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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? We have established that if we have a driveable automobile, we have to insure it by law in all states and we have started discussing liability coverages, beginning with Bodily Injury. The other biggie is Property Damage. Please note that you don’t just buy Bodily Injury or just buy Property Damage. You must have both. And what . . . → Read More: Auto Insurance – Property Damage Liability Coverage First of all, if you own a vehicle that is driveable, you need to have auto insurance because it is the law – I don’t care what state you live in. Ok, so it is the law. I wonder how many people buy auto insurance solely for that reason? I certainly have no idea but based . . . → Read More: Auto Insurance – Bodily Injury Liability Coverage 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 One of the most important insurance coverages out there is renter’s insurance – and is one that relatively few renters have and even fewer know about, I suspect. There are many, many people who rent and, true, many of those people may feel they have little of value – maybe 2nd hand furniture and the like…items . . . → Read More: Renter’s Insurance – “I Don’t Need Insurance, I Just Rent!” 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! Whatever type of insurance you obtain does not come free. Insurance coverage is provided by a company that takes on the risk of the value of what you are insuring. When you buy insurance, you become an insured with the company providing the risk (the insurer) and the contract that is created between you and the . . . → Read More: Insurance Premium – The Good, The Bad, The Why |
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