Category: insurnce

Should You Self Insure and How to Self Insure Yourself?

What Is Self-Insure? Self-insure is a risk management method that people set aside some money to be used to remedy an unexpected loss other than purchasing insurance for protection. Generally, you are self-insured when you do not have an insurance policy covering risks. Should You Self-Insure? Self-insure against certain losses may be more economical than

How to Buy Life Insurance?

Deciding to buy life insurance policy is just the first step in getting covered. After that it can get confusing. What kind of policy should you get? How much coverage? Where should you purchase coverage? Sorting through these types of questions will help organize you for the task. Do You Need Life Insurance? Whether you

Do You Need Umbrella Insurance?

Some forms of insurance are required by law (auto insurance, business insurance, health insurance, etc.). Some are not. One form of insurance that is often overlooked, but incredibly important, is umbrella coverage. What Is Umbrella Insurance? Given its essentially, ‘back up’ insurance, many people simply don’t bother with it. Wikipedia officially defines umbrella insurance as

Do Car Dealerships Offer Temporary Car Insurance?

State laws differ, but in most you can’t drive a car off the dealership lot without proof of car insurance. If you have another vehicle covered by a policy already your provider will usually cover the new car automatically for up to four days from when you make the purchase. If your insurance provider doesn’t

When Is A Vehicle Considered Totaled?

When Does An Insurance Carrier Consider A Vehicle Totaled? Vehicles are considered to be “totaled” when the cost to repair the vehicle is higher than the actual cash value (ACV) of the vehicle. Generally, when the following equation > 100%: cost to repair + salvage value / ACV. Check Your State Requirement Will your vehicles

Basic Car Maintenance Checklist and Schedule

If you’re like most people, car maintenance happens when something goes wrong or quits working. But following a schedule can keep you safer and if you can show you’ve stayed on top of your car’s maintenance it could boost the resale value. First of all, always check with the owner’s manual that came with your

Can I Buy Multiple Insurance Policies for the Same Risk?

For most people, insurance is not the most exciting topic of conversation. As a result, most people attempt to get their insurance purchases over as quickly as possible. They also typically only carry insurance when it’s required, and when it is, it’s usually one policy per exposure/peril. Why Do People Buy Multiple Insurance Policies? However,

Actual Cash Value Vs. Replacement Cost

Actual Cash Value (ACV) Definition Actual Cash Value (ACV) is defined as the cost to replace with new items of same kind and quality, less depreciation. It’s not what you originally paid for the item. Replacement Cost Value (RCV) Definition Replacement Cost Value (RCV) is defined as the cost to replace the lost items. It