Spotting fraudulent insurance claims is an important job for most insurance companies. The mounting losses from false and fraudulent insurance claims reported by customers can reach into the billions of dollars each year. Money lost from fraudulent insurance claims comes directly out of the insurance companies’ coffers and results in an overall insurance cost increase for honest customers. Many people mistakenly think that they can get away with filing a false claim, but the insurance industry watches claims … [Read more...] about Insurance Companies Can Easily Spot Fraudulent Insurance Claims
Home Insurance
How to Prepare Your Finances and Home for Hurricane Season
The Atlantic hurricane season runs from June through November. August and September see the worst of hurricane season. According to the Weather Channel, August sees more than three times the number of storms as July, and it keeps building in September.
September is the peak time of the year for hurricane season in the United States. And, most insurance companies require you to have homeowner’s, renter’s, or flood insurance for at least 30 days before your coverage kicks in and you can make a claim. So, now is the time to look at your … [Read more...] about
Affordable Home Insurance Checklist – Are You Paying too Much?
Periodic review of our personal finances extends to many areas. Portfolio rebalancing helps your investments match changing time horizons and risk tolerances. As our families grow or coverage options change, we must review our health insurance for the best choices. Home insurance is an essential cost that may not receive the same attention. Houses are not as dynamic in comparison to investments or healthcare. Unless moving, many homeowners rarely check their home policies. However, checking your home insurance coverage for overlaps or … [Read more...] about Affordable Home Insurance Checklist – Are You Paying too Much?
Understanding and Saving Money on Homeowners’ Insurance
The following is a guest post from Pete Briger. Pete serves as a Principal and Co-Chairman of the Board of Directors at Fortress Investment Group LLC. Fortress has become one of the preeminent investment management firms in the world and currently oversees more than $50 billion in assets. If you would like to write an article for Money Q&A, please visit our Guest Posting Guidelines page. It pays to fully understand the types of homeowners’ insurance out there so that you can decide on the policy that is right for you and your family. By … [Read more...] about Understanding and Saving Money on Homeowners’ Insurance
Filing Too Many Small Claims Can Hurt You
You purchase home insurance to protect yourself if something major goes wrong such as a pipe that bursts, there is a fire, or some other peril. In fact, most mortgage companies require you to have homeowner's insurance if you have a mortgage on your house to protect their stake in your home as well. However, insurance companies are not in business to pay out too many claims. They would quickly find themselves out of business if they did that, and they take a negative view on customers filing too many claims in a short period of time as well. … [Read more...] about Filing Too Many Small Claims Can Hurt You
Not Living At Home? You May Need Vacant Home Insurance
I didn’t realize that my wife and I may need vacant home insurance after deciding to become landlords until a family member mentioned it. You are at risk of violating your homeowner’s insurance policy if you move out, no one is living in your home, and you do not have the right insurance coverage. You run the risk of having a claim denied because you did not keep your insurance company informed of changes to your situation. What Is Vacant Home Insurance? Vacant home insurance is just what it sounds like. When you move out of your home and … [Read more...] about Not Living At Home? You May Need Vacant Home Insurance