Your Personal Liability Insurance, Biting Iguanas, and Roller-Disco

Personal Liability: There are over 5 million dog bites in the US every year. Some of these bites require medical attention, some will cause longer-term trauma, and some may even result in lost wages if the injured person is unable to work due to their injuries. While only one example of how personal liability can occur, the possibilities of exposure to a personal liability lawsuit are almost without limit; we can be sued for many reasons, some of which we may not immediately realize are risks. I’m not picking on dogs here. Dogs are wonderful companions. It could just as easily…

Do I need to purchase insurance for a rental car?

Most of us have been there at some point, lost within a chilled-air moment of temporary confusion when the nice man or nice lady at the rent-a-car counter asks us to purchase insurance for the rental, sometimes insisting, instilling fear and doubt in our hearts. Do we need it? Don’t I already have insurance? Why would a smart rent-a-car company let an unknown person like me have a choice in such an important matter? What happens if I crash the Chevy into Epcot Center, leaving an extra dent, or if I back over Mickey Mouse? Will I lose my house?…

Which credit card should I pay off first?

At some point in our lives, most of us have carried some credit card debt. In fact, the average American family owes nearly $5,000 to credit card companies. Assuming an interest rate of 15%, an average debt of $5000 for one or more cards is costing us about $750 per year in interest. That’s the simple math of it. Calculating the true cost of credit card debt is a bit more complicated than that, but now we have a number to work with that’s pretty close to the truth. We’d all love to eliminate our credit card debt completely, to…

Who Needs Term Life Insurance?

Your insurance agent might cringe at the the thought, but life insurance isn’t for everyone. Many of us have some very good reasons to purchase life insurance, but some people really don’t need it. Read on, and I’ll explain why some people need a life policy while others may not. While this is true for both whole life insurance and term life insurance, this article specifically addresses term life insurance. Term insurance is designed to provide coverage for a specific period of time. This time period might coincide with the term of a loan or with the length of a…

Why do I need Renters Insurance?

It’s pretty easy to understand why someone might need insurance for a house, or for a car. These can be expensive items and we’d often want coverage for these items to protect us financially if they were damaged. However, if we are renting our home or an apartment, the property belongs to someone else. Why would we need renters insurance? Renters Insurance covers your stuff. Your stuff is simply your personal belongings, the things you move in or out of your home on moving day. The coverage on your policy will usually be called Personal Property. This would include your…

What Does it Mean if an Auto Insurance Claim is Subrogated?

Subrogation in an auto insurance claim is the process in which your auto insurance company works on your behalf to collect from the other party’s insurance company if your vehicle has been damaged and it is believed that the cause of the damage was the other party’s fault. In addition to physical damage to your vehicle, you may have incurred other expenses as well as the result of an accident. Some of these losses may fall within the scope of an auto insurance claim, such as auto rental or other travel expenses. Your auto insurance company will typically make their…