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Home Insurance Explained to Help Protect Your Largest Asset

Home insurance is an essential expense, given the exorbitant cost of living in this present world. After having to invest heavily in a new house, it is important for homeowners to plan for any unexpected repairs that may be required to ensure the structural stability and usability of the house. It is also equally important to secure personal possessions at all times. There are several types and levels of home insurance spanning coverage for the structure, contents, utilities, natural disasters and so on. The value of the policy varies and is usually based on the nature and extent of cover opted for. While the responsibility of insuring the building or structure largely lies with the owner of the property, insurance … Read more

What You Need To Know About Parties And Your Homeowners Insurance Policy

by Hank Coleman

What you need to know about house parties

Your house parties can be extremely fun events. You get to have a bunch of friends over, chat about old times, maybe you have a band, and you do some dancing! However, whenever you have events at your home, you open yourself up to more liability. It can come in many forms, but you need to make sure that you protect yourself from liability. House Parties Increase Your Liability By having guests in your home, you expose yourself to liability. This can come in many forms. For example, someone could slip and fall and injure themselves at your home. If you have catering, someone could get food poisoning. Finally, if alcohol is served, you could be liable for injuries even … Read more

Reader’s Question: How Big A Party Is Too Big For Your Home Insurance?

by Hank Coleman

Here is the next installment in our the Reader’s Questions Series which highlight questions emailed to me by you, the readers of Money Q&A. Be sure to find out at the end of this article how you can receive a free copy of Dave Ramsey’s book, The Total Money Makeover if your money question is chosen to be featured in an upcoming week’s blog post. If you’re not familiar with Dave Ramsey’s book, you should run right out and get it. It is one of my top ten best personal finance books that everyone should read. Now….on to our reader’s question. How big does a party have to be to get excluded from you home insurance coverage? Or, what other factors determine your home insurance coverage? There … Read more

Serendipity in Your Career

by Guest Contributor

The following is a guest post by Neil J. Farber, MD, the author of Serendipity. Utilizing Everyday Unexpected Events to Improve Your Life and Career., where Dr. Farber explores the profound role that happy accidents have played in the creation of many things we take for granted, and takes it one step further to teach readers how to recognize serendipity and turn it into something meaningful. If you’d like to contribute a guest post to Money Q&A, be sure to check out our guest posting guidelines. Most people think of serendipity as a monumental discovery or invention recorded in historical texts, and occurring as chance or luck. The truth is somewhat different. Whereas luck just happens to someone, serendipity is … Read more

Insurance Companies Canceling Policies Might Not Be a Bad Thing

by Hank Coleman

I saw a segment on the news recently that highlighted a family whose insurance company had canceled their renters’ insurance policy. The family in question filed two claims against their policy over the holidays after burglars broke into their home before Christmas and again just before New Year’s. As a result, their insurer dropped them. Of course, the timing was horrible, and the local media covered the story exhaustively. But I’m glad the insurance company canceled their policy, and you should be happy, too. Here’s why: What are the odds of a family having two robberies in such a short span of time? It’s very unlikely. In fact, such unusual circumstances are strong warnings of potential fraud. And while I don’t … Read more

How to Turn Down Family Members Who Keep Asking for Money

by Hank Coleman

A wise person once said, “Most stress is caused by three things: family, money, and family with no money.” Family means the world to a lot of us, but when they start asking for money, that’s when things start to get complicated. A recent study found that over a third of respondents said that money was the primary cause of friction in their relationships, and stress in any relationship can be detrimental. Whether your spouse is bad with money, a family member was hit hard by unexpected financial setbacks, or a friend keeps asking you for money to get by (or possibly fund an addiction), there are a few things you should consider when a loved one seeks financial help from … Read more