Quick Insurance Blog

As Hurricane Katrina showed Americans having proper homeowners insurance for your house is extremely important. There are few things worse than seeing you primary financial asset destroyed with the knowledge that you have not protected it.

Hopefully, Hurricane Gustav will not cause any damage or at the least far less than Katrina did. However, the problem with Hurricanes and other natural disasters is that you can never be entirely sure when and where they are going to hit.

This is what makes having proper home insurance so important. Now, if you live in the likely path of Hurricane Gustav it is probably too late to buy a policy that will kick-in, in time. I can only hope that your loved ones and your property remain safe and unharmed. [Read more →]

Have you ever wondered where you car stands in terms of the costs to insure it? Is your car among the most or least expensive to insure? Well now you can find out where you stand once and for all. Yahoo finance has just published an article about the 10 most and least expensive cars to insure.

The most expensive cars in declining order were the following: 10. Chevrolet Cobalt two-door, 9. Nissan Sentra/Mitsubishi Eclipse, 8. Suzuki Forenza, 7. Nissan Sentra SE-R, 6. Acura RSX, 5. Scion tC, 4. Mitsubishi Lancer, 3. Hyundai Tiburon, 2. Subaru Impreza WRX 4WD, 1. Cadillac Escalade EXT 4WD.
[Read more →]

Should we be worried about bank failures like IndyMac? Well that really depends on who you are. Obviously, if you are a shareholder of a bankrupt bank you will most likely lose your investment. Moreover, it is generally not good for the economy as a whole to have too many bank failures.

However, as an average bank customer, you don’t have to worry. Why, you ask? The answer is simple: deposit insurance. In the United States the Federal Deposit Insurance Corporation (FDIC) insures all accounts up to $100,000. That means that even if a bank goes under, your money is safe up to that limit.
[Read more →]

People believe some pretty crazy things about auto insurance. Now, I have already shown you 11 insanely easy ways to reduce your auto insurance premiums, but there are still some myths that need to exposed. In fact, you may even believe some of them yourself.

Not to worry though, I am going to expose these myths for what they are. However, to find out what they are you will have to enter your name and e-mail address below. Then over the next 7 days the 7 myths will be exposed.

[Read more →]

Everyone knows that we live in a dangerous world, right? Well actually if you look at most major risk factors we are actually much safer than we were 15 years ago. However, some people do live very risky lives and for those people the insurance industry has created the following products.

War Risk Insurance

As you can probably guess by the name, war risk insurance protects individuals and companies from damages caused by war. These types of insurance policies have exploded in size in recent years due to the wars in Iraq and Afghanistan. These policies are very useful if you plan to operate in a war zone but otherwise you probably don’t need this kind of protection.
[Read more →]

Everybody wants to make sure that they have enough money for retirement. However, the one variable nobody knows for sure is how long they are going to live. If you retire at 65 and end living to 85 you won’t need as much as if you end up living to 125.

This is where longevity insurance comes in. Essentially longevity insurance is like an annuity, but one that only starts paying out once you reach a certain age (usually 80 to 85). It can help protect you should you be fortunate enough to live longer than you originally budgeted for.

Seems good on paper right? Well longevity insurance may or may not be a good idea depending on your retirement goals. First, of all you only get the money if you live past the age the longevity insurance starts. So, you will have to live for several years beyond the start of the annuity, before you recoup the amount invested.
[Read more →]