The In’s and Out’s of Family Insurance

It is a question that always gives families pause for concern, as there is never really a right time or a wrong time.

When is a good time to buy insurance?

You may think you don’t need health insurance if you are young and strong, with no known medical problems. Should you get it anyway?

This is only one of the questions facing people as they navigate a complicated insurance maze. Here are some other tips to think about when deciding whether or not to buy insurance.

1. Always Think About Life

If you have reached adult age and are no longer on your parents’ policy, you should think about life insurance of your own. However, single people without dependents may want to hold off. Once you get married, settle down and start thinking about children, that is the perfect time to consider life insurance.

How much life insurance you buy depends on how much you make. If you have arrived at a job where you know you will have a guaranteed salary that goes higher, then you will need to buy a policy that has roughly 20 times the value of a year’s salary. So if you make $100,000 a year, carry a policy worth two million dollars.

Likewise, if you have reached retirement age and do not have any need for assistance – let’s say you either hit the lottery or you invested wisely enough to live comfortably for the rest of your days – then having a life insurance policy would be redundant. Should you pass away, your money, should you choose, will go to your beneficiaries.

2. There’s No Place Like Home

Having a home policy is an important part of owning your own house. You need to insure against terrible acts such as fire, earthquake or tornado affecting your property and tearing it to shreds. However, think about what you need in terms of home insurance. If you have an option built into your mortgage payment where part of your payment goes to taxes and insurance, then you do not need to go any further.

If you have important valuables in your house, check with your company to see if they are covered underneath that policy. If not, then you may want to think about a little extra payment to cover those, or even a small separate policy should take care of the valuables. It is best to play things safe.

3. You Can Drive My Car

Most states require you to have auto insurance before you purchase a car. For items such as deductibles in personal injury and property damage, calculate a deductible you will be able to pay should an accident be your fault and then buy your insurance at that rate. Do not go for just minimum coverage. Buy enough to cover the cost of a car.

Your insurance provider will be truthful to you about what is and is not necessary to purchase for the type of car you own. Check with a company like 21st for a selection of insurance policies at affordable rates.

4. To Your Health

The Affordable Care Act is meant to make sure everyone has some form of health insurance, in order to make rates go down. A potential problem exists here, however. The Internal Revenue Service can force you to pay a penalty if you do not have health insurance. That penalty, even in later years, will be much less than the cost of a health policy.

Many people may choose to simply pay the penalty instead of buying insurance, simply because it is much less expensive. This means, although it wasn’t the government’s intent, it may be in your interest not to buy health insurance if you don’t work for a company that offers it. Time will tell if rates come down or this mandate will be adjusted, but for now it is a viable idea.

Tips like these should help you save money or spend it where you need to do so wisely.

It is the perfect way to insure a good future.

Ever Think About The Future?

I am talking about the future of your elders … seriously if you think about it, everyone hopes that their children will out live them and in most cases that does happen. Today I am talking to you about Burial Insurance, do you ever think about this? I personally do not think about it and I think that everyone should regardless of age.

Insurance for seniors seems to be something that would be very important if you are going to be the one taking care of your elders in the family. I know that when my father gets too old that I will be stuck taking care of him. I know this because he has already put in requests for his own little space wherever I may be living when he needs to have someone take care of him. I don’t know, not every senior ends up needing that extra care but life is not forever and that is why I am writing, to be curious about your future plans?

You can also get your elders or yourself to get joint life insurance quotes just to be certain you are paying the right price and getting the right coverage for your family needs.  I don’t know about me yet but I do know that I do not want to leave my children with a hefty bill to pay should something happen to me.

Do you have insurance on yourself or burial insurance? This is a new subject for me and curious if you have even thought about the topic before?

Running a Business

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Running a business can be a great experience that requires a lot of research prior to the start as well as during the time you are running said business. To start you should seek a registration in your state for a Trade Name which is also known as a Doing Business As business registration and allows you to claim the business on your personal taxes, or you can register as a limited liability corporation or a corporation among many other options. Depending upon your state regulations you may be required to get certain things while registering your business.

Let’s say you are doing business in Louisiana you would want to start by getting some business insurance quotes so that you can have Louisiana business insurance. No matter what state you are in, such as me living in New Hampshire and running a business in my state, you will need to get a Business Insurance Analysis completed in order to determine what type of insurance you need.

Having business insurance on the business you own and run will keep the liability down so that should something happen legally then you are covered and protected. Running a DBA or Trade Name business can be risky because you are taking on all of the liability of the business on a more personal level than a LLC or Corporation. Whatever business type you register please remember to protect yourself and the assets of your company by looking into getting a business insurance quote.

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Do You Have Business Insurance?

Every business owner needs to look into getting a business insurance quote because it’s a liability not to have some form of insurance for your business. Depending upon what state you are in there may be requirements for your business to be insuraned so if you are in NY you will want to search to get a New York business insurance quote.

Let’s say you are looking for home owners insurance, which most recently provided me some help when a tree fell on my house. Then if you are in a state like, let’s say, California you are going to want to search for a quote for California home insurance. There are so many easy ways to get insurance quotes now with the Internet providing a wealth of information at the tips of your fingers!

Having insurance for your home and/or business means that you are protected and others who visit your business or home are protected should something unthinkable happen. A simple slip and fall at your house could cost you a lot of money in a lawsuit if you don’t have the proper home owners insurance. Most people dislike paying insurance premiums because if you are like me then you are paying each month or quarter for something that you really never use, but if you think about it in a positive way you will realize that the premium you are paying will pay for itself should that unthinkable situation happen!

Questions for thought: Do you have home owners/renters insurance or business insurance? Did you use the Internet to research for your local area to find the best possible insurance and price possible?

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Car Insurance Talk For Connecticut

I have a friend who was looking for Homeowners Insurance Somers, CT and they were talking to me online about their search for homeowners as well as Life Insurance Somers, CT. I could give them some advice as far as what they needed to have included in their homeowners insurance, at least from a New Hampshire residents perspective, however, it was hard to lend state specific advice to them on homeowners insurance.

I haven’t ever had a life insurance plan other than what has been offered to me from previous out of the home work positions, and honestly I don’t know a whole lot about those types of plans. I know that another friend of mine has life insurance for her family, and I completely understand the need to have a life insurance plan, so my friend continued on in her search and looked for Life Insurance Tolland, CT.

Has anyone who reads my blog have a clue about insurance for homeowners and life insurance? Is there a difference in policies between states so close such as New Hampshire and Connecticut? I would love to hear some advice on how you determined to go with a specific company or plan when it came to choosing the right homeowners and life insurance polices for your family.

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