Travel Insurance – Making the Life of a Traveler Easier



Many people enjoy taking a lovely cruise to a foreign country, or love to hop an international flight. Travelling to the other side of the globe can take place in just a day or two, and more and more people must travel frequently for business. Whether you enjoy travel for fun or if it is required for your work, you should have travel insurance in order to cope with any situation that could crop up in unfamiliar territory. There is travel insurance for flights, cruises, or even just generalized insurance that protects against lost luggage, cancelled flights or lost identification.
You can get either temporary or long term travel insurance, depending on the circumstances. Most people will choose to get temporary insurance for that particular trip, and this is the kind that you can sign up for from a travel agency or cruise line. Long term or annual insurance plans are for those who travel frequently and need coverage regularly. This kind of coverage may include medical expenses, and dental insurance. In addition, it may also include a car and home rental insurance coverage if you need to rent a room or home to stay in while you are traveling.
Both types of insurance will usually offer accident and death plans, which will offer a set amount in the event of a catastrophic event leading to your death. Some companies may offer a type of travel insurance that will help cover the costs of evacuation or emergency medical attention in the case of civil unrest or riot. People of all types may need this type of insurance, including missionaries, students, health workers and even business people. Rather than leave your fate to chance, you should have enough insurance coverage to ensure that you can get the services or care you need wherever you happen to be.
While many perfectly reputable companies offer travel insurance as a matter of policy, it is important to note that not all insurance policies or companies are created equal. When you decide that you need to get insurance for your travels, you need to decide if you need short term or long term, and then you need to determine which scenarios are more likely to happen to you, and make that your primary coverage concern. Always compare prices and policies at different companies, in order to get the best rates, and make sure that you read the documents thoroughly before you sign.

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Ten Ways You Can Get Cheaper Insurance Premiums

These days, many people are looking to save money in any way they can.   One easy way to cut costs is to lower your insurance premiums.  Here are 10 simple tips to keep in mind for lowering your insurance premiums.
1.  Raise your Deductible
This is perhaps the simplest way to decrease your premium.  The premium is your monthly cost for your insurance, while your deductible is the amount of money you must pay before the insurance company will pay anything.  Insurance companies charge lower premiums for higher deductibles.  In the long run, you will save more money in lower premium costs if you simply set aside some cash to pay the higher deductible if an accident does happen.
2.  Keep Your Credit Score Above 660
In many states, insurance companies will check your credit score to determine the premium for homeowners and auto policies.  Their theory for doing this is quite simple:  people with good financial management tend to have fewer insurance claims.  Raising your credit score can easily save you fifteen to twenty percent on insurance premiums.  If your credit score has been affected by identity theft or your credit score is incorrect, report it immediately to your insurance agent; a simple phone call may lower your insurance premiums, or perhaps prevent them from going up.
3.   Visit an Insurance Broker Not an Insurance Agent
An insurance agent is someone who works for just one insurance company, while an insurance broker is someone who works with many insurance companies.  They are also well-versed in specialty insurance companies which cater to people who have a specific lifestyle or heath issue.  An insurance broker has the ability to look at your unique situation and determine which company or combination of plans can get you the best deal for your money.  Keep in mind, they do cost a bit more in the beginning, but in the long run, it may be well worth the extra up-front cost.
4.  Negotiate
Most people don’t realize you can actually negotiate lower insurance premiums.  In fact, there are many discounts you can get just by asking for them.  Inform your insurance agent of any safety features and anti-theft features you have on your car and in your house.  Also, you’ll want to shop around to different insurance agencies to see if you are getting the best deal.
5.  Buy All of Your Insurance From One Insurance Company
Many insurance companies will give discounts on your insurance if you use them to service all of your insurance needs.  If possible, get your homeowners, renters and car insurance from the same place.
6.  Use the Insurance Company as a Bank
Many insurance companies also have a banking branch as well.  In addition to giving discounts to people who purchase all of their insurance from one company, many will also offer a discount if you use their banking bill pay service to pay your premiums.  If you have a credit card, you might consider transferring your balance to a card held by your insurance company as this can also give you a discount on your premiums.
7.  Avoid Driving 4-Wheel Drive Vehicles
While most people purchase 4-wheel drive vehicles to feel “safer” when the roads are bad, most insurance companies view them differently:  in their eyes, the driver of a 4-wheel drive vehicle is more likely to take it off-road and be in an accident.  This is especially true for teen drivers, so if you need to insure a car for a teenager, giving them the old SUV instead of buying them a used car might not be such a good idea:  the money you save by not buying a car will be lost in higher premiums.
8.  Take a Driver’s Education Course Every Year
Insurance companies give lower premiums to safe drivers.  Even if you don’t have any accidents on your record, you can usually save ten percent on your premiums each year by taking a driver’s education course.  This is especially true for people under 25 and those over 60.  These courses usually last only a day and many are given on weekends to accommodate busy people.  The savings in premiums will easily cover the cost of the course — with some left over.
9.  Drive a Fuel Efficient Car
Many insurance companies will give a discount to “green” vehicles such as hybrids or all electric cars.  If you are considering buying one of these vehicles, consider talking to your insurance agent to see which one car will cost you the least in monthly insurance premiums.
10.  Disaster-Proof Your Home
Storm shutters and stronger roofing materials can help you save on homeowners insurance premiums.  If you have an older home, you might want to consider modernizing the electrical and plumbing systems to reduce the risk of fire and water damage.  Also, if you live in earthquake regions, you might consider retrofitting your older home to make it better able to resist damage from earthquakes.
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Various Types of Insurance Coverage



