Most homeowners understand that their insurance policies exist to protect their physical dwelling and to give them a degree of liability cover for injuries to visitors. Most don’t realize, however, that not being at home when disaster strikes is actually the easiest way to get your claim denied!
If you own a home or condo, or even rent an apartment, you need some kind of homeowners insurance, but do you know what that kind of insurance actually covers, or how to choose what you need? This video explains the basics. Enjoy.
We all love candles – on the dinner table, atop a birthday cake, on the coffee table, or in the bathroom. They can be part of your home decor, can be stashed in your linen closet or underwear drawer to act as sachets until you’re ready to burn them, and they make great gifts.
Unfortunately, candles are also a fire hazard. A report from the National Fire Protection Association says that between 2003 and 2007, for example, American firefighters responded to about 15,260 house fires a year, all started by candles. Annually, those fires resulted in an average of $450 million worth of property damage, 1,289 injuries, and 166 deaths. In the same four-year period, the Association’s report says, 10 percent of fire-related home injuries, 6 percent of home fire-related deaths, 7 percent of property damage were caused by candles, which were the cause of 4 percent of all reported house fires.
How did candles cause so much pain and damage? Well, the same report says that in 12 percent of cases people fell asleep while candles were left burning, which also led to 36 percent of candle-fire related deaths. That same percentage – 36 – was also the number of candle fires which began in bedrooms. It shouldn’t be surprising, then, that many apartment complexes and homeowners associations are attempting to ban the use of candles.
The best time to find out how much you can save on your present insurance policies is right now!
We provide you with the convenience of online shopping, the benefit of comparison quotes, and the offer of excellent cheap insurance coverage through our relationships with the very best companies in the industry.
Still, those of us who love our candle power can use candles safely. Here’s how:
- Always extinguish candles before you leave a room, or turn in for the night.
- Be sure to extinguish a candle’s flame before the candle has burned too close to the bottom of its container – this is especially true with glass containers. Yankee Candle, for example, recommends considering a candle “finished” when there’s half an inch of wax left.
- Don’t use candles in place of flashlights or emergency lighting during blackouts.
- Always choose sturdy candle holders that will contain the molten wax and are unlikely to tip over.
- Never, EVER, use candles (or any open flame) if someone in your home is on oxygen.
If you should have a candle-related accident, the good news is that your homeowners policy covers fire damage, though, depending on the way your policy is written it may only reimburse you for the depreciated value of any destroyed belongings, rather than the actual cost to replace them. Also, you will be paying a deductible if you make a claim.
Before you light your next candle, take time to review your homeowners insurance police, and read the details on fire insurance coverage.
We talk often about health insurance – especially with health care being constantly in the news – and auto insurance, but what about life insurance? This video addresses what it is, why you need it, and what types of life insurance you might consider. Enjoy:
We all want to save money on insurance, and one way to do that is to reduce the coverage we have to only what we need. It’s important, however, not to expose yourself to more risk when you lower your coverage. This video from LifeQuotes, via YouTube, explains more:
The Alabama Department of Public Safety announced earlier this week that it would be opening offices in Birmingham and Tuscaloosa in order to help residents whose driver’s licenses and state ID cards were lost in the tornadoes that struck the state at the end of April.
The offices opened on Tuesday at the Boutwell Auditorium in Birmingham and the Coleman Coliseum in Tuscaloosa, and are open from 7:00 AM – 6:00 PM every day through Saturday, May 14, for people to obtain temporary documents.
Two forms of ID will be required, including school ID’s or certified records, military ID cards, passports, marriage certificates, Social Security cards, and birth certificates.
If you’ve ever wondered just how important health insurance really is, consider this: A recent report from the U.S. Department of Health and Human Services (HHS) says that families without insurance can only afford to completely pay for about 12% of the hospital stays they may have to have, even when they’re in the higher income brackets. Even worse, the hospital visits that those uninsured folks can’t afford to pay for represent 95 percent of all the monies billed by hospitals.
In addition, some analysts believe that the tally for uncompensated health care for the uninsured is about $73 billion a year, much of which results in higher costs for those people with insurance, and their employers who provide insurance plans.
The report also found that the 50 million people in this country who have no insurance also have no savings. The median financial assets for all uninsured families came in at a mere $20, and even in those families who make good money, assets are sparse. Half of the families who earn 400 percent of the federal poverty level (about $89,400 for a family of four this year) have less than $4,100 in the bank
When you consider that two million uninsured Americans are hospitalized each year, and that fifty-eight percent of those hospital stays are billed at more than $100,000, it’s obvious that there’s a problem here: no insurance, no payments.
Sherry Glied, HHS assistant secretary for planning and evaluation put it this way: “Health insurance is critical in helping protect families from unexpected hospital costs. This report shows that even higher-income uninsured families are struggling to meet the high costs of health care. No family should bear the burden of being one illness or accident away from bankruptcy.”
Consider this the next time you hear any government official making a statement against health insurance. Consider also: what if it were you?
Last month’s tornadoes in North Carolina will probably mean a state-wide increase in the cost of homeowners insurance because of the extent of the damage, say insurance industry analysts. That’s the bad news.
The good news (sort of), at least according to the North Carolina Rate Bureau, is that the increase probably won’t even be as much as five percent, and isn’t likely to take effect until 2013.
But the increase probably would be less than 5 percent, and it wouldn’t take affect until at least 2013, according to the North Carolina Rate Bureau.
The other good news – at least for residents of places like Beaver Dam or Fayetteville, where devastation was extensive – is that tornado-related rate increases are calculated on a fifty-year average likelihood of risk, and are NOT location-specific, but spread across the state so instead of some rates going incredibly high, everyone’s rates will get increased just a little bit.
Kerry Hall, a spokesperson for the North Carolina Department of Insurance, the regulating agency for insurance rates, told the press, “We feel that people should not be worried that there will be a huge homeowner’s insurance rate increase because of the tornadoes.”
This video shows the formation and progress of the tornado that hit Tuscaloosa, Alabama on April 27. The insurance claims from that wave of storms will be astronomic and the sudden nature of the outbreak is a graphic illustration of why we have insurance it the first place.
The question is being raised more and more. Can I get better auto insurance rates on hybrid and EV cars and trucks? Well. No. Right now it is still more expensive to insure a hybrid than their gasoline brethren, although one or two models have broken through the ceiling. Still, the variations in premiums can be startling.
Take the Toyota Highlander SUV AWD. You go for that one and you’re going to spend $348 more for the insurance than with the gas model. So, what’s up with that? Well, according to a spokesman for the Insurance Institute for Highway Safety, Russ Rader, the insurers are still looking heavily at repair costs.
“Data on insurance claims show that hybrid versions of vehicles typically have higher insurance losses for collision when compared to their gasoline-only counterparts,” said Rader.
What’s the most expensive hybrid on the road to insure? The BMW 750i sedan with an average annual premium of $3,281. I somehow doubt you’re going to save enough on gasoline to make up for that. Of course, if you can afford the BMW in the first place, it may not matter.
The least expensive hybrid to insure? The Mazda tribute at an average annual premium of $1,212, which is actually less than its gas counterpart at $1,163.
So, basically the story says the same on this one. This is an evolving genre of automobile and insurance coverage is evolving with it. Unfortunately, judging from these figures, the insurance evolution is much, much slower.