Archive for the ‘Insurance 101’ Category

Why do the rich get richer and the poor stay poor? The answer to that question is simple. First, the rich teach their children about money; how to earn it, manage it, and how to be responsible with their credit. The wealthy also stash money into savings and investment programs that get their children started on the right foot financially. Second, the rich are well ... Full story

by Tinisha M. St. Brice Before I became a real estate lawyer, my husband and I purchased our first home. The day before the closing we were contacted by a paralegal from our lawyer’s office. She called to inform us of how much money we had to bring to the closing the following day and to ask us if we were interested in purchasing ... Full story

How much would it cost to rebuild your home? Answering that question is the first step in securing the appropriate amount of home insurance. People sometimes assume that their home insurance coverage should equal the amount they paid for the house or the amount they owe on their mortgage. This is a common mistake. Since the purpose of home insurance is to protect ... Full story

Buying and owning a home comes with a lot of responsibility, and being prepared is one way to stay ahead and prevent costly mistakes. One question to ask yourself is, “If catastrophe struck, would my family be ready?” Taking simple steps today could save lives and prevent suffering later. Follow these tips to protect your loved ones—whatever tomorrow brings. 1. Set a family strategy. Prevent panic and ... Full story

If someone depends on you, chances are you need life insurance. Why, then, are men more likely than women to own life insurance? And why do women have, on average, about half as much coverage as their male counterparts--$76,000 versus $143,100? Part of the reason why men tend to have more life insurance than women is that men often earn more than women, but common misconceptions ... Full story

Most of us don’t know the number of shoes or CDs we own or the dollar value of our furniture and electronic equipment. If a fire, burglary, or natural disaster hits your home, confusion and emotion may make it even more difficult to identify your possessions accurately. Disasters happen, though, so now is a good time to make a thorough assessment of your belongings. How ... Full story

If you own a home, you probably spent years planning and saving for the purchase. Your homeowner’s insurance helps you protect that investment of time and money. While you may already know how homeowner’s insurance protects your belongings, you may not be aware that it can also help protect you from personal liability claims. If you or someone you’re responsible for causes harm to other people ... Full story

When purchasing your home, one of the requirements set by the mortgage company is the purchase of hazard insurance, also known as homeowner insurance. Hazard insurance is purchased to protect your newly acquired asset–your home and you. Many consumers do not realize that combining their auto and home insurance with the same insurance company will save them money. More often then not insurance companies apply a ... Full story

Credit scores have traditionally been used to determine the creditworthiness of applicants for financing. Lenders routinely use scores to establish the likelihood that payments will be made on time and that loans will be repaid in their entirety. In an increasing and controversial trend in the automobile, home, and other insurance-related products, major agencies are using the credit scores of their clients to establish policy ... Full story