Courtesy of iii.org One of the best ways to keep your auto insurance costs down is to have a good driving record. Listed below are other things you can do to lower your insurance costs. 1. Shop around Prices vary from company to company, so it pays to shop around. Get at least three price quotes. You can call companies directly or access information on the Internet. Your state insurance department may also provide comparisons of prices charged by major insurers. You buy insurance to protect you financially and provide peace of mind. It’s important to pick a company that is financially stable. Check the financial health of insurance companies with rating companies such as A.M. Best (www.ambest.com) and Standard & Poor’s (www.standardandpoors.com/ratings) and consult consumer magazines. Get quotes from different types of insurance companies. Some sell through their own agents. These agencies have the same name as the insurance company. Some sell through independent agents …
Hurricane Season Coming Soon, Renters Guide
Courtesy of iii.org RENTERS INSURANCE If you rent, rather than own, your home, have you bought renters insurance? While your landlord may provide insurance coverage for the structure of your home, as a renter you are responsible for your own belongings. Renters insurance covers the loss or destruction of your possessions if they are damaged by a hurricane or other disaster listed in the policy. A standard renters insurance policy also includes ALE coverage if you are unable to live in your house or apartment due to damage caused by a hurricane. Flood insurance is also available for renters. However, as for homeowners, the NFIP flood insurance policies for renters do not include ALE coverage. Don’t wait to review and update your insurance until after you have a loss—there are few things worse than finding out you did not have the right kind of coverage when you are already filing a claim. So before hurricane season kicks off, make sure you’ve reviewed home or renters …
Beware of After-the-Storm Scams
Courtesy of iii.org Natural disasters (such as a flood, earthquake, hurricane or tornado) sometimes invite another type of disaster: “Storm Chasers” who try to profit from others’ unfortunate circumstances. These profiteers take many forms – from workers posing as qualified contractors to “volunteers” trying to help only themselves to lawyers and public adjusters offering to take over your claim. If you start having second thoughts about anyone who has offered assistance after disaster strikes, here are some tips to get you back on course: Never feel pressured to make a decision. While the need to recover quickly is understandable, do not succumb to a high-pressure sales pitch. If you’ve signed an agreement or contract, remember the Federal Trade Commission has rules protecting consumers that allow you to cancel a contract up until midnight of the third business day after entering into it. This applies to door-to-door sales contracts for more than $25, as well as sale …