Search Results for: blog your credit score and how it relates to insurance part 1

Auto Insurance and Students Away At College

Recently a Families.com member asked me about adding a college student to personal auto insurance: My son got his driver license this summer and is now in an out of state college. He is not going to drive while at school. However, when he is back for Christmas or Summer (may be for two to three weeks), he will drive our car. Should I include him in our auto insurance? Or should I include him in our auto insurance only during the period when he is back? Some agents claimed that including him all through the year will help him … Continue reading →

Insurance Blog Week In Review August 1-7, 2007

Insurance Term Of The Week: Binder Wednesday August 1, 2007. With all the recent news about Lindsey Lohan’s problems a few recent quotes from the Hollywood reports bring up my area of expertise, Insurance! There has been a bit of chatter about the fact that Lohan may now be “uninsurable.” So what does this really mean when it comes to Movie Insurance? Thursday August 2, 2007. When we think about movie stars, singers and other celebrities it shouldn’t seem strange they may want to insure their assets. The history of celebrity body parts insurance is an interesting insurance market most … Continue reading →

Tips to Avoid Buying a Used Car With Flood Damage

An automobile can suffer flood damage in a variety of different ways. Following hurricane Katrina salvaged cars from flooded areas were sold to many unsuspecting used car buyers. It doesn’t require a national catastrophe to cause flood damage–some autos may be flooded during an instant at a boat dock, or when a driver attempts to drive through flooded streets. A used car customer may think they are buying a nice used car, but may later find there was hidden water damage. Cars that have suffered flooding damage are most often unreliable. With hidden electrical damage and water associated problems. Used … Continue reading →

Insurance Terms: I

A | B | C | D | E | F | G | H | I | J-K | L | M | N | O | P | Q-R | S | T | U-V | W-Z Income Protection Insurance is a type of disability income coverage providing an income benefit both, during the time the insured policyholder is totally disabled and unable to work. But also offers coverage when an insured policyholder is able to work, but due to a disability the policyholders earning are less than then before the disability. This is also called residual disability … Continue reading →

Insurance Terms: C

A | B | C | D | E | F | G | H | I | J-K | L | M | N | O | P | Q-R | S | T | U-V | W-Z Cancellation is when you or your insurance company decided to end all insurance coverage prior to the policy expiration date. Captive Agent is a licensed insurance agent who represents only one insurance company and is limited by contract agreement from submitting new business to any other insurance company, unless or until the agent’s captive company rejects the business. Casualty Insurance is … Continue reading →

Insurance 3-Steps for the Single, 20-Something, College Graduate

Watching our children grow up and become adults is one of the greatest parts of parenting. My oldest daughter graduated from Oregon State University with honors last month. I was in awe of the results of my labor, I doubt our children have any idea how proud we really are when they achieve the greatness we dreamed possible! I have written several Blogs about insurance for our older teenagers and young adults. The best advice I can offer is that you continue to insure your child until they are defined by the financial aide office as “independent.” This is usually … Continue reading →

How Much and What Kind of Insurance Do We Need?

There are two main reasons everyone will be required or needs to consider purchasing insurance in order to manage their personal risks. In most cases the legally required insurance will cover for liability or property damage where we ourselves are not the one who will be financially protected. Required Insurance Generally Includes: Legally required financial responsibility auto insurance. Most states set a minimum dollar amount of required liability insurance in order to register an automobile. The minimum requirement is for damages a person may cause to someone else’s property or injuries. Loan and Financing Required Insurance is most common for … Continue reading →

What to Know About the Rental Car Agreement and Insurance.

Insurance is state regulated, the type of coverage and the premium cost will vary from one state to another. Rental car customers usually have choices of what added insurance they may need to purchase in order to cover a rented auto. Before you show up in line at the rental car counter be sure to do some advanced planning. The Insurance coverage you may want to understand include the following coverages: Collision Damage Waiver Rental car insurance usually offers a collision damage waiver, in some cases this coverage may also be called, a Loss Damage Waiver. These policies are not … Continue reading →

Underwrite, Underwriting and Insurance Underwriter–Who Are These People?

I once told a very wonderful editor that an Insurance Underwriter was just about the same job description as the editor of a bunch of Bloggers. When I first started in the Business of Insurance my best boss ever used to kindly refer to underwriters as “people from a different planet.” Of course, we did our very best to make sure we kept our underwriters happy, because they had an amazing skill of causing extra work when we didn’t do our end of things correctly. An Underwriter is an intermediary between the insurance company who offers to accept the liability … Continue reading →

The Insurance Application

When I started my career in the Business of Insurance there were very few computers. Most things were done by way of the telephone or through the use of the mail and a variety of small delivery systems. Most insurance companies invested in the delivery systems to help their companies quickly review applications and agree to cover an insurance risk. Insurance agents needed to get the information correct right from the start, and they needed to spend time with the person needing insurance in order to help them make decisions about the kinds of insurance they might need. Everything was … Continue reading →