Building insurance is simply insurance for property owners. The property may be commercial or residential in nature. It may be a ranch, a skyscraper, or a suburban home. If it is made of brick and mortar, it can be covered under building insurance. Real estate of any kind is a major investment. Even the smallest of houses can cost hundreds of thousands of dollars. For obvious reasons, you want to protect your investment as much as possible. This is where building insurance steps in. Building insurance basically covers your property in case of any damage through man-made or natural forces. This can be a storm, an earthquake, or even a fire that spread two houses down the road. Some policies also provide coverage for any loss or theft inside the property. Building insurance policies can be divided largely into three types: those that provide coverage against natural disasters, those that provide coverage against theft or loss of immovable objects inside the property, and those that offer a combination of these two. In most cases, you should try to get insurance that provides coverage not only against natural disasters but also against any loss or theft. This way, you will be covered for any losses that may happen to the immovable objects inside the property such as wardrobes, bathtubs, etc. as well as natural disasters. If its peace of mind you want, this is the policy you need. You should start off your search by requesting building insurance quotes online. There are a plethora of sites that offer this service. You can quickly look up various insurance agents in your city, and also get an instant quote online. Further, you can compare the quotes offered by different providers, so you know you are getting the best possible deal. Going with a reputable provider is far better in most cases than going with a no-name agent, even if the latter is cheaper. You get insurance because you want peace of mind, not just as a mere obligation. By getting insurance from a reputable provider, you at least can be assured that your building is covered, no matter what the situation - something you can't be sure of with a no-name provider. Home contents insurance is normally included in the regular homeowners insurance policy. The main purpose of contents insurance is to pay the charges required to replace those valuable and expensive properties you have in the house if they got destroyed or damaged by unforeseen disasters like fire outbreaks, internal flooding caused by leaking pipes etc. Now, let us discuss ways of making sure you get total home contents insurance at the cheapest rate possible. To start with, what are the items you have in the house? Is it good for you to have such items in the home considering their price value? Here's an example, very expensive jewelries and paintings should be well protected with appropriate and well targeted coverage services. Those very rare and expensive properties should be kept safe in the banks or similar facilities. It is true that some insurance providers will offer coverage for these expensive items but you should be ready to pay sky-rocketing rates to your insurer for covering them. Since, we want to save and enjoy total coverage at cheaper rates, it is important we know how to keep those rare items in the right places, most definitely not in your home. After understanding the price value of the properties you have inside your home, you r next step is to contact insurance companies and their trusted agents. The reason for this is simple; get free quotes for comparison and research. Comparing home contents insurance will help you know the insurance providers more and will place you at the right position to find and enjoy cheaper rates. There are trusted sites online that you can use to get started now; equipped with contents insurance professionals, you are sure to be done in less than five minutes and smile away with quality protection at a cheaper rate. Well, you may be surprised that all insurance companies calculate their monthly in different ways. This mean they take all your personal information such as where you live, how old you are, etc and calculate based upon your information, therefore if any insurance company is the cheapest for any of your friends it will not necessarily be the cheapest one for you. One of those important factors is your gender, you have probably realize that car insurance tends to be cheaper for women than for men. This is because women usually drive slower than men, most of wives tell at least 5 times to their husband to slow down or simply to put their seat belt on. If you are a female you could be saving hundreds or even thousands of dollars a month, if you knew how to! The key to save money on your insurance is always no matter what do a research, always hear what all companies have to offer you, this could be a pretty time consuming task if you were going to call all insurance companies available in your area. Do you want to save time and effort doing a research from your computer?
