Courtesy of https://www.iii.org/article/8-auto-insurance-myths When purchasing an auto policy, it’s important to understand the factors that affect your policy costs and coverage. Unfortunately, there's a lot of bad information that passes for "common wisdom"—here, we separate myth from facts about car insurance. Myth 1 – Color determines the price of auto insurance It doesn't matter whether your car is “Arrest Me Red” or “Hide In Plain Sight White”—the color doesn’t actually factor into your auto insurance costs. The price of your auto policy is based on many factors, such as car make, model, body type, engine size and the age of the vehicle, as well as the car’s sticker price, the cost to repair it, its overall safety record and the likelihood of theft. Insurers also take into account the age, driving record and sometimes the credit history of the driver. Myth 2 – It costs more to insure your car when you get older Quite the opposite, in fact—older drivers may be …
Insurance
If You Have to Evacuate
Courtesy of iii.org In the event of a sudden, catastrophic event, you may have just minutes to gather your family and get out of your house—possibly for good. What would you take? Where would you go? Planning ahead for the worst can help minimize the impact of a tragedy and may even save lives. This five-step plan can help get you and your family on the road to safety. Some of this information is also covered in the I.I.I.'s Know Your Plan app. Check it out for preparedness tips, handy checklists (including ones you can personalize yourself) and evacuation planning advice to cover a variety of disasters. It's a great tool to help get you and your family—including pets—organized and ready to act more quickly if an emergency strikes. For your evacuation planning: 1. Arrange your evacuation ahead of time Don't wait until the last minute to plan your evacuation. Identify where you can go in the event of an evacuation. Try to have more than one option: the home of a …
Student Loss and Your Family
Courtesy of iii.org With burglaries constituting approximately 50 percent of all on-campus crimes, it's important for college students and their parents take steps to prevent theft, adhere to safety measures—and review their insurance coverage. Campus coverage basics It's best to consult your insurance professional for the details of your family's specific coverage and where you might need additional protections, but here are some general guidelines: Students who live in a dorm are covered under their parents' standard homeowners insurance policies – That is, their possessions are protected by "off premise" coverage. However, some homeowners policies may limit this amount of insurance, so make sure you understand your own policy. Students who live off campus are likely not covered by their parents’ homeowners policy – Your insurance professional can tell you whether your homeowners or renters policy extends to off-campus living situations. If it does not, to …