if You Don't Think You Need It You may not think you need product liability insurance for your business for many reasons. You run what you consider a tiny business, with few customers You don't make many sales; your business is more like a hobby You didn't know what you did was a business If you make something and it goes from your hands to another's, you are running a business. It doesn't matter if it's just you, or if it's you and others. It doesn't matter if you profit or not. The point is, you create a whole world of liability by engaging in a transaction. For example, If you produce small buttons made of yarn, and someone finds some kind of way to hurt themselves with it, that person can sue you. It doesn't matter if you sold it, gave it away, or if the person received it as a gift from someone else. If you make cupcakes in your own kitchen and sell them for a pittance at a church or work, and someone becomes sick after eating one, they can sue you. You hold liability, and you have to remember that. Your business, even if you don't consider it as such, is a sole proprietorship. That means, unlike a corporation or other business structure, you personally hold full liability. What Can Someone Sue You For? When it comes to product liability, charges against you can fall into three categories. Manufacturing or production flaws – When a flaw during manufacturing or production causes personal or property damage. For example, if you produce a button with a bent needle that some unsuspecting person pokes themselves with, or if you bake a cupcake and accidentally include the wrong ingredients, this can be considered flawed manufacturing. Design defects – When the design itself just isn't safe. For example, if you create a button where the pin is made from a toxic metal, or if you bake a cupcake so thick it can cause someone to choke, this can be considered a design defect. Defective warnings or instructions – When you supply warnings or instructions with your product that don't adequately outline the possible dangers associated with that product. For example, your button says, "pin the button safely to avoid possible harm," but doesn't say how to do so or your cupcake packaging says "Eat responsibly to avoid choking," but there's no indication of what eating something responsibly means — these can be considered defective warnings. As you can see, someone can fall victim to one or all three of these. They can sue you for each one, and they may win. That's why you need product liability insurance, from a company like Dennis Homeniuk Insurance & Financial Services Inc Commercial Insurance, to protect you. Only One Small Part of the Package Product liability insurance is only a part of a larger general liability business insurance package. Sometimes business insurance packages do not automatically include product liability. Make sure yours does, or add it separately. If you have a small business, even a tiny one, you should...read more
Pets And Auto Insurance: What You Need To Know As A Driver
Do you take your pup to the dog park a lot? Are you concerned about taking your cat to the vet? What happens if you get hit by another driver — will your auto insurance help? And what if your accident was your fault? Pets and auto insurance are a complicated subject that many drivers forget to think about. It's important to realize that pets are not covered under "medical" coverage. What else do you need to know about auto insurance coverage for pets? Does Your Auto Insurance Cover Your Pet? The simple answer: if you have to ask, it probably doesn't. Auto insurance does not generally cover pets. It's a special add-on that you need to ask for. So if you aren't certain whether or not your auto policy will currently cover your puppy or kitty passenger, it's very unlikely that you had asked for it. Not all companies even offer pet insurance as an add-on, so if you're committed to getting it you might have to switch companies. How Much Will My Auto Insurance Cover? Unfortunately, most auto insurance policies, even with the pet coverage add-on, have quite a low cap on what they will cover. The amount is usually under $1,000. For an emergency veterinarian visit, this may not be enough to make a significant dent in the bills. There are insurance companies that will offer more, but you may need to shop around with the help of an agent. How Much Will Their Auto Insurance Cover? What if you get struck by someone else? In this situation, your pet is generally considered to be property. Your pet's injuries will come under the property damage section of the other person's insurance coverage. So if you're not at fault for an accident and your pup is injured, it's likely that you will fare better than if you were at fault. Further, if the other person wasn't insured against property damage, your insurance company's underinsured motorist coverage should kick in. Conversely, if you hit someone and their pet is injured, they will be reimbursed for the injuries through your property damage coverage. If you're really concerned about the possibility of something happening to your pet, you might want to consider purchasing pet insurance. There are pet insurance policies that only cover preventative visits and there are others that will also include emergencies. But if you also want your auto insurance to cover your pet, you should inquire with your insurance agent to find out...read more