In the modern world, people need insurance coverage in order to protect themselves from unforeseen problems. There are types of coverage that each individual person may or may not need depending on their circumstances. Having yourself properly covered can become complicated so you should seek the advice of a qualified insurance agent when purchasing insurance.
One type of insurance that everyone that owns a vehicle needs is automobile coverage. All states require that all drivers have a minimum level of coverage in order to operate a vehicle within the state. The state minimums will vary from one state to another. There are different types and levels of automobile insurance. If your car has a lien against it, you are required to have full coverage. This ensures the lender that the car will be repaired no matter how much damage is done and who is at fault. If you own your vehicle, you can opt for liability insurance. With liability insurance, your car can be repaired if the other driver is at fault, if you are at fault, you will have to cover the costs of the repairs to your car.
Homeowners need to have insurance on their home. You need to carry a large enough policy to cover the cost of replacing your home, but there are many other things that can be added to your homeowner’s policy. You can have your policy set up so that the contents of your home are covered, you can also have outbuildings covered. You can even have the contents of outbuildings covered if you choose. If you live in a flood plain, you should have flood coverage added to your policy so that home repairs are covered in the event of a flood. There are other items covered by a homeowner’s policy, but they will all cost extra. When having your policy written you will have to consider carefully what you choose to have covered.
Life insurance is another important type of policy that everyone should have in force. Life insurance covers your life. If you pass away, your policy will go to your family to help with living expenses once you are gone. This is one of the hardest types of policy for people to purchase because they do not like to think about the end of their life. If you have a family that is what you should think of when purchasing life insurance. The policy you have could be what allows your family to continue instead of falling apart after you are gone. The cost of burial alone is extremely expensive and your policy will cover that cost. Life insurance will cover the loss of your income for a time. For those that have families life insurance is very important. For those that are self-employed they may need to purchase their own health insurance. If you have many pets, you may want to consider insuring your pets. Veterinarian cost can be very expensive so pet insurance can be a crucial investment for those with several pets, or even one pet if it has many medical problems.
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Home Insurance – For Homeowners and Rental Properties Alike



