What is Contents Insurance?

If you are like most homeowners, you have purchased property or homeowners’ insurance to protect you against a variety of situations. This type of coverage will pay to repair or even to entirely rebuild it from the ground up if necessary. Such coverage is ideal to repair or rebuild your home after fire, flooding and other types of disasters. However, the contents of your home is not covered by property insurance. Separate contents insurance cover will need to be purchased to replace your personal effects inside the home. In a 2011 article printed in The Telegraph, it is estimated that approximately 6.8 million residents in the United Kingdom either do not have contents insurance or do not have enough insurance to replace all of their home’s contents.

What Is Covered?

Contents insurance is vital to ensuring continuity of your life and preventing major financial loss when your home is damaged. It is estimated that the average contents inside a home may be valued around 45,000 pounds. However, this can vary significantly based on the size of the home, the amount of electronics, the cost of furnishings and more. The average person’s wardrobe alone may be valued at over 10,000 pounds by some estimates. Contents insurance will pay to replace your clothing, your furnishings, your housewares, your electronics and more. Even the cash that is in your wallet may be replaced if it was damaged.

How Much Do You Need?

As you can see, you can experience considerable financial loss if your home is damaged and you do not have contents insurance. Likewise, you may also experience loss if you do not have enough coverage to fully replace all of your home’s contents. With this in mind, it is wise to go through each room of your home and estimate how much it would cost to replace all of your items. Consider everything from your sofa and chairs to your shoes, socks, jewelry and books.

Protecting Yourself From Loss

Keep in mind that your contents cover will only reimburse you for the cost of items that were damaged or lost. In order avoid issues when filing a claim, consider taking photos of every room in your home. Open up drawers, cabinets and closets, and take photos of those contents. Don’t forget to photograph the items in your attic, garage, basement and other related storage areas. Then, keep your photos in a safe place, such as with a family member, in a cloud-based storage solution or in a fireproof safe. Keep in mind that if your home is damaged by a fire, photographs stored in your home may also be damaged.

Nobody wants to think about the possibility of being displaced after damage is done to their home, but there is peace of mind in knowing that property insurance may pay to repair the damage to the physical structure and contents insurance may pay to replace the contents inside your home. If you do not have contents cover or ample cover for your needs, consider shopping for this important insurance today.

What Can Online Auto Insurance Services Offer Me?

I'd like to introduce you to three online auto insurance companies. Three companies that you may or may not have heard of previously, but that would certainly be worth a few minutes of your time. Insurance.com, 21 st Century, and Costco. Available around the clock for anyone in need of late night auto insurance information, these three sites have three distinctly different layouts, which cater to various aspects of the shopping public.

Insurance.com allows consumers to purchase auto insurance online, a highly valued commodity in today's fast-paced society. Visitors can also compare quotes from other leading auto insurance companies or consult the insurance learning center for numerous articles and tips. A Verisign secured site and a member of the Better Business Bureau; Insurance.com sends a clear message that any and all customer information is secure and kept totally private. Easily navigated, Insurance.com is a must see stop in your online auto insurance travels.

21st Century Insurance Company another online auto insurance site, is perhaps the most well rounded and well developed of the three. 21 st Century visitors can get an online quote and even compare that quote with offers from other top auto insurance providers. 21 st Century even allows visitors to compare coverages offered by various companies, a break from the norm in a business that thrives on reeling in the customer and keeping them blinded to other companies' altogether. If you have already had the good fortune to become a 21 st Century customer, you can make a payment online, add a car or driver to your policy, or even print ID cards if yours have been misplaced. Another Verisign secured site that is a member of the Better Business Bureau, these clearly displayed emblems give visitors peace of mind for a safe and secure transaction. 21 st Century even offers their entire website in Spanish for non-English speaking clients. Very clear and concise in everything they offer, 21 st Century has a crystal understanding of online auto insurance customers wants and needs.

Costco is perhaps the well-known grocery retailer for many people, with perhaps the biggest network. Offering free quotes for online auto insurance in all the major states, Costco works primarily through various affiliated provider companies such as Ameriprise. These companies have signed up with Costco to make their offers available to a broader consumer audience.