New To Canada?: What You Need To Know About Auto Insurance And Driving
Auto insurance in Canada varies widely from province to province. The only things that are universal are the government's requirements that every driver have insurance and that every driver carry a "pink" insurance card as proof of insurance. The rest of the auto insurance business is left up to each province's decision to involve the government or allow private insurance to cover drivers. If you are moving to Canada, you should be aware of how auto insurance works in each province and how it can affect your licensing and ability to drive. Provinces That Rely on Publicly Owned and Government Operated Insurance Corporations: 1. British Columbia An insurance corporation called ICBC provides auto insurance to all British Columbia residents. This corporation covers many of the potential problems auto owners and operators encounter, including theft and vandalism. The provincial government of British Columbia owns and operates this corporation and requires all drivers to provide proof of insurance before you can receive your Canadian driver's license or trade in your American license for a Canadian one. 2. Saskatchewan Like British Columbia, Saskatchewan Government Insurance and its affiliate, Saskatchewan Auto Fund are both owned and operated by the provincial government. They provide residents with auto insurance, but it is compulsory, just as it is in BC or Manitoba. 3. Manitoba Manitoba Auto Insurance/Autopac provide Manitoba residents with the compulsory, publicly owned and government-operated auto insurance. There are severe penalties in Manitoba if you are pulled over by the police and do not have proof of insurance. As with BC and Saskatchewan, you have to show your insurance card before you can receive your license. Ergo, if you are driving without insurance, then you are probably driving without a license as well. A Mixture of Public and Private Auto Insurance: Quebec The Quebecois are free to choose a private insurer for their auto insurance. However, the provincial government covers all personal injuries in the event of an accident. This province has a mix of private and public insurances, so be sure to check your policy for adequate coverage in and out of the province. (They are the only exception to the public or private insurance rule.) Strictly Private Auto Insurance Provinces: Alberta, Ontario, Nova Scotia, New Brunswick, Labrador and Newfoundland, Prince Edward Island, Nunavat, Yukon, and Northwest Territories These remaining Canadian provinces and territories all rely on private insurance to protect their vehicles. If you live in any one of these, your choices are vast. There are over three dozen private insurance companies to choose from, giving you multiple options and multiple types of coverage. Some of these insurance companies have holdings in the U.S. as well, which could allow a smooth transition over to a Canadian policy if you already have an American policy with one of these companies. Your American Insurance and Coverage in Canada As a visitor, your American auto insurance covers you regardless of what happens. When you apply for Canadian citizenship or dual citizenship, your American coverage will protect you for a short time until you make the transition over to Canadian auto insurance. You may also choose to keep your American insurance if you plan on traveling between countries a lot, since Canadian insurance will only cover you as a visitor in America. Contact a company like Diamond Insurance Agencies for...read more
5 Tips For Staying Protected With Used Car Insurance Without Paying A Fortune
Staying safe on the road means getting car insurance that will help protect you in the event that you're involved in an accident. A lot of people make the mistake of buying a used car without looking into car insurance, resulting in them paying more than they can comfortably afford. If you own a used car or are currently shopping for one, there are a number of unique things to consider so that you can get the coverage you want at a good price. Consider Car Insurance Before Buying The reliability and age of a car has a lot to do with how much it will cost to insure the car, making it important to research insurance rates before buying a used car. While this won't be helpful if you already have the car, doing this extra bit of research can save you a significant amount of money on how much you pay for insurance. Do Your Best to Practice Safe Driving If you've been involved in a car accident, you could be paying far more money on insurance than the average driver with a clean driving record. Remembering to stay safe while on the road, including following the speed limit and using turn signals, can lead to savings on your insurance since it can prevent accidents and getting tickets that could affect your insurance rates. Take Care of Your Car with Routine Maintenance Staying safe on the road includes more than just safe driving techniques. Skipping important maintenance services, such as replacing old tires or getting an oil change, can lead to being involved in an accident due to problems with your car. Routine maintenance can help eliminate these concerns and keep you safe while driving. Adjust Your Coverage for the Value of Your Car If you own a used car that's 10 years older or more, it could mean that your car isn't worth the amount that you would receive if the car is totaled. Adjusting the insurance coverage for the value of your car can help provide significant savings without any harmful consequences. Look Into Additional Insurance Discounts Most insurance companies offer numerous discounts to drivers, including savings for students, married couples, or those with multiple cars. Inquiring about all the discounts available can help lead to the lowest insurance rates possible. Owning a used car can mean lots of savings right away, but you'll need to put a lot of work into finding an insurance plan that works for you. Taking the time to find an insurance plan with the coverage and savings that you want can help you get the best plan for your needs....read more