First time home buyers or seasoned home owners all usually think of their home and property as an asset and an investment. Not only does it contain the treasures gathered in a lifetime, it also represents the real market value in case you ever wish to sell. If you do not have home insurance, then you are placing yourself and your heirs at risk of losing those assets you have worked so hard to build. If you are the victim of theft or disaster and cannot recoup from those losses, then you may be forced to sell your property or be unable to make repairs.
Home insurance offers the homeowners the chance to make a monthly payment, or premium, and this goes towards a certain and pre-determined amount of financial remuneration in the event of disaster or damage. Imagine if you have no insurance and your house catches fire and burns to the ground. Not only is this an unpredictable event in which you are forced to flee and leave behind valuables, now you are looking at having to replace your treasured items and perhaps tear down what is left of your home and then rebuild. Not many can afford do this out of their pocket.
This is where home insurance comes in. You can purchase insurance specifically in case of fire, theft, hail, wind, flood, or other catastrophic or unexpected events, and if you are up to date on your payments and the situation applies to your insurance agreement, the company will provide you with the money that you are insured for. This allows you to rebuild your home. While it cannot replace sentimental items, it can let you purchase necessities for living and help you while you put the pieces of your life back together again. Insurance can be a great help for many people.
Even if you do not own a home and do not need that kind of insurance, you can still get renter’s insurance, which is another type of home insurance. This will protect your personal items while you are renting a property. For example, if someone breaks into your rental home and steals all of your electronics and money, renter’s insurance can help protect against the financial straits you would be in to renew your belongings. Again, every policy in every company may differ, so always read the information carefully, and never sign a contract until you are fully satisfied with the terms.
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Minimizing Water Damage From Flooding Events

A flooding event can be devastating to the homeowner. Whether the flood occurs as a result of external factors such as flash floods resulting from heavy rainfall or a broken window allowing rainwater to pour into the home during a strong storm, or from internal factors such as a broken water line or overflowing toilet, the results are the same. Expensive repair bills for repair of the home structure itself and loss of household goods can easily add up to thousands of dollars. Even with insurance, some things simply can’t be replaced, such as family heirlooms or all the pictures and files stored on a home computer. The good news is there are steps that can be taken before a flood to help minimize losses and several of these will be discussed here.

 Securing Property in the Home
The most devastating losses during a flood are usually irreplaceable family heirlooms or things like photo albums or important documents. The best way to prevent these items from becoming destroyed or damaged by flood is to properly store items in a way that will reduce the risk of exposure to water in the event of a flood.
 Electronics should never be placed directly on the ground, simply raising a computer or expensive television a few inches off the ground can be the difference between a prized possession surviving the flood intact or becoming a total loss. Electrical chords should likewise be kept off the ground whenever possible, as electronics can short out if the chords are submerged in water for too long. This also decreases the risk of electrical fire or electrocution in the event a room or home becomes inundated with water.
 Non-electrical possessions such as photo albums, family wedding dresses and other similar keepsakes should be stored in waterproof containers. Large plastics bins are available in most big-box stores and are a great way to protect items from water damage.
 Saving furniture is difficult in a flood scenario, however there are some steps that can be taken to reduce the risk. First, always try to place expensive furniture items away from windows. Similarly, whenever practicable try to keep these items away from water sources, . Use small ‘spacers’ to raise furniture off the ground a few inches so that if it does flood, there is a better chance that the items won’t come into direct contact with water in the event a room becomes inundated with water. Before a major storm, heavy plastic covering can protect furniture if a window blows out allowing rain to enter the room.
 Important documents should always be kept in a fire and waterproof safe. These items include passports, birth certificates, social security cards, and other similar items. Bossiness documents can be kept in waterproof filing cabinets, a more affordable solution would be the same plastic bins used to photographs. Also consider keeping an electronic back-up off all business related papers.



Electronic data can be protected in two ways. Hard copies of important data can be made and then stored either off-site or in plastic bins. Another option is to use online backup services to help protect your valuable information. There are a number of well-established, trustworthy sites on the internet that will scan and copy your entire hard drive and back it up on their servers to help prevent data loss. Alternately a some sites allow the user to upload data that they want to protect, and store only the data that is uploaded, rather than backing up the entire drive. The second service is usually less expensive, and is a good choice if only looking to save digital photos or a few files.

