Useful Tips & Tricks

When You Can’t Come Home: What Does “Loss of Use” Coverage Actually Cover?

Posted by: vpenson

Your homeowner’s insurance policy will pay to repair
damage to your home caused by a fire, windstorm or other covered cause of loss.
But when you and your family incur expenses for moving out while repairs are
made, who picks up the tab?

An often-overlooked but essential function of your
homeowner’s policy is “additional living expenses” (also called “loss of use”
or “Part D”) coverage. Additional living expenses coverage will pay the
necessary increase in living expenses required to maintain your ...

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Is a GPS Covered by an Auto Policy?

Posted by: vpenson

Some may view them as science fiction gone wild. Others
see them as indispensable, possibly life-saving tools. Regardless of your
feelings about Global Positioning Systems (GPS), they continue to occupy the
dashboards of millions of U.S. vehicles each year. The pervasiveness and
expense of the technology has drivers asking if their GPS systems are covered
by auto insurance.

Personal Auto Insurance

Whether its finding alternative routes to beat traffic or
an Italian restaurant for the family, drivers rely on their GPS to ...

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Condos: Easy Living, Tough Insurance

Posted by: vpenson

Do you own a condominium? To you, condo ownership may
represent a feasible way to home ownership. Or maybe it represents a second
residence in some exotic location you like to visit. Or maybe it’s an
investment to generate rental income. Regardless of why you own, understand
that insuring a condo is much different than insuring a traditional home.

Statutes and Paperwork

A thorough review of your master deed (often called declarations
or “docs”) is necessary to adequately insure your condo. Unfortunately, ...

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Earthquakes: Is that covered on my policy?

Posted by: vpenson

5,000. That’s the number of earthquakes felt in the United States each year. Popular belief may consider California to be the state at most risk of an
earthquake, but since 1900, earthquakes have caused damage in all 50 states, according to the Insurance Information Institute.

In fact, Oklahoma was struck by at least 10 minor earthquakes in a two-day period in late August 2009. These were strong enough to be felt throughout the central part of the state.

While Alaska experiences more ...

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Insurance: Your 3 Biggest Questions Answered

Posted by: vpenson

Insurance comes in a wide array of choices for a variety of consumer and business needs. Even the best-educated consumer who spends time researching insurance issues will come across a topic he or she doesn’t understand.

Let’s take a look at what consumers say when asked: “What’s one thing you don’t understand about insurance?” Here are three common questions that Trusted Choice® insurance agents and brokers hear:

Q: Why do I need insurance?

Insurance is for the uncertainties of life. Accidents and catastrophes ...

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Manage the “Four C’s” of Winter Fire Risks: Chimneys, Candles, Christmas Trees and Children

Posted by: vpenson

Thanksgiving, Christmas, and New Year’s Eve—these
holidays mean celebrations, many of them in decorated homes filled with
merry-making family members and friends.

Insurance professionals know that the winter
holidays bring greater-than-usual risks of fire in homes.  The National Fire Protection Association
reports that, over the course of a calendar year, the 10 worst days for
fires in homes fall between December 24 and January 6.

Fortunately, these risks can be reduced with
safe practices that address the “four Cs” of winter fires: ...

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When You Travel, Do You Need Special Insurance?

Posted by: vpenson

Recent months have brought travel risks to the
forefront of consumers’ minds: the economic downturn, and safety risks overseas due
to political unrest.

There are two broad types of travel-related coverage
for those leaving the United States:

  • Travel insurance covers the loss of the prepaid travel
    costs of a trip should it be canceled, interrupted, or postponed. It also can
    reimburse unexpected expenses incurred due to a sudden change in travel plans
    due to illness or other causes.
  • Specialty medical ...

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Is Your Home Fully Insured?

Posted by: vpenson

If you’re like most Americans, your home is your largest
investment, so you know how important it is to protect it. You probably take
safety precautions and have insurance that will cover you in case of a loss.

But are you fully
protected? Chances are, no. You probably are running the risk of having to pay
money out of pocket to rebuild your home after a loss, to replace stolen items
or to settle a liability lawsuit.

Consider the following questions to ...

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Business Use of My Personal Vehicle: Will My Insurance Work?

Posted by: vpenson

There are over 240 million registered motor vehicles in the U.S.,
according to the Census Bureau. At a given time, as many as a third of those
clutter American roadways, and it is estimated that one-fourth of those are
being used in the course of work.

Running errands, making deliveries, visiting customers. Even
for those whose employment is not based on driving, it’s fair to say that your
vehicle is an essential part of your employment. This presents an important
question: ...

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Insurance: The One Question Everyone Asks

Posted by: vpenson

“Am I overpaying?”

That’s a question that every consumer asks from time to time. Everyone is curious and concerned as to whether he or she is getting a good value for the
money, whether it’s for a candy bar, a car or an airline ticket.

It’s a good question to ask about insurance, too. After all, Americans spend a lot of money on insurance for homes, autos and businesses. In 2008,
American drivers spent $161 billion for personal automobile insurance, reported the ...

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