Your family life and your finances are represented by your valuables asset which your home is one of them. You need to insure your home wisely by avoiding most mistakes done by home owners and apartment renters. Without insurance, the task of repairing your home in case of damage will be difficult to achieve because the building materials would have increased. Search for home insurance plan that has 100% of the estimated replacement cost of your home. You need to avoid some pot holes when searching for plans with 100% estimated replacement cost if you really want to insure your home without stress. Though, they are calculation you need to make if you want to arrive at an accurate or estimated cost.
It is wise to insure your home with full replacement value because of future purposes. Your insurer or the insurance company will not be held liable when there is need to rebuild your home. The Insurance Company will pay according to the agreed amount stipulated on the policy. It is right to know that when your home is under insured there is always penalty placed by the insurance companies. The negative impact which under insured homes bring is felt when the home is damaged. For instance you insured your home with $700,000 and the replacement cost is $900,000 this will make the insurer apply a depreciation value to any claim you may file. The reason for this is your inability to provide at least 80% of the new cost (replacement value). If you carefully check this, you will realize that it is wise to get a full insurance for your home unless you are prepared for bankruptcy.
To avoid this case, you need to know the replacement value of your house and insure at least 80% of it covered.
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Filed under Home Insurance by on Mar 20th, 2010. Comment. 
Insurance Check – Made Out to Me and Auto Body Shop?
I read a few answered questions here. I got my car hit and couldn’t find the title to my car, so instead of making the check straight to me, they put the auto body shop’s name on it as well. It was made out to me and the auto body shop. The bank isn’t supposed to take it obviously, but I got mine to deposit it. I’m crossing my fingers and waiting to see what happens. What are the chances I will get the money and the bank will not catch the error? I’ve heard of this happening before to people with no problem. If worse comes to worse, I can send them a copy of the title and then I get a check made out straight to me. I can then either get my car fixed or choose to pay off my credit card debt with the money. I have a feeling I will get some responses saying it’s illegal to not get my car fixed. Actually, it’s not; I can do whatever I’d like with the insurance proceeds as long as my car is paid off. (Which it is.) Any bank personnel input would be greatly appreciated. Thanks!! =)
If the car is paid for you can do anything with the money you wish … it is NOT iillegal. Now that the check is made out to both there are some things you can do…. get the car repaired, sign the check and give it to them….go to the shop and have them sign the check and deposit/cash the check… or sign the check for the body shop (not llegal, but the body shop is the only ones you have to worry about and the only ones who will/can get you in trouble) sign your name and then deposit/cash the check. Now I’ll get thumbs down from the know it alls… but I have done all three with checks and it can be done.
Filed under auto insurance price quote by on Mar 16th, 2010. Comment.
Can I get full coverage auto insurance on a car that was once totaled?
My dad owns a 1992 Firebird that he (supposedly) totaled last year. Here’s the story, there was a really bad storm, and his boss demanded that he was not only at his job but on time. So my dad rushed on his way to work, and hydroplaned on a back road that is prone to flooding. He got it towed back to the house and later that day he filed a report to the insurance agency that it was totaled. He got the money for the totaled car, and he used the money to drain the engine, change the oil, put in new spark plugs, get new carpet, etc. The car now runs, but it has 274,000 miles, and the insurance company told him he can never get his full coverage reinstated. I beg to differ, seeing as how I’m going to inherit this car soon, and I want to replace the old worn-out motor anyways, and with a new motor this won’t even be the same car.
So here is my question:
If I get the engine replaced with a crate engine with 0 miles, do you think that the insurance company will reinstate full coverage?
The vehicle is still a salvaged vehicle – as it has a salvaged title – regardless of if the engine was replaced. It’s up to each insurance companies own discretion if they want to offer full coverage. Again, just because it got a new engine – does NOT change the fact that the vehicle is still a salvaged vehicle and holds a salvaged title – the DMV will not change the fact that it holds a salvaged title.
Filed under Home Insurance by on Mar 14th, 2010. Comment.