 Decrease the Risk of Flooding Occurring
While not all floods are preventable, there are some steps that can be taken to reduce the risk. Regularly inspect waterlines, faucets and toilets for signs of a leak. A small leak can quickly build into a large leak, and any small leak should be fixed immediately. If it is not possible to fix the leak immediately, then the water to the affected area should be turned off and kept off until repairs can be made.
 Install and use storm shutters on all windows. If a major storm event is expected and storm shutters are not installed, cover all windows with plywood on the outside and heavy plastic on the inside. Staple the plastic to the wall, and then cover with masking tape or something similar to ensure a tight seal.
 Check the condition of roofing on a regular basis, at least once a year. Replace any missing or damaged shingles, or have a roofer do it. Ensure there are no ‘soft spots’ in the roofing, these may indicate a leak has already started and the wood underneath the roofing is starting to rot. Replace any damaged areas as soon as possible, as weakened areas in the roof can quickly collapse and cause catastrophic flooding damage to occur in severe weather.

Flood insurance
Many homeowners are shocked to find that homeowners insurance doesn’t cover water damage, particularly flood damage caused by natural disasters. Speak with a qualified insurance specialist to find a quality flood insurance policy. While flood insurance may seem like an unnecessary expense at first, damage from a flood can cost tens of thousands of dollars to repair. High-end policies will cover all water damage restoration costs, replace lost household goods, and even provide living accommodations for the duration of the repair process.
 A flooding event is terrible experience which can be both costly and mentally exhausting. However by taking the steps described here, both mental anguish and property loss can be mitigated. This will make the recovery process go more quickly and smoothly, getting things back to normal in less time and with less heartache.
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Is A Higher Auto Insurance Rate For Men Twenty Five And Below Discrimination?



What makes a man below 25 so attractive? Is it the angst to make it big in life? Is it the youthful charm? Is it the fashion sense? Or… is it that shimmering blue car he got?
To have a car is an advantage. You get to travel with not much hassle compared to having to commute. For young men especially that below 25, owning one is a symbol of masculinity. They often use it as a magnet for the opposite sex.
Beneath these fine points, one disadvantage these young men suffer in having a car is: THEY HAVE TO PAY HIGHER AUTO INSURANCE RATE. As the rationale of this policy tells, younger men are at high risks compared to older ones. That is why they have to pay for higher rates.
Some understand and realize this point but for many, they think it is a form of “discrimination”.
The word discrimination is defined as-treatment or consideration based on class or category rather than individual merit; partiality or prejudice: racial discrimination; discrimination against foreigners.
Most young men who claim that indeed there is discrimination feels that though they are at high risks, why must charges be different? It is like charging one person according to gender, race or age which is a form of discrimination.
There is a difference between legal discrimination and the one which is defined by the dictionary. Legal discrimination often pertains to justified discrimination. Discriminating auto insurance rates through age is not true to all states. In some places like California, they categorize them through driving experience. Charges are higher to those who have been driving for less than 9-10 years than those who have been driving more than 10 years to fifty years. For those who are 80 years old or more or the senior citizens have to pay more because they are also at high risks.
In the United States of America, principles which are not prohibited by laws are considered to be permitted. This makes charging bigger rates of auto insurance to men below 25 neither legally discriminatory nor illegal.
Complaints like auto insurance must be based in the drivers’ records whether he drives well or not and not by age. Complainants think that it is unjust to charge everybody for the mistake of half. The basis of charging higher to men 25 and below is the psychological aspect, at this age they become playful, very adventurous, risk-takers and they drink a lot!
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How to Insure Your Retirement Like You Do Your Car (Almost)

Roll of money in a nestYou can insure your home and car from disasters and accidents. Life insurance essentially protects your family from the loss of your income should tragedy strike. You can't insure your retirement accounts in the quite same way, but there are a few tried and true strategies that can safeguard them.

