Do You Have Optimal Coverage?

Going without home insurance is risky, so most of us bite the bullet and pay the premium. But there are ways to save on what you pay.

Forbes business experts suggest ten ways to ensure you have optimal coverage with the right risk/cost balance:

Increase deductibles – Insurance isn’t meant to cover the small stuff. Set deductibles as high as you can afford. For example, a $150,000 house could have a $1,500 or 1 percent deductible.

Make improvements – Install a backup generator, a whole house surge protector, and smoke/CO2 detectors. Refit roof trusses with strapping.

Opt for hip roofs – Hip roofs offer the most slippery shape in high-wind settings or storms. You don’t want roof areas that can catch the wind and are prone to damage.

Locate intelligently – Stay away from flood-prone areas. In high wind areas, look for brick or stone houses. In quake-prone areas, look for wooden frame houses. Locate in communities with professional fire departments. Have your home inspected before you purchase.

Don’t make small claims – Frequent claims can drive up rates. Don’t sweat the small stuff. Insurance is meant to protect you from catastrophic loss.

Reinforce your home –Install storm shutters, reinforce the roof, retrofit older homes for
earthquake resistance, and modernize heating, plumbing, and electrical to reduce risk
of fire and water damage.

Improve home security – Add smoke detectors, deadbolts and burglar alarms or other security systems.

Combine policies with one insurer – Most insurance companies offer discounts for multiple policy households. Combine home and auto insurance. Then buy an umbrella liability policy over both to optimize cost.


Obamacare Health Reform Exchanges to go Online October 1

The federal government appointed some businesses that were entrusted with the duty of making the Obamacare health reform work. Just recently, these businesses have announced that their systems would be ready by the first of October. So on that day customers will be enrolled in all the new health insurance companies.


Take Advantage of these Home Insurance Discounts

Did you just buy a new house? Now you would want to buy an insurance plan so that you can keep yourself protected. You might not mind paying a few