Types Of Insurance Archives

How Much Is Flood Insurance? Myths You Need To Know!

How much is flood insurance? And, do you even need flood insurance for your home or business? The answer may surprise you. This insurance is a very beneficial type of coverage that is useful for both commercial and residential property owners. Floods can cause significant amounts of damage to any type of property, and this damage can lead to thousands of dollars in losses. Flooding occurs more often than tornadoes, earthquakes, or hurricanes. Between 2005 and 2014, flood insurance claims averaged more than $3.5 billion per year. The best thing to do is to take preventative action by choosing a insurance policy to have coverage before disaster strikes. This article covers this particular type of insurance, how much is flood insurance, and … Read more

How Is Courier Insurance Important?

by Guest Contributor

Liability is something that cannot be afforded when it comes to courier delivery. Thus in the courier business, an important step of purchasing courier insurance must be taken to ensure that the goods transaction is risk free on all fronts. That step is Courier Insurance.

Huge fleet and chain of operators, sub-contractors and single operators, everyone must make this one time investment in courier insurance and also make an informed choice when it comes to drawing the budget and selecting the policy best suited for the business.

First the understanding of the importance of courier insurance is necessary before the investment is made, so that no doubts are involved. The important point to be kept in mind is:

If any damage occurs to the goods that are to be delivered via courier, it is the responsibility of the courier operators to pay for the loss. The costs may hamper the courier services to a huge extent and a situation may also arise that the courier operators cannot afford to pay for the losses.

That is when Courier Insurance plays an important role. There is minimum repercussions and maximum damage control. Courier insurance covers the three essential fronts of a courier service: goods, vehicles and public liability. Thus courier insurance is an overall package that includes the following sub-policy of insurances:

Vehicle Insurance
Goods In Transit Insurance
Public Liability Insurance

The importance each sub-policy can be stressed further:

Pros and Cons of No Exam Life Insurance You Need to Know

by Jeremy

If you have been holding off on getting life insurance because you were worried about the exam that precedes a policy approval, there is good news for you. Not every kind of life insurance requires that you go through the exam procedure. Before you commit to no exam life insurance, you should be aware of all the pros and cons of doing this. Read on to learn more about these policies and whether it might be the right fit for you. Pros of a No Exam Life Insurance Of course, the process of applying for this life insurance is easier because you don’t have to go through the exam. This often eases a lot of your fears about the application and … Read more

Different Types of Insurance Available

by Guest Contributor

Insurance is a financial product in which companies that offer it will take on some form of monetary risk in return for the payment of premiums. There are many types of insurance that you may want to consider purchasing to protect yourself and your family.

An individual will typically invest in it to guard against having to pay out a large sum of money for common problems that may occur. Being insured gives peace of mind that should disaster strike, the financial implications of this can be dealt with and some of the common insurance products available include the following.

Life Insurance

No one wants to think about dying although all adults need to consider the problems this can leave for family members. This is especially true for those that are breadwinners, and life insurance is designed to pay out a sum of money in the event of the insured person dying.

This is most commonly paid to a family member and is a way for someone to ensure their loved ones are provided for in the event of their death. Contacting a company that offers this is a way to get life insurance quotes that will show how much money can be obtained for different premiums.

Property Insurance

Anyone buying a home or business premises will usually have to get property insurance as part of the deal for receiving a mortgage. This type of business insurance can have a few elements to it, with the two most common being building and contents.

The building part covers for the cost of damage to the property caused by fire, flood, and other disasters. The contents part covers for the loss of the property owner’s belongings due to theft, vandalism, or damage.

Benefits Of High Deductible Health Insurance Plans

by Hank Coleman

A high deductible health insurance plan is just like what it sounds like. It is a health insurance plan that has a high deductible and is designed to provide for catastrophic coverage in case something happens to you. It is a viable option for people who are struggling to find health insurance at a reasonable price.

How High Deductible Health Insurance Plans Work

High deductible health insurance plans usually have lower premiums and higher deductibles than standard health insurance plans. Usually high deductible health insurance plans are part health savings account (HSA) plan.

Most high deductible plans usually include some “wellness” benefits for free such as routine physicals and flu shots. But, that is not where high deductible health insurance plans earn their bread and butter. Beyond routine wellness exams, high deductible plans typically only kick in once the deductible is met. However, the maximum deductible is set by law. So, you know what you will have to pay.

Not Living At Home? You May Need Vacant Home Insurance

by Hank Coleman

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 it has been vacant for over 30 days in most cases (60 days with some insurers), you need to have a different type of homeowner’s insurance policy protecting your structure.

Vacant homes are often the target of vandals, thieves, and other criminals. And, vacant homes are also subject to burst pipes, flooding, and possibly fire without you realizing it because you are not there to check on your property.

Vacant home insurance is often a higher cost than your typical homeowner’s insurance that you have been paying while actually living in the home. Do not make the mistake of not informing your insurance company of the change.

Doing so can be grounds for denying a claim if you have to file one. Or, you could even face a cancelation of your homeowner’s insurance policy.