1. Continue Saving for Your Retirement Even During Your Golden Years

There is no rule that you have to stop investing when you hit your golden years. One of the best hedges to outliving your retirement assets is to continue investing even when you reach retirement age. While there are mandatory age distributions from 401(k) retirement plans and traditional IRAs, you can continue to make investments in other assets during your retirement.

"With increasing life expectancy and retirements that could last for decades, investing may be a necessity for many retirees, says J.J. Montanaro, a certified financial planner with USAA. "If you just look back at the last 30 years, a dollar has lost nearly 60 percent of its purchasing power to inflation. Investing offers a way to combat that loss of purchasing power. The key is to develop a plan that will allow you to achieve what you want to achieve without causing chronic insomnia."

2. Work Longer

While some Americans must continue to work during retirement because of a lack of savings, others simply want to work and enjoy the social aspect of working during retirement.

Mitch Anthony debunks the old concepts of retirement in "The New Retirementality." "A longer work life means continued engagement as well as continued paychecks," he says. "The day you cash your last paycheck, the price of everything begins to matter. Why enter a shrinking economic reality sooner than you need to?"

Retirement today looks very different than it did decades ago, and that isn't necessarily a bad thing. The real problem is getting over our preconceived notions as to what retirement means in today's economy and society.

3. Invest in Passive Income Strategies

Many financial experts believe that you need several buckets of income to supplement your retirement. For example, you could have a pension, income from real estate, Social Security and an annuity to help replace the income that you had before you retired.

"Typical retirement planning is that you work like a dog for 40 years, save up and spend from principle until you exhale your last breath," says Todd Tresidder, financial mentor and author of "How Much Money Do I Need To Retire" and other books. "If you flip that upside-down and -- rather than amassing a big pile of assets -- save assets that produce cash flow in excess of your expenses, we then eliminate risks. We create perpetual income."

Retirement is a euphemism for old-age financial independence. The core of financial independence using passive investments is that you create cash flow from investments that exceed your expenses and only spend the cash flow, not the principle balance. A passive income requires minimal input from you after you invest in it to start.

4. Invest in Annuities

An annuity is essentially an insurance product. You trade a lump sum for equal monthly or yearly payments when you invest in an annuity. For example, a $1 million lump sum payment to an insurance company could provide you with more than $40,000 in yearly payments for you and your heirs the rest of your lives. (Of course, details vary.)

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"Annuities shift risks from you to the insurance company," says Tresidder. "Retirement planning as it's commonly practiced today is nothing more than self-insurance, where you are accepting most of the risk. Using annuities shifts market risk, actuarial risk and longevity risks from you to the insurance company."

There are many benefits and several drawbacks to annuities. They may provide higher yields than traditional pension plans and other retirement options, but they also leave no assets for your heirs when you die.

5. Hedge Your Investments

My father-in-law retired after working as an executive for decades at a large, national bank. In addition to his pension, he held a lot of company stock that he received as options. After the financial crisis in 2008, his stock and dividends took a severe hit. The stock has recovered, but my in-laws endured several rocky years.You can insure your home and car from disasters and accidents. Life insurance essentially protects your family from the loss of your income should tragedy strike. You can't insure your retirement accounts in the quite same way, but there are a few tried and true strategies that can safeguard them.

1. Continue Saving for Your Retirement Even During Your Golden Years

There is no rule that you have to stop investing when you hit your golden years. One of the best hedges to outliving your retirement assets is to continue investing even when you reach retirement age. While there are mandatory age distributions from 401(k) retirement plans and traditional IRAs, you can continue to make investments in other assets during your retirement.

