I have replacement cost coverage on my homeowner insurance but should I be paying for the lot it is built on?
When one purchases a home the mortgage company requires you to cover the amount of the loan,($290,000) lots in my area are selling for ($70,000) , does this mean i should only insure for ($220,000) , since the lot is not being replaced?
In my years as an insurance agent I came across this situation many times. It is a particularly a problem where you have lakefront property with a cottage. Often the cottage is very small and of simple construction and the lot is, by far, the most significant part of the purchase price. In these cases I worked with the loan officer to satisfy their requirement for the proper replacement cost insurance so that the cottage was insured without wasting significant premiums insuring land.
That being said when you purchase your insurance you want to insure the replacement cost of your home not just the mortgage amount. The calculated replacement cost (not including the lot) will often be higher than the amount you chose to finance.
Filed under Home Insurance by on Apr 18th, 2010. Comment. 
How much you pay for your health cover depends on several factors and if you have a family to cover there are many factors you need to know. Health insurance is expensive but you will find affordable health insurance for low income families if you look properly.
The amount you pay for the cover for your family will depend on several factors.
#1 The plan that you choose will have a big affect. The choice of your plan is the first thing that is going to affect your monthly cost. There are ways to lower the cost. If you have a family to consider you need to think about getting one plan to cover everyone, instead of several different plans.
#2 You need to consider the health of each family member. If any person needs long term car or suffers from a chronic illness then it will be better to put them on a separate policy. This is because the deductible will be much higher and the price will rise by a lot too.
There are other factors you need to consider too.
Before finding ways to reduce the what it is going to cost you monthly there are a few other factors to think about before looking for affordable health insurance for low income families.
You should know the amount of things that your going to have to pay out of your own pocket, like your deductible. Usually the higher the deductible is the lower the monthly cost, but setting it too high can be a mistake if you cannot afford it.
If you or a member of your family need treatment on a regular basis ensure that the cost of the medication or a large percentage of it is covered by your insurance. If it is not covered it could work out very costly.
The easiest way to do all this is as below.
#1 Go on the internet and compare the prices from a handful of companies. You can do this either by visiting each site in turn or by using a site which will compare the quotes for you.
#2 Check each quote and see what is covered. You may find that one or more family members have a condition or need treatment that pushes the price up. If this is so get a separate quote for them.
#3 Finally adjust the deductible and remove anything you do not need from the policy. This will reduce the cost even further.
Doing this will help you to find affordable health insurance for low income families very quickly without over paying for your cover.
Here is the best resource for Affordable Health Insurance for the cheapest health insurance just click here
Filed under Home Insurance by on Apr 11th, 2010. Comment.
I am going to be straight with you guys. All of the 'high street providers' are ripping you off. If you are using them you are paying too much for your Smartphone insurance. Sorry to put it so bluntly! But how can you find someone decent? And how do you know that you can save money? Read carefully below and I am sure that you will learn a few things!
The reason I am so passionate about Smartphone insurance is because I was ripped off for a few months by the large 'high street mobile phone providers'. I cancelled my insurance, and then proceeded to have my Blackberry stolen. I couldn't believe it. I was an angry man, and it cost me over £400.
Let me tell you about 3 of the top tips I discovered when I finally got my act together:
SMARTPHONE INSURANCE - 3 TIPS ON HOW TO SAVE MONEY
1. Go with an Independent Insurance Company
On average from the research that I carried out, I found that an independent Smartphone insurance company will save you 22%-25% per month, not to mention the no claims bonus discussed below in point 3.
The most important thing you have to worry about when using an independent company is to make sure that the company you are using are FSA (Financial Services Authority) Regulated. Its extremely important - you may get ripped off otherwise. Also, you must make sure that the following is included within you policy:
- Fraudulent calls - Yes, most thieves take advantage
- International cover - Make sure you are covered overseas.
- Water damage - probably the most important as most claims are due to this mishap.
- Theft - 1.3 million mobile phones were stolen in the UK during the past year. Crazy!
- Loss - Another very important inclusion. Many companies will not offer this, but its compulsory.
- Extended warranty
- Accidental damage
2. Try using your bank
In this day and age its a bit of a rarity for your bank to offer anything for free. They are pretty much hated wherever you are in the world! They have been bailed out by the tax payer in the UK, yet they still receive large bonuses. Anyway, if you hold a premium account with Lloyds TSB you will be able to cover your phone for free. Yep! Just be aware that you will have plenty of paperwork to fill out and will probably lose a quite a bit of the phone value in excess payments. But probably better than a poke in the eye!
3. Make sure you push for a 'No claims Bonus'
This is a very cool little smartphone insurance 'add on' which very few people would even know about. If you find a very good independent smartphone insurance company, they will offer whats called a 'no claims bonus'. In a nutshell, you should be given the equivalent of a brand new battery after 12 months without a claim, and the equivalent of a brand new latest model phone after 24 months without a claim. Not bad right?
Well the best Smartphone insurance company I found which offers this 'no claims bonus' and is also FSA regulated is http://www.insureit.2u.co.uk. They are a very classy online insurance company, and will save you approximately 25% on your monthly costs.
So there you have it guys. In summary, my top three tips on what you need and what you should be paying for Smartphone insurance. I have also just completed a Smartphone Insurance website which talks about other secret little insurance saving tips. Enjoy!
Filed under Home Insurance by on Apr 10th, 2010. Comment.