Costco surveys the premiums presented by each company, and provides the online auto insurance shopper with the best of these (You can read more at: Costco Auto Insurance Review). The website is completely secure, and the quote process itself is extremely detailed in order to provide the consumer with the most concise quotes possible. Though it offers little more than the chance to receive a precise and extensive quote, Costco nevertheless eliminates valuable time otherwise spent surfing around for better offers.

The world of online auto insurance providers is vast and varied. Someone always seems to have a "can't miss" special or a "must see" website. When your policy renewal date next comes around, listen to your pocketbook, and take a glance at these three providers before signing on the dotted line.

Ways Of Stopping Foreclosure Fast

Because of the recession many people are faced with the terrible option of foreclosure. Stopping foreclosure on the other hand is something that can easily be done. If you want to keep your home, here are some great tips that will allow you to keep the home you love. It does not even matter if you have already received your notice! You can still stop the process and get back on your feet!

Lenders all over the country are losing money because people are losing their jobs and their means to pay their bills. Stopping foreclosure so something that can easily be done when you simply talk to your lender. If you have just been laid off, do not wait until the payments are overdue. Simply give them a call and see what they can do for you.

While you are on the phone with your lender you may want to think about a new payment plan. Because the job market is so low many people are out of jobs for months on end. If you will be using your savings, smaller payments each month will help make your savings stretch.

If you are behind in back payments then why not ask your lender to either let one or two of them slide or add them to your payment plan? In some occasions a lender might actually wipe away one or two payment in order to keep you current. Of course this means that you have to have a very good payment record. Those who do not make payments on time might not be able to get this option.

If you cannot get rid of a payment or two then why not add those to your payment plan? This way you would have to pay a couple of months extra but still be able to keep the home you love. If you owe 3 payments, then you would owe 3 more payments at the end of your mortgage.

If you have run out of options think about filing for bankruptcy. Many people stop their foreclosure and keep their homes by wiping the slate clean. Just make sure that you have the money to cover the bankruptcy attorney fees. Remember, the bankruptcy can follow you for about 7 years at least!

Right now stopping foreclosure is not a very hard feat. Lenders are more than willing to help out their customers with loan modifications and new payments plans. Call your lender and find out what they will be able to do for you.

How Can Mortgage Insurance Help You?

Mortgage life insurance is a specialized insurance product intended to help your loved ones pay off your mortgage in the event that you pass on before the loan reaches completion. Whether or not mortgage life insurance is the right option for you and your family depends on a variety factors, but there are many areas in which mortgage life insurance can help you through a difficult time. Like many insurance products, mortgage insurance coverage varies depending on the plan, and there are some extremely useful additional options that can be selected for security and peace of mind.

Coverage in the Event of Your Death

This type of coverage is the basis for most mortgage life insurance policies. The loss of a loved one is a painful event, and shouldn’t be compounded by financial hardship or difficult decisions such as whether to pay off the mortgage or the credit cards. In the event of your death, mortgage life insurance will pay off the remaining balance of your mortgage ensuring that your family members have a roof over their heads. Mortgage insurance helps your family not only by paying off your loan, but also by simplifying the decisions that need to be made if you pass. Since this money is earmarked for your mortgage only, you won’t have to worry that the insurance money may go elsewhere or may sit unused while your family grieves.

Coverage in the Event of Illness or Temporary Disability

In the event that you are too sick or injured to work for more than four weeks, your mortgage life insurance can take over your monthly mortgage payments. This option is called repayment coverage, and generally lasts anywhere from one year to two years depending on your plan. In an economy when many households are operating paycheck to paycheck, this form of coverage can be invaluable. Since injury and disability generally come with a hefty medical cost themselves, not having to worry about your mortgage too can significantly alleviate some of the financial stress.