What You Need to Know about Home Insurance and Personal Liability
Did you know that if someone is injured at your house, you could be liable? This person could file a personal injury lawsuit, and you might be responsible for all of their care. This is why it is important that you make sure that you are taking extra precautions to protect yourself and your property. One of the best ways to do that is to make sure that your homeowner's insurance policy covers accidents. Here are a couple things you need to know about homeowners insurance. Will a Standard Policy Cover Accidents In the Home? In most situations your standard policy should cover parts of an accident that happened on your property. For instance, most policies have first party coverage and third party coverage. This means that if something happens to the people living inside the house, you should be covered. For instance, if you slip and fall in your own house, you could make a claim through your homeowners insurance to help pay with your medical bills. If a third party, such as a guest at a dinner party is injured on your property and they sue you, you might also have coverage for this. Who Does a Standard Policy Cover? In most situations a homeowner's policy will cover people living in the house, invited guests and employees. So if your nanny or maid is injured while on the property, you could access your policy to help with their medical expenses. In most situations independent contractors are not covered. For instance, if a plumber is injured on your property, you policy might not cover them. However you can buy an additional policy that will help you to cover anyone that is on the property. This policy will only come into affect if the standard policy has been exhausted. This is why it is important that you have both a standard policy and the umbrella policy as well. How Much Coverage Do I Need? It can be hard to know how much coverage you need to protect yourself. Most experts say that personal injury lawsuits stop somewhere between $300,000-$500,000. For this reason, you should try to get coverage that is around this much. However, you can always opt for more to make sure that are protected and that you don't have to pay too much out of pocket. By following these tips you can make sure that you have a good homeowners insurance policy {from firms like Cambridge Insurance Brokers (Preston) Ltd} that will protect you in the case of a accident at your...read more
Home Insurance: Why Yours Is High And What You Can Do
Your home is a valuable asset, but you may be paying too much for your insurance policy. There are things that could be causing high insurance rates that you don't know about, and you could be missing out on a variety of discounts. If you don't shop around for new insurance annually, you should, because there are often deals you can get just for switching. Here are a few things to consider, and try, to get a lower homeowner's insurance rate. Check Your Credit If you have bad credit, this could be costing you. The insurance companies worry you may not make your payments, so they charge you a higher rate. Fixing your credit or looking for inaccurate blemishes that can be removed can help you boost the score quickly. Do these before you start shopping around for new rates and a new policy. Make a List of Improvements Does your current insurance provider know about updates you've made to the home? Have you gotten a new roof, new hot water heater, new furnace, or added a home security system? These are all changes, along with many others, that can lower your rate. Make a list and send it to your current policy provider to see if they will lower your rate. If you are filling out new applications, talk with a representative about these things so you can get a lower rate on your new policy. Utilize Online Savings Possibilities Many insurance providers will give you a lower rate just because you filled out the information and agreed to your policy online. They will also give you a credit or discount if you choose to get all of your statements via email, instead of in the regular mail. They can lower costs when they don't have to print statements, pay for mailing supplies, and pay for postage. These tactics can help you save money with the company that you are already using, and also with new potential home insurance providers. If you think your insurance policy costs far too much money, comparing other companies will allow you to see what your rate could be. Get the quotes from opposing companies and show them to an agent from your current provider, to see if they will match the rate for you or go lower, and then you don't have to switch companies. Get the best protection for the lowest rate. For more information, contact a company like Idris Insurance Brokers...read more
