6 Must Have Policies For A Happy Living | MoneyTips

http://www.moneytips.com/ - This video by MoneyTips highlights the importance of Insurance. Most of the American families are either uninsured or under insured and they constantly live in danger of being helpless in case of a disaster.

Avoid these Blunders when Selecting an Insurance Service Provider

Have you ever wondered how to choose the right insurance service provider? Are you confused about the sugary claims the insurance companies make to attract new clients? Here are some things that you should avoid when selecting an insurance service provider –

• Most people make the mistake of going for an insurance service provider without doing proper research about the policy. When you are buying the insurance policy, it is extremely essential that you compare different insurance companies before selecting the one that suits you the best.
• Whether it is life insurance, disability insurance or natural disaster insurance, it is imperative that you talk to your insurance agent about your objective of getting an insurance policy. Most people ignore this fact and opt for insurance which they feel is the best for them.
• Ignoring your finances is another major mistake people make when choosing an insurance service provider. For instance, your personal insurance policy might cover travel related aspects in your country, but it may, or may not be beneficial if you are traveling abroad.

Insurance is a matter of great importance and therefore every aspect related to it should be considered in order to select the best policy and service provider for you.

Prepare Yourself for the Next Storm

Nature is unpredictable and you never know what might happen with you or your property any moment. Our planet earth faces the wrath of nature from time to time and every now and then we hear the horrendous news related to the storms destroying the whole of cities. Although homeowners and businesses protect their property with storm insurance, it is imperative to understand the coverage of the storm insurance policy so that they get a shield from every type of damage caused by storms.

Storm and bad weather can shake the complete foundation of a building. People go to any lengths to prevent their homes from storms and flooding. However, they forget the significance of getting insured with proper storm insurance. Most homeowners are under the misconception that their normal homeowner's insurance will be all that they need in case of a natural disaster.

However, homeowner’s policy does not provide complete protection against the losses incurred by storms. To ensure that you do not have to reel under a financial strain in the repairs, protect your property with storm insurance today and say goodbye to stress and sleepless nights.

Why it is Beneficial to Buy International Travel Insurance?

Majority of us while traveling to a foreign location are concerned about the hotels, important places to see and the complete itinerary. When traveling abroad, your belongings are not the only things that you must be concerned about. Any individual who is traversing the physical boundaries of another country should also be concerned about his/her health. This is the reason why anyone traveling abroad must have international travel insurance.

If you have an insurance plan in your home country, it may or may not offer coverage outside your native country. Even if your health insurance policy offers cover outside the physical boundaries of your nation, they are very limited. Furthermore, the coverage provided under your health insurance might cover only the emergencies. However, these emergencies are defined by various service providers differently.

The first step in buying international travel insurance is checking with your existing health insurance provider about what is covered in it. Check with the international travel insurance providers about the various plans and buy the one that offers enough coverage for various sicknesses and any medical conditions that you might suffer from.

Buy an international travel insurance policy and make your travel even more pleasurable.

Storm damage? Will your insurance pay

Check out what storm insurance policy holders can look to insurance companies for help?

Homes: Storm damage should be covered by your home insurer. Most operate 24-hour emergency helplines, and you should call them before you do anything. Note, householders are obliged to try to minimise their losses, which means getting in an emergency glazer, or other work done such as shoring up a roof, to keep the weather out. Insurers will advise on this.

Cars: Don't take your car through anything more than a few inches of water. If you must, drive extremely slowly (under 5mph), in first gear, and using high revs. Car insurers are braced for a surge in claims after the storms left many roads underwater.

Travel: Train and air travelers whose trains were cancelled as a result of the weather and they didn't board are entitled to a full refund. If you were on a substantially delayed train you can fill in a compensation form and you will get all, or some of, the ticket price back, depending on the length of the delay.

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The World's Most Expensive Homes

 

From Buckingham Palace to Hugh Hefner's PlayBoy Mansion, this infographic highlights the most expensive homes across the globe.

However, every home deserves protection and its good to get homeowners insurance schedule to be on safe side.

Source

Renters Insurance and Why do You Require it?

Most people who rent a house or an apartment are of the view that their landlord’s insurance will keep them in the safe waters when some unwanted situation arises. However, in reality, landlord’s insurance only offers a cover for the building, making your belongings vulnerable to damage. It is therefore extremely critical to get your belongings insured with renters insurance.

Your location and the weather conditions would also play an important part when taking renters insurance. If you stay in am area where you are skeptical about the safety of your belongings, it is advisable to go for a full home insurance. Apart from this, if you stay in an insecure neighborhood where thefts are common, taking renters insurance will also provide you cover from those.

As a homeowner, you must decide on which items to insure. You can go for a complete cover or can insure just the valuables in your home. When taking renters insurance, you have to keep in mind that it does not cover all the damages. If you stay in an area prone to floods, it is advisable to take additional cover as your renters insurance might not include that. Check with your insurance provider and read what is included before buying renters insurance.

Do not Let Foreclosure Strip You off Your Home

A lot of people in the US are being affected by foreclosure and this virtually ends their dream of owning a home. In those unfortunate circumstances, when a homeowner fails to pay the monthly mortgage, the property is foreclosed. This could be due to a loss of job, or income source, or an increase in the interest rates, which can make it difficult for the homeowners to make the monthly mortgage payments.

Foreclosure is not a happy situation as it not only strips a homeowner off his house, but it also makes it difficult for the homeowner to apply for loan and buy a home in near future. Moreover, the emotional stress of letting go of your house is something that no individual would even think about dreaming. If you are speculating that you might not be able to make the mortgage payments on time and fear that your house could be forfeited, here are a few options that can help you avoid foreclosure –

• Forbearance
• Repayment
• Loan modification and re-finance
• Short sale
• Bankruptcy

Foreclosure is not the end. You should communicate with the lender and financial advisors to come out with a plan that can save you from it. Contact your financial advisors and keep alive your dreams of owning your own home.