Do you have insurance to cover your home, whether it is homeowners or renters? Do you have renters insurance? Do you have business insurance? Have you read your insurance policy lately? Are you certain that you are covered for everything, not only the building (if you own it) but also the contents insurance? We have seen a series of tragedies as of late including: floods, tornadoes, hurricanes, oil spills, volcanoes, plane crashes into homes, etc. You name it, it can happen. Things can happen that is even beyond our wildest imagination. You could lose everything! Some things are not replaceable, like family photos, family heirlooms, antiques, business documents, etc. Some things are replaceable as long as you are properly insured. The huge question remains. Are you properly insured with buildings and contents insurance? Pull out your insurance policy and read it. There are probably many people who cannot find their policy. If this is so, immediately if not faster, contact your insurance agent and request another copy. Check the policy for some of the following questions: What is the percentage of recovery of my personal or company property? Am I fully covered? What items are covered? Does the monetary amount of recovery even begin to cover the actual value of items covered? Are specific items covered within the home like antiques, jewelry, heirlooms? Do you need to get a special rider on your policy? Are items in your business covered specifically like computers and other electronic equipment. Do these items need to be itemized with copies of purchase orders? Are your large manufacturing machinery depreciated over the years or will you get full replacement value. Will you get full replacement value for the building, or will it be based on a depreciation percentage rate? Are you covered by "acts of God"? Many insurance policies do not automatically carry flood insurance or fire insurance. Those must be purchased separately - especially if you live in areas prone to those types of problems. Please do not let yourself be caught off guard. Make sure that you are not under-insured. Paying a few extra bucks each month in insurance can keep you from total devastation if something should happen for which you are not insured. Make sure that you, your family, and your buildings and contents insurance are at a coverage level where you can survive and rebuild your life should you need to use it. And may you never need to use it. Q: Some of the long term care insurance policies I am researching allow for a shared care benefit. Can you explain what that means and what advantages it may provide? The Problem - You or Your Partner Need More Care than Your Individual Policy Covers Most long term care insurance policies are designed as individual policies that insure one person, ignoring the pool of benefits inside your spouse's or partner's policy. Unfortunately, you may need more care than your individual policy covers. For example, you and your spouse or partner each have a long term care (LTC) insurance policy with a $300 daily benefit and a five year benefit period, obligating the insurance company to pay $300 per day for five years. If you only need $150 worth of care, or half the $300 daily benefit, the insurance company is obligated to pay $150 per day for 10 years, or twice as long. If you need the full $300 worth of care, or the full daily benefit, you will exhaust the policy benefits in five years. Unfortunately, you may need more than five years of care. In the event you need an additional two years of care at $300 per day, it will cost you $219,000 out of pocket. This example ignores the income taxes and early withdrawal penalties associated with the withdrawal of many retirement assets. It also ignores the devastating effects of inflation, which can wreak havoc on a lifetime of savings if your LTC insurance policy does not have inflation protection. The Solution - Shared Care Benefit Policy The shared benefit policy provides you the ability to utilize your spouse's or partner's benefits when your own policy benefits have been exhausted. In the example above, you can use the benefits of your spouse's or partner's policy and avoid a $219,000 expenditure. The mere avoidance of this expenditure can mean the difference between a secure and an insecure retirement. All those assumptions are based on current dollars. If this example were 28 years in the future and the cost of care (along with your policy's inflation protection) rose at 5% per year, the shared benefit policy would save you over $876,000 in expenditures. Shared Benefit Policy with Survivor Benefits Some policies have a provision to protect the surviving spouse or partner. If one of you dies, the survivor's benefits will increase by the deceased spouse's or partner's remaining benefit dollars. For example, if you each have a policy that covers $300 per day for five years and one of you die, the survivor will now have a policy that covers $300 per day for 10 years - doubling the benefit period. Shared Benefit Policy with Replenish Provision Some polices have a provision to protect the spouse or partner whose policy has been depleted by the person receiving care. Once your spouse or partner has depleted your benefits, you have the option to purchase a new policy without medical underwriting. Imagine your spouse or partner depletes their own policy and then depletes your policy. Unfortunately, you now suffer from a number of health conditions. With the replenish provision you can purchase a new LTC policy without any medical underwriting whatsoever. Despite the deterioration in your health the insurance company is legally obligated to issue you a new policy based on your original health - even if your current health would normally qualify you under a poor health rating or entirely disqualify your from obtaining a policy. Action Step - Protect Yourself with a Shared Benefit Policy When you purchase a shared benefit LTC policy with survivor benefits you protect yourself and your spouse or partner from greater than expected expenses and avoid the risk of seeing a deceased spouse's or partner's unused benefits evaporate.
HALAMAN SELANJUTNYA:
