Category Archives: Insurance

How Important Is Engagement Ring Insurance?

Posted on by

Unlike some other forms of insurance, like auto or home insurance, engagement ring insurance is optional.  This leads some people to question how necessary it is.  These days people are pushing insurance for all sorts of things so we often start to wonder how necessary any optional forms of insurance really are.

When it comes to engagement ring insurance or any other type of jewelry insurance it is a personal question.  The answer to that question will vary from person to person.  Fundamentally insurance is protection from an unexpected event.  When evaluating whether or not you should purchase ring insurance consider your risk factors including where you live and how careful the person who wears the ring is with it.  If you feel there is a decent chance the ring may be lost, stolen or damaged insurance is probably a good idea. 

The other thing to consider is how you would feel if something happened to it and whether or not you could replace the ring if something happened to it.  Some people would be more devastated than others if something happened to the ring.  Weigh in how you feel about this.

If you have homeowner’s insurance you will have some protection over certain conditions, but keep in mind this type of insurance will only cover up to a certain amount (often $1,000) and it won’t cover for all types of loss or damage.  Check your policy to see what it will cover before you make any final decisions on whether or not you should get engagement ring insurance. 

If you check your policy and you decide you want more coverage you have a couple of choices.  You can likely add a rider onto your home policy to provide added protection for your engagement ring.  The other option is to get a policy with a company that specializes in jewelry insurance.  This is often the best way to go if you want a robust policy that covers a wide variety of conditions.

 

Insurance Terms and Definitions

Posted on by

When you are in the process of looking for insurance there are a couple of terms that make sense to learn. A lot of definitions and terms in insurance are actually shared terms. What this means is that regardless of whether you are looking for life insurance or perhaps garage liability insurance, there will be terms which are common to both.

Premium is a good example of this. Premiums are the amount that you pay for your insurance. The terms for this premium can vary and can range from monthly charges, quarterly charges or even yearly charges. Depending on what you chose, your insurance plan should be able to give you enough leeway to pay the premium and obviously still have money to spend.

Deductibles are another common term. Deductibles are payments that you shoulder whenever you have to pay for a particular service. In the case of health insurance for example you pay a deductible whenever you need to go to the doctor. If you don’t have a deductible on your insurance then your premiums are likely to be higher.

Coverage is a term that refers to the amount which you are capable or receiving. It can also refer to the fact that you are already covered by insurance.

Limitations refer to the limits in your insurance plan. For example, if you are limited to a value of $500,000 on your insurance plan then that’s the amount that you are limited to. This can also refer to a service limitation and so on.

There are plenty of other terms to learn too but if you are just starting the lookout for insurance it always helps to understand these basic factors to begin with.

Why Do “You” Need Public Liability Insurance?

Posted on by

In the past couple of decades the number of public liability cases has increased exponentially. This is also evident in the number of public liability insurance lawyers available in the market and the number of websites for law firms who specialize in public liability cases. This shouldn’t be news for anyone who has a company though. As more and more people see the potential to gain money by filing cases against corporations or even other people who they think have the money for it these cases are bound to increase eve more.

As a business you have to protect yourself from these cases and that is why your first order of business should really be to get yourself some public liability insurance. Public liability insurance will keep your investment intact because it can protect you from unnecessary lawsuits in the future without you having to go out and get yourself a lawyer to look at your public liability cases. Instead of having to get money from your revenue which would go into your business you insurance plan will protect you and thus insure that you don’t have to worry about spending a ton of money on protecting yourself later on.

As a business you have to maintain your earnings in order to make sure that you grow and can continue to earn from your investment. Don’t make the mistake of leaving yourself vulnerable. Make sure you get yourself a public liability plan that will keep your business growing and moving in the right direction.

When do you need a short-term motor insurance?

Posted on by

Short-term motor insurance policies can be paid for variable periods of time, starting with a single day and up to 28 days. Buying a short-term motor insurance policy it takes you only a few minutes.

You want to lend your car to one of your friends? Now you have the possibility to cover additional drivers of your vehicle through a short-term motor insurance policy. Also, when you need to drive a car that doesn’t belong to you, short-term motor insurance is the best solution.

Short-term motor insurance is a convenient, cheap way to provide temporary cover for someone else driving your car or for the moments when regular insurance policy isn’t available.

So, when you should get short term motor insurance? There are a few situations when such a policy is needed. For example, if you are going to lend your car to someone else or when you need to drive a vehicle that doesn’t belong to you. After you bought a new car, if you want to drive it right away, a short-term motor insurance is the answer. This type of insurance policy takes only a few minutes to be in place and gives about the same coverage as regular motor insurance.

Sometimes A Wrecked Car Is The Least Of Your Worries

Posted on by

When I was in college, I bought myself a brand new Ford Mustang. It had always been my favorite car and after the end of an exceptionally difficult semester, I decided to treat myself. I was not prepared for how expensive the insurance would be for the sports car, so I took the bare minimum to cut costs. What I wish I had done is taken out some personal liability insurance in addition to the car policy.

After having the car only a few months, I was hit by another driver at an intersection. Despite the fact that I was not going very fast, I ended up injured pretty badly. I even had to spend a few days in the hospital. As unpleasant as it was to see my new car totaled, getting the hospital bill was even worse. And when I learned by the liability coverage from my vehicle policy only covered a fraction of that amount, I almost passed out.  This meant that I was liable for the remaining balance, which was well over $20,000. It took me years to pay down that hospital bill. The most frustrating thing about it is that an extra policy would have saved me all of that money.

Pet Insurance

Posted on by

Taking out pet insurance is a virtual ‘must’ these days. The cost of vet bills can rapidly spiral out of control if your pet has an accident or develops a serious medical condition, and how many of us can quickly lay hands on several thousand pounds if our cat or dog needs emergency treatment, I know I couldn’t? For this reason I was really pleased to come across a website article that asked the question Why should I buy Pet Insurance? The article clearly explains what can happen if you fail to have pet insurance in place and the consequences you might expect if you cannot afford to pay for the cost of the expensive vets treatment required. Everyone who is considering taking on a dog or cat should factor in the cost of pet insurance to what they can expect to spend. If they are unwilling to pay for pet insurance then they had better reconsider taking on a pet at all unless they have very healthy bank balances. If they can’t afford pet insurance, then they can’t afford a pet, period! The person who wrote the article I linked to before knows what she is talking about from first hand experience. Her name is mistyhorizon2003 and she has written articles on a number of topics that you would no doubt enjoy if you browse through them as I did.