There is no one who doesn’t gripe about insurance rates – whether it be for life, health, auto, homeowner…you name it. We all want the best for not very much. We also should shop around, if we have that option, to get the best price for the coverage we need, shopping only stable insurance companies, preferably. . . . → Read More: Insurance Premium Rates – Our Behavior or Tables Stats?
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Uninsured Motorist coverage may or may not be an optional coverage in your state. If it is optional, your state insurance regulations may require that you sign an affidavit for your company rejecting the coverage that is kept in your policy file. What is Uninsured Motorist coverage? Well, it tends to be self-explanatory to some degree. Very . . . → Read More: Auto Insurance – Uninsured and Underinsured Motorist Coverage  2 comments  Auto Insurance, First Party Coverage, Insurance Coverages, Liability Coverage, The Insurance Policy  Auto Insurance, Insurance Policies, UIM, UM, UMBI, UMPD, Underinsured Motorist Coverage, Uninsured Motorist Bodily Injury Coverage, Uninsured Motorist Coverage, Uninsured Motorist Property Damage Coverage Hopefully, you will think beyond “give me the cheapest premium” when you look into getting auto insurance. Again, it is fine to shop around for the best rates but it is to your benefit to be sure you are buying sufficient coverage for your needs and to protect your assets. As we’ve addressed previously, each state has . . . → Read More: Auto Insurance – How Much Liability Coverage Should I Have? Automobile insurance is probably the most common insurance policy there is – outside of health and life insurance. And maybe not. There are many people who buy auto insurance but who may never buy any other type of insurance. There are many who only buy the auto insurance because they have to – required by law . . . → Read More: Auto Insurance Liability Coverages – The Why What exactly is homeowner’s insurance? This type of insurance provides protection for your physical home (dwelling), the furniture and other contents (personal property) and, sometimes (if available) loss of use, in the event damage to your home requires that you stay in a motel for a while. [Our proverbial first party coverages.] Of course, since a . . . → Read More: Opening The Homeowner Window Part I began the breakdown of the auto policy, starting with the Declarations page and ending with the Liability coverages. The rest of the policy is set up pretty much the same. Every coverage has an insuring agreement, definitions, Exclusions, and Limits of Liability specific to that coverage. Further, there may be other special provisions germane . . . → Read More: Reading Your Policy – Part II We talked about you getting to the point where you could read your insurance policy (whatever type) with some semblance of understanding. This is a good place to note the parts of a typical insurance policy with a brief description of what each part is about. To keep it simple, we will address an auto policy . . . → Read More: Reading Your Policy – Part I You’ve heard the phrases first party and third party in relation to insurance, right? Do you know what they mean? Perhaps. But, for the sake of those who may not, let’s chat about it. An insurance policy is a contract. A contract is comprised of several elements: a meeting of the minds, an offer, an acceptance and . . . → Read More: The Party of the First Part…Ugh! |
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