Car Insurance, Insurance, Personal Finance, Types of Insurance

What Are The Types of Car Insurance?

Car Insurance
Nothing compares to your “first set of wheels”, no matter how many years that you are a vehicle owner.  Everyone remembers their first car, whether it was a hand-me-down from Dad, or an old clunker you got dirt cheap that ran.

The biggest downer about owning your first car, or your current car for that matter, is not the amount of money you must pay for maintenance and gas for the vehicle, but the funds you expend to insure it.

But today’s cars are not your Dad’s car from back in the day.  He may have just buffed out a mark where someone keyed the car or nicked the bumper.  Today, just a wayward grocery store cart that slammed into a tail light or a minor or major collision may not only mess up the exterior of the car, but the electrical system may also be in peril too, thus repair costs will skyrocket.  That is why you should be wise about what type of coverage you need for your vehicle.
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Insurance, Insurance Deductible, Insurance FAQ, Types of Insurance

How Does an Insurance Deductible Work?

Insurance DeductibleThe beginning of the New Year is not just a time to state your New Year’s resolutions (most of which will probably be broken with a few weeks), but, it is a time to begin your new yearly healthcare insurance deductible.  Your healthcare deductible, as you know, is the amount you owe for covered healthcare services before your health insurance plan kicks in and begins to pay. As an example, if your healthcare insurance deductible is $1,000.00, your plan won’t pay for anything until you’ve paid $1,000.00 out of your own pocket for covered services.  There are exceptions to the rule in that some plans pay for certain health care services before you have met your yearly deductible.  For those blessed with good health, they may never reach their yearly deductible, especially if the deductible is high, where others may have racked up doctor visits, laboratory or prescription charges and will have met their deductible early on in the calendar year.

Deductibles for health insurance are much different than that for car insurance and home insurance… sure, you must inevitably pay out of your own pocket until your deductible is met, but, the biggest difference is that the deductible does not begin anew each calendar year.  Deductibles for property damage works differently than a typical health insurance policy with its single annual deductible for the policy.  With an auto or homeowners insurance policy, the deductible applies each time you file a claim. The one major exception to this is in Florida, where hurricane deductibles specifically are applied per season rather than for each storm.

Since, most people have a basic understanding how health insurance deductibles work, let’s look at this topic as it applies specifically to car and home insurance.
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Car Insurance, Health Insurance, Homeowner's Insurance, Insurance, Types of Insurance

What Type of Insurance Do I Need?

Types of Insurance

When you were a kid, your mom probably told you never to leave home without some Kleenex and enough change to make a phone call in case you got into trouble.  Back in the day, two dimes would do it, and maybe carrying an extra two dimes in case you fumbled and dropped the first pair and couldn’t find them.  Now most people carry a cell phone so carrying spare change is not a necessity, but the Kleenex…. well, that still makes sense today.

Just like being prepared with tissues or spare change for those daily little issues, having insurance policies in place will thwart most of life’s calamities and you will emerge from those times better for your preparedness.

“Fortune favors the prepared mind” -Louis Pasteur
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Health Insurance, Insurance, Insurance Brokers, Types of Insurance

What Are The Types of Health Insurance?

Types of Health Insurance
If you are a worker bee, like the majority of Americans who have health insurance, your workplace picks a plan and you just basically go with the flow; if you’re lucky, the plan includes dental and optical as well, and, if you really lucked out, there is a disability policy in place for you too.

If, however, you are a single subscriber because you are in business for yourself, or have lost your job and must obtain health insurance, there are wide range of options out there to choose from.  In the past, if you couldn’t afford it, you might have gone without health insurance, but, since the advent of the Affordable Care Act (“ACA”) or “ObamaCare”, it is the law that you must have health insurance in place or pay a fine.

Below are some salient points to help you muddle through understanding the various types of insurance – remember that you can always make it easy on yourself, by consulting with someone whose skill and expertise in the insurance field will make the choices easy for you to understand – such a person would be John Savadjian, an insurance broker in New Jersey.  A top insurance broker like John Savadjian can go over all of your insurance needs with you and can help you choose the best plan for the best price.
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Homeowner's Insurance, Insurance, Insurance Brokers, Types of Insurance

What Are The Types of Homeowners Insurance?

Types of Homeowners InsuranceInsurance premiums may sometimes seem to be the bane of your existence, but, think of the alternatives, if you had no insurance for your vehicle or/or home and there was catastrophic damage to either one?  Your home is probably your largest asset, and, without adequate insurance in place, quite possibly, your finances could be wiped out in a matter of moments.  You often hear stories of devastating tornadoes, and, in their aftermath, you view the shocking photos of a home with only the foundation remaining and a family gathered together looking at the devastation, but thankful that their lives were spared.  When you see devastation from a tornado, a fire – or even a robbery, having good insurance in place, will help to make you and your family whole.
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Car Insurance, Insurance, Personal Finance, Types of Insurance

What Are The Types of Car Insurance?

Car Insurance
Nothing compares to your “first set of wheels”, no matter how many years that you are a vehicle owner.  Everyone remembers their first car, whether it was a hand-me-down from Dad, or an old clunker you got dirt cheap that ran.

The biggest downer about owning your first car, or your current car for that matter, is not the amount of money you must pay for maintenance and gas for the vehicle, but the funds you expend to insure it.

But today’s cars are not your Dad’s car from back in the day.  He may have just buffed out a mark where someone keyed the car or nicked the bumper.  Today, just a wayward grocery store cart that slammed into a tail light or a minor or major collision may not only mess up the exterior of the car, but the electrical system may also be in peril too, thus repair costs will skyrocket.  That is why you should be wise about what type of coverage you need for your vehicle.
Continue reading

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Health Insurance, Insurance

Health Insurance Post Obama Care

Health Insurance Post Obama CareThe official name is “The Patient Protection and Affordable Health Care Act”, but that title is usually shortened to “The Affordable Care Act” or “ObamaCare”.  It was signed into law by President Obama on March 23, 2010 and represents the most significant regulatory overhaul of the United States healthcare system since 1965 when Medicare and Medicaid were passed.
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Insurance Brokers, Insurance Purchasing Process

Questions to ask an Insurance Broker

Insurance Broker QuestionsPurchasing insurance can be a very complex process. There are so many providers and policies to choose from it’s not just a simple decision anymore and it can be difficult to choose the perfect one. When you are going through a broker it can be a lot simpler since they can help you navigate through to match your insurance needs with appropriate solutions. A broker acts as a liaison between insurance companies and customers. It’s important that you fully find a top insurance broker that you can trust. If you are not sure what types of questions you should be asking you can be clueless. Here are some key questions you should ask your insurance broker.
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Types of Life Insurance
Insurance, Insurance Brokers, Types of Insurance

Types of Life Insurance

For the top insurance broker, one question they hear frequently is about the different type of life insurance. They are often asked which type is the best and if everyone needs a life insurance policy. The primary purpose of life insurance is to protect families in the event that the primary earner in the family dies. It was initially designed for younger families who were in the phase of accumulating wealth. Early on, there’s not a lot of wealth to be had and it takes years of established employment to preserve wealth and set up the family for future years. Life insurance gives individuals a way to protect themselves and their families from exposure to personal risks such as having to pay off debts after a death, providing income for remaining family members, paying funeral expenses, or fulfilling other goals like helping to put kids through college. If a person provides the primary income for a family or are in business for themselves, life insurance can provide essential protection. It is important to know the types of life insurance available to you to help you protect your family.
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Financial Services, Insurance, Insurance Brokers

How Does Insurance Work?

How does Insurance WorkInsurance got its start during the days when cargo ships were heavily used and when they got destroyed, their cargo was lost. Merchants began dividing their cargo among a number of boats so they were not as likely to lose all their merchandise and reach complete financial ruin. This way, even if one boat was lost, merchants didn’t lose everything but were more likely to only lose a small portion of their goods. They “shared the risk” between the boats which is the foundation of the insurance industry today. Insurance is basically parties agreeing to sharing risks.
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