Coverage In the Event of Traumatic Events

If a traumatic event occurs and adversely affects your ability to meet your financial obligations, trauma coverage can pay a lump sum into your mortgage loan amount to act as a buffer. This safety net can be of vital importance during times in which your health and safety are your first priority. Trauma coverage is the rarest type of mortgage life insurance, and is normally found in military households or those with higher than average risk factors. The amount that trauma coverage will pay out will depend on the type of plan. Trauma coverage can work in tandem with repayment coverage to help you get back on your feet after a particularly unsettling and damaging event.

While other types of life insurance or disability insurance may be more versatile, mortgage life insurance serves a specific purpose at a reasonably low cost. With mortgage life insurance, you trade a small premium for the knowledge that you will never leave your family without a home. Mortgage life insurance is best used in conjunction with a more general life insurance policy, but is also an excellent standalone product for those with concerns about their family’s future wellbeing. This insurance product can become even more useful by taking options such as repayment coverage and trauma coverage.

Should I Get Mortgage Life Insurance?

If you’re looking into purchasing a home and financing that purchase with a mortgage, the odds are that your bank or lender has mentioned mortgage life insurance to you. Mortgage life insurance is a type of life insurance that kicks in upon your death and pays off the rest of your mortgage. The idea behind mortgage life insurance is that when you die, you don’t want to burden your loved ones with the financial burden of mortgage payments. Although your lender may be pushing you to buy mortgage life insurance, you should be aware of the fact that mortgage life insurance is totally optional.

If you decide that mortgage life insurance is not for you, then make sure to inform your lender that you don’t want it. If the lender insists that they will not give you a mortgage without this insurance, then report them to the Federal Trade Commission because what they’re doing is illegal. Mortgage life insurance should not be confused with private mortgage insurance. Private mortgage insurance is a type of insurance that your lender will require you to purchase if your down payment is worth less than 20% of the total value of your home.

Many people feel that mortgage life insurance is a bad investment for several reasons. One reason is because although your premiums remain level over the years, the amount of money required to pay off your mortgage decreases. For example, if you’ve been faithfully paying off your mortgage for decades and only have $5,000 to go when you die, your mortgage life insurance policy will only pay $5,000. It doesn’t matter that you’ve paid the insurance company way more than $5,000 over the years – that’s all they’re obligated to pay out.

Another reason why mortgage life insurance is a bad idea is because it is designed to serve the best interests of the bank and not the insuree. If the breadwinner of the family dies and the income dries up, the odds are high that the family will default on the mortgage payments. A default on the mortgage payments would cause the bank to lose money, but not necessarily the family.

A third reason as to why you shouldn’t buy mortgage life insurance is because it’s very expensive. Sure, when you break it down, it’s only a few cents per day, but when you compare the costs to the actual expected payout, it’s simply not worth it. You would have to die within the first year of owning your home in order to get a worthwhile payout. If you’re looking for some kind of mortgage insurance, your best bet is to go with term life insurance. For most people, it’s more worthwhile for them to increase the amount of coverage under a life insurance policy than to go out and buy mortgage life insurance.

Should I Consider Buying Mortgage Life and Disability Insurance?

Mortgage life insurance goes hand in hand with disability insurance, as they both are used to make sure that you can keep your home should there be a crisis. Mortgage life insurance will allow your loved ones to be able to keep your house should you pass away, offering them a better future. Disability insurance, on the other hand allows you to continue to pay for your home if you should become disabled and unable to continue working, which would greatly diminish your household’s income.

Mortgage Life Insurance

This type of insurance is used to pay for your mortgage should you suddenly pass away. This will keep the burden off of your family and will eliminate the need for them to choose between paying the mortgage or letting go of the house. The amount you have to pay decreases as your total mortgage decreases, so your payments are relative to the amount of money the insurance company would have to pay if you died.

You also have a second option with this type of insurance. Instead, if you have a set time in which your mortgage will be paid off, let’s say twenty years, then you would have to pay a set amounts for those twenty years. Unfortunately, that amount would not decrease as your mortgage increased and you will end up paying more than your mortgage is worth by the end of it. This is why most people like to go with the first policy, even though it costs more than your mortgage as well, it doesn’t cost as much and it decreases over time.