Making Auto Insurance More Affordable
Auto insurance is an important thing for anybody who drives a car. If you are responsible for a car accident, auto insurance will help make sure that everything can be paid for so that you are not personally responsible for damages. Unfortunately, auto insurance can be somewhat expensive if you do not know what you are doing. In order to make auto insurance something that is more affordable, there are certain things that you can do and that you can control. 1. Discounts. In the world of auto insurance, it seems like there are discounts for almost anything. You can get discounts if you cover multiple cars, if your car is energy efficient, if you are a student and get good grades, if you have been with the same insurance company for many years and much more. You can take advantage of many different kinds of discounts that can drastically reduce the price of your auto insurance. 2. Avoid Tickets. Getting speeding tickets and other kinds of traffic tickets is one of the quickest ways to raise your insurance premiums. When you get a speeding ticket, it demonstrates to the insurance company that you are more likely to be a reckless driver and have a greater likelihood of getting into an accident. 3. Avoid Convictions. Another sure fire way to get your insurance premiums raised is to be convicted of a crime such as drinking and driving. This also shows the insurance company that you are more of a risk. If you are more of a risk, the insurance company will charge you more because they do not want to lose money on someone that is going to harm themselves or others. For years, your premiums will be much higher than necessary, all because of the decision to drink and drive. 4. Ongoing Coverage Check. Another thing that you can do periodically is to continue to check your current insurance coverage and compare it to other insurance plans. By constantly checking new plans, you can potentially find better coverage at a better price. Insurance is constantly changing and it can be beneficial to find a new company that offers better coverage and services. These are just a few of the things that you can do to make sure that you are getting the best coverage for the most affordable price. By being a safe driver you will not inflate your insurance premiums and will be able to get the best deal...read more
What Is Cyber Liability Insurance And Who Needs It?
Just about any company with an online presence could potentially stand to benefit from cyber liability insurance. With the increasing importance of the Internet and data storage via "the Cloud" in every industry, companies are at risk of data breaches that could lead to catastrophic financial and legal consequences. Business owners need to be aware that running a website qualifies a company as an online publisher, and being considered a publisher brings with it certain liabilities. Not only will cyber liability insurance cover liabilities that arise from published content on a company website, but it will also cover other first- and third-party risks related to doing business via the Web, including intellectual property, privacy, and computer virus transmission issues. Who needs cyber liability insurance? The determining factor in deciding whether or not a company needs cyber liability insurance is the sensitivity of company data stored via the Internet or any other type of computer network. Any such means of storing company data could be compromised by attacks from hackers or system malfunctions. If data and information are a company's most significant assets, cyber liability insurance is probably a good idea. The following are five of the most convincing reasons for a company to acquire cyber liability insurance: Increasing prevalence of cyber crimes– Cyber crimes are on the rise, and their frequency is only likely to increase as more companies begin storing sensitive information via the Cloud. The potential damages of having information like client bank account or credit card information stolen makes cyber liability insurance an absolute necessity for many companies. Importance of maintaining a good reputation– Cyber liability insurance not only provides coverage to handle financial damages, but it can also fund a public relations campaign intended to minimize any negative impacts a security breach has on company reputation. Inevitability of malfunctions– Even if companies avoid cyber attacks, they are sure to experience system malfunctions or hardware/software malfunctions at some point that could compromise data and decrease profitability. One of the most important advantages of cyber liability insurance is coverage for this potentially very costly inevitability. A cyber liability insurance policy generally covers a wide range of liabilities left out by standard business insurance policies. However, each policy is different. As cyber liability insurance is a relatively new concept, there is a great deal of variation in what can be included in this type of policy. Companies can usually negotiate with insurance providers, like Meyers Renter Insurance, to have cyber liability policies tailored to their unique...read more