Umbrella Policies: Protection for a Rainy Day

Excess

Bad things happen: that’s why people buy auto and homeowners insurance policies. But America’s love affair with lawsuits means your coverage could fall short. That’s where umbrella policies come in. They provide a convenient and surprisingly affordable extra layer of protection for your key assets.

 

What happens if you are sued for causing an auto accident or your neighbor slips and falls on your property? Continue reading “Umbrella Policies: Protection for a Rainy Day”

Should You Buy Rental Car Coverage?

Travel Insurance

If your vacation plans require a rental car, knowing what your existing insurance policies cover could save you money.

 

The next time you rent a car and the agent asks whether you want the optional coverages, should you say yes or no? Buying them will add substantially to your car rental costs—if you buy all the additional coverages offered, you’ll add at least $18 to the rental charges per day. Are these coverages worth it? Read on for more information.

CDW or LDW

The collision damage waiver (CDW) or loss damage waiver (LDW) cost the most of any of the optional coverages, about $10-$25 a day. Although the CDW and LDW are not insurance, they will waive your financial responsibility if a car you rent is damaged or stolen.

When you sign a rental car agreement, you agree to become responsible for any damage to the car. Continue reading “Should You Buy Rental Car Coverage?”

Marijuana and Your Insurance

In some states, policy on marijuana has turned a full 180 from the “reefer madness” scares of the 1950s and 1960s. But have your insurance coverages kept up? Now 23 states, plus the District of Columbia and Guam, allow the medical use of marijuana. Four states, plus the District of Columbia, allow recreational use by adults. Continue reading “Marijuana and Your Insurance”

Staying Warm –and Safe

Many of us use supplemental heaters, or space heaters, to heat an ordinarily unoccupied space such as garage or workshop, to provide additional heat during cold spells or to minimize heating bills. However, incorrect use of these heaters leads to about 120,000 residential fires annually. With colder weather on the way, use the following checklist to ensure safe use of space heaters. Continue reading “Staying Warm –and Safe”

Insuring Your Boat

A survey by one insurer found that 29 percent of all boat owners did not have a separate watercraft insurance policy. This could be a mistake.

 

 

Many boat owners mistakenly think their homeowners or personal auto policy will provide coverage; however, the standard homeowners policy limits property damage coverage for boats to $1,500—far less than the value of most recreational boats. Continue reading “Insuring Your Boat”

10 Homeowner’s Insurance Problems; and How to Solve Them

The worst time to find out that you have no insurance, or inadequate insurance, is after a loss. If any of the following situations apply to you, a standard insurance program might not be enough. Continue reading “10 Homeowner’s Insurance Problems; and How to Solve Them”

Insuring Your Boat

In 2013, the Coast Guard counted 4,730 recreational boating accidents that involved 736 deaths, 3,358 injuries and approximately $36 million dollars of damage to property. If you own or regularly operate a boat, you probably need more coverage than your homeowners policy provides. Continue reading “Insuring Your Boat”

The Property Risks You Might Have Overlooked

You buy homeowners insurance to protect your home from damage or loss due to fire, theft, vandalism and more. But without certain important coverages, your policy could leave you short of the funds needed to rebuild and recover. Continue reading “The Property Risks You Might Have Overlooked”