"With increasing life expectancy and retirements that could last for decades, investing may be a necessity for many retirees, says J.J. Montanaro, a certified financial planner with USAA. "If you just look back at the last 30 years, a dollar has lost nearly 60 percent of its purchasing power to inflation. Investing offers a way to combat that loss of purchasing power. The key is to develop a plan that will allow you to achieve what you want to achieve without causing chronic insomnia."

2. Work Longer

While some Americans must continue to work during retirement because of a lack of savings, others simply want to work and enjoy the social aspect of working during retirement.

Mitch Anthony debunks the old concepts of retirement in "The New Retirementality." "A longer work life means continued engagement as well as continued paychecks," he says. "The day you cash your last paycheck, the price of everything begins to matter. Why enter a shrinking economic reality sooner than you need to?"

Retirement today looks very different than it did decades ago, and that isn't necessarily a bad thing. The real problem is getting over our preconceived notions as to what retirement means in today's economy and society.

3. Invest in Passive Income Strategies

Many financial experts believe that you need several buckets of income to supplement your retirement. For example, you could have a pension, income from real estate, Social Security and an annuity to help replace the income that you had before you retired.

"Typical retirement planning is that you work like a dog for 40 years, save up and spend from principle until you exhale your last breath," says Todd Tresidder, financial mentor and author of "How Much Money Do I Need To Retire" and other books. "If you flip that upside-down and -- rather than amassing a big pile of assets -- save assets that produce cash flow in excess of your expenses, we then eliminate risks. We create perpetual income."

Retirement is a euphemism for old-age financial independence. The core of financial independence using passive investments is that you create cash flow from investments that exceed your expenses and only spend the cash flow, not the principle balance. A passive income requires minimal input from you after you invest in it to start.

4. Invest in Annuities

An annuity is essentially an insurance product. You trade a lump sum for equal monthly or yearly payments when you invest in an annuity. For example, a $1 million lump sum payment to an insurance company could provide you with more than $40,000 in yearly payments for you and your heirs the rest of your lives. (Of course, details vary.)

Take our free
online course on:

Intro to RetirementStart Now »View all Courses
"Annuities shift risks from you to the insurance company,"says Tresidder. "Retirement planning as it's commonly practiced today is nothing more than self-insurance, where you are accepting most of the risk. Using annuities shifts market risk, actuarial risk and longevity risks from you to the insurance company."

There are many benefits and several drawbacks to annuities. They may provide higher yields than traditional pension plans and other retirement options, but they also leave no assets for your heirs when you die.

5. Hedge Your Investments

My father-in-law retired after working as an executive for decades at a large, national bank. In addition to his pension, he held a lot of company stock that he received as options. After the financial crisis in 2008, his stock and dividends took a severe hit. The stock has recovered, but my in-laws endured several rocky years.

You can use option strategies to protect your stock positions in many cases. An option gives you the opportunity to sell or buy shares of stock with contracts at a future time at a set amount of money, instead of relying on the fluctuations of the market. If you don't feel comfortable with options, you can enlist a financial planner to hedge your retirement investments.

6. Get Professional Help

It never hurts to get professional financial help if you are worried about your retirement accounts and if you will have enough saved for retirement. It has never been easier to find qualified financial planning -- fee-only, commissioned-based, or even by the hour for giving advice without creating a financial plan.

Insurance companies do not offer retirement portfolio insurance, but there are ways that you can hedge against calamity with your retirement accounts.

You can use option strategies to protect your stock positions in many cases. An option gives you the opportunity to sell or buy shares of stock with contracts at a future time at a set amount of money, instead of relying on the fluctuations of the market. If you don't feel comfortable with options, you can enlist a financial planner to hedge your retirement investments.

6. Get Professional Help

It never hurts to get professional financial help if you are worried about your retirement accounts and if you will have enough saved for retirement. It has never been easier to find qualified financial planning -- fee-only, commissioned-based, or even by the hour for giving advice without creating a financial plan.

Insurance companies do not offer retirement portfolio insurance, but there are ways that you can hedge against calamity with your retirement accounts.
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