Monthly Archives: January 2013

How to Pick an Online Life Insurance Company

Taking out life insurance is a wise decision whenever you make the decision to buy this coverage. In the past, people used to believe that life insurance was only meant for people that reaching a certain age, should think of having money to retire or to provide their beneficiaries with some cash to cover funeral costs and early expenses after an individual passed away. Today, we all know that life insurance is never superfluous and that anyone can buy a life insurance policy at any stage of life. life-insurance

Life insurance is in fact necessary when an individual works or lives in a dangerous environment, likes to embrace hazardous activities, or has to put his or life at risk for any other reason. You can also take out life insurance, resting assured that your beneficiary will not be left unprotected, financially speaking, although there are some other good reasons to take out this insurance and enjoy the benefits for yourself without having to die first.

  • Key Points to Keep in Mind

Despite nowadays it is very easy to find an online life insurance company, there are some key points that you must take into account before considering any option to buy from such company. Because there are, also many scam companies, or unscrupulous insurance salespersons that may try to sell you insurance that you do not need, or that is not what you expect.
Your checklist should include these considerations:

  • Insurance companies or insurance agents and brokers must be licensed entities
  • Make sure to understand what is the right life insurance that you need
  • Get quotes from at least three different insurance companies
  • Compare rates and make a background check to learn more about prospective insurers

A licensed insurance company, broker and agent has to abide by the terms of regulations of renowned organizations that guarantees you are buying insurance from a reputed service.

On the other hand, it is necessary that you know what are your life insurance needs and what are the options you can take out. Basically, there are two types of life insurance:

  • Term Life Insurance and
  • Whole Life Insurance.

However, there is optional life insurance coverage that could be included in your policy such as Accidental Death and Dismemberment coverage that you may not need, but you may buy if you are not aware that you have the option to select a plan that meets your insurance needs.

  • Shopping Around for Online Life Insurance

Once that you have browsed several listing and the websites of different insurance companies, devote some time to learning more about the company from which you are about to buy your life insurance policy. Many websites have on-site testimonials that may say wonders about the company or a specific insurance agent or broker. Those testimonials might be fake feedback from imaginary customers, or might be real people’s experience.

It is always better to learn more about an insurance company by searching opinions that people leave in review and customer satisfaction websites. Buying life insurance is not a kid’s game, so make sure to find the right life insurance company by following the above tips.

What Does Renters Insurance Cover?

Renting a house or apartment is always a good way to cut costs that homeowners have to pay, including home insurance. If you have ever rented a property or you are about to rent one, it is good that you know that the insurance you will be granted with by your landlord might not be enough. People tend to believe that a renting contract includes full coverage over the property and the tenant’s belongings inside of it, but this is not usually the case. A landlord’s insurance policy often cover the structure resulting form natural or human damage, but tenants should always buy their own renters insurance to play it safe.

renters-insuranceIndeed, you can take our renters insurance, which is an insurance policy that is not publicized at all, but does exist. Renters insurance basically covers your belongings, which are not covered under the landlord’s insurance policy. This type of insurance policy also covers a few other aspects that you would probably not have realized at first, but that you may need to be aware of, such as the following.

  • Bold Point in Renters Insurance Coverage

Some people think that their belongings are not of great value, so it is not worth buying renters insurance. In fact, many people simply think that whatever happens in the rented home will be covered by the landlord’s insurance, but now you know it will not. If you are still unsure of taking out renters insurance, or you cannot figure out what the benefits are that such policy carries, these are the main aspects that renters insurance carries out:

  1. Personal possessions loss or damage coverage
  2. Injury coverage for people visiting your home
  3. Protection from thievery actions
  4. Disasters that are not covered by the landlord’s policy

In this last matter, one good example is fire produced by your own imprudence or negligence, which can be determined at the moment to pay the landlord’s policy. A good company for researching rates is Renters Insurance.net.

  • Types of Renters Insurance

Most common renter insurance policies are the HO-4 and HO-6 which cover riot, burglary, theft, vandalism, water and smoke damage, falling objects, electrical surges, fire, volcanic eruption, and lighting, However, there are other standard policies that may include earthquake or flood damage or loss. Available renter’s insurance policies may vary according to the specific region you live and some renter insurance policies may not include full coverage, but require that you get extra protection.

In addition, there are two options in renting insurance to choose from Actual Cash Value (ACV) and Replacement Cost, which determines the payment you will receive in the eventuality to make effective your policy. ACV is usually a better option if your possessions include a large number of household appliances and electronics to protect yourself from depreciation.

On the other hand, be aware that most renter’s insurance policies will not provide you coverage for costly jewelry, firearms, or large amounts of cash on hand. Some insurers may provide you with limited coverage on this matter and most of them will not include equipment that you use to run a home-based business nor liability, so it is advisable that you purchase additional insurance for all those aspects not covered by the renter’s insurance policy.