Auto Insurance and Students Away At College

Recently a member asked me about adding a college student to personal auto insurance: My son got his driver license this summer and is now in an out of state college. He is not going to drive while at school. However, when he is back for Christmas or Summer (may be for two to three weeks), he will drive our car. Should I include him in our auto insurance? Or should I include him in our auto insurance only during the period when he is back? Some agents claimed that including him all through the year will help him … Continue reading

Insurance Blog Week In Review August 1-7, 2007

Insurance Term Of The Week: Binder Wednesday August 1, 2007. With all the recent news about Lindsey Lohan’s problems a few recent quotes from the Hollywood reports bring up my area of expertise, Insurance! There has been a bit of chatter about the fact that Lohan may now be “uninsurable.” So what does this really mean when it comes to Movie Insurance? Thursday August 2, 2007. When we think about movie stars, singers and other celebrities it shouldn’t seem strange they may want to insure their assets. The history of celebrity body parts insurance is an interesting insurance market most … Continue reading

How to Avoid Auto Insurance Cancellation

One of the most costly and difficult things to overcome is having your insurance policy cancelled. A cancelled policy is never a positive mark on someones insurance credit score history. Cancellation usually means the insured policy holder has caused the insurance company a reason to deny accepting the risk any longer. The most common reason for an insurance company to cancel an Auto Insurance Policy include: It all starts with the original Application a person submits when asking for insurance coverage from an insurer. The insurance company has the right to cancel a new insurance policy any time and for … Continue reading

Tips to Avoid Buying a Used Car With Flood Damage

An automobile can suffer flood damage in a variety of different ways. Following hurricane Katrina salvaged cars from flooded areas were sold to many unsuspecting used car buyers. It doesn’t require a national catastrophe to cause flood damage–some autos may be flooded during an instant at a boat dock, or when a driver attempts to drive through flooded streets. A used car customer may think they are buying a nice used car, but may later find there was hidden water damage. Cars that have suffered flooding damage are most often unreliable. With hidden electrical damage and water associated problems. Used … Continue reading

Losing Your Insurance The Difference Between Cancellation And Non-Renewal

The last thing anyone ever wants to read on the top of a notice from their insurance company is “This policy has been canceled.” It’s not fun to receive the notice that your insurance company has decided not to renew your policy for some reason or another. While the terms “Cancellation” and “Non-renewal” may sound just about the same to the average person–in the world of insurance there is a huge difference. Cancellation means that you or your insurance company decided to end all insurance coverage prior to the policy expiration date. Insurance Cancellation by the insurance company is like … Continue reading

Insurance Terms: I

A | B | C | D | E | F | G | H | I | J-K | L | M | N | O | P | Q-R | S | T | U-V | W-Z Income Protection Insurance is a type of disability income coverage providing an income benefit both, during the time the insured policyholder is totally disabled and unable to work. But also offers coverage when an insured policyholder is able to work, but due to a disability the policyholders earning are less than then before the disability. This is also called residual disability … Continue reading

Insurance Terms: C

A | B | C | D | E | F | G | H | I | J-K | L | M | N | O | P | Q-R | S | T | U-V | W-Z Cancellation is when you or your insurance company decided to end all insurance coverage prior to the policy expiration date. Captive Agent is a licensed insurance agent who represents only one insurance company and is limited by contract agreement from submitting new business to any other insurance company, unless or until the agent’s captive company rejects the business. Casualty Insurance is … Continue reading

Insurance 3-Steps for the Single, 20-Something, College Graduate

Watching our children grow up and become adults is one of the greatest parts of parenting. My oldest daughter graduated from Oregon State University with honors last month. I was in awe of the results of my labor, I doubt our children have any idea how proud we really are when they achieve the greatness we dreamed possible! I have written several Blogs about insurance for our older teenagers and young adults. The best advice I can offer is that you continue to insure your child until they are defined by the financial aide office as “independent.” This is usually … Continue reading

How Much and What Kind of Insurance Do We Need?

There are two main reasons everyone will be required or needs to consider purchasing insurance in order to manage their personal risks. In most cases the legally required insurance will cover for liability or property damage where we ourselves are not the one who will be financially protected. Required Insurance Generally Includes: Legally required financial responsibility auto insurance. Most states set a minimum dollar amount of required liability insurance in order to register an automobile. The minimum requirement is for damages a person may cause to someone else’s property or injuries. Loan and Financing Required Insurance is most common for … Continue reading

What is an Insurance Broker?

There isn’t really any difference between an Insurance Broker and an Insurance Agent. An Agent is the representative of the insurance company a customer buys the insurance they need from. The insurance company provides the insurance coverage and the agent or broker is licensed with the state and appointed by the insurance company to represent them for the business with the customers. Captive or Direct Insurance Agents are employed directly by the insurance company, and work for that insurance company only. An Insurance Broker is an independent insurance agent who is appointed by a variety of insurance companies to represent, … Continue reading