Disability Insurance

Mortgage disability insurance is meant to help you pay your mortgage should you become temporarily injured or severely disabled. If you did not receive worker’s compensation for becoming injured, which usually occurs because of an injury that is not work related, then you will not have money to pay your mortgage. This could cause you to lose your home, which would be devastating. Instead, during your time off of work, your insurance kicks in and begins to pay your mortgage. This allows you to keep your home and prevents you from being unable to pay for it. Sadly, hundreds of people lose their home each year due to a disability that causes them to be unable to pay for their home. This insurance will help you prepare for the future so that you don’t become one of those statistics, which could happen with just one accident.

While these two types of insurance should be in a single policy, they are not. The need to buy either policy changes from person to person, but either policy could end up saving your home. These policies are meant to prepare you for the future, but can be difficult to pay for. In our rough economy, not everyone can afford to pay for one of these policies, but if something bad were to happen they definitely would not be able to pay for the crisis. It is a risk, an expensive one at that.

How To Save On Truck Insurance?

If you are looking for truck insurance, and want to save money, the first questions you must answer involve what type of truck insurance you need. There are several varieties, and each has its own rules for saving money on your premiums.

First, if you own a pickup truck designed for family use, the same rules apply when looking for insurance savings as those which apply to cars. In essence, pickup trucks are simply cars with bigger frames. Since they are driven for mostly the same purpose as passenger cars, most insurers simply insure them in the same way as they do cars.

You should shop around for the best rates, and be sure to take advantage of good driver discounts, good student discounts, driver’s education discounts, and multi-car and multi-policy discounts. You can also save by raising your deductibles or lowering your coverage levels, or both.

However, if you are looking for truck insurance for a vehicle designed to do commercial work, whether it is a panel truck, a flat-bed truck, or a semi-tractor-trailer truck, you will need a completely different policy than that which covers your personal pickup truck. There are a variety of policies which cover commercial trucks, and you will need to find the right policy for your particular needs.

Trucks are classed according to size, weight, and purpose. In general, the bigger the truck, the higher the insurance premiums, although this is not always the case. Trucks are also classified by their use, and trucks which are used to transport hazardous materials or to do dangerous jobs will require more insurance and typically higher premiums, even if they may be smaller than some other vehicles.

There are four types of coverage for commercial vehicles. Each of these has a specific purpose, and all four are usually required, depending upon the use to which the truck is put.

All trucks must carry liability insurance. Liability insurance is very similar to the insurance carried by cars in this regard; it protects the driver from liability in an accident. It will pay for damages to another person’s vehicle, medical expenses, and other property damage if you cause an accident.

Trucks can also carry “physical damage” insurance as a separate policy. Similar to a “comprehensive” policy on a car, this insurance pays to repair or replace the vehicle if it is damaged in a non-accident-related incident. Fire, flood, theft, and tornado are all covered by a physical damage policy, and many policies have riders such as glass breakage, which can save you a good bit of money if you have minor damage to your vehicle from a flying rock or other debris.

One type of insurance which is completely different from that carried on cars is a “cargo” policy. Because so many trucks carry large loads of goods, the goods as well as the truck must be insured. Cargo policies are typically priced by the type of cargo the truck generally carries. If the cargo is expensive to replace, the corresponding coverage will cost more.

A final type of insurance often carried by truck drivers is medical coverage. If the worker is injured as a result of operating the truck for work, workers’ compensation may pay; however, if the truck driver is off duty and owns the truck, medical coverage may be necessary to pay the bills.

These policies are sometimes integrated into the liability section of the policy, but can also be standalone policies.

If the truck is stored, there is a form of storage insurance called “bob-tail” insurance which is designed to protect the truck driver’s investment. Bob-tail insurance is specifically designed for trucks which are not currently being used for work purposes.

If you want to save on these types of truck insurance, your best bet is to visit an independent agent or a company which specializes in insuring trucks. Sometimes, your car insurance carrier is not the best place to save. Visit several companies and perform an internet search to find companies specializing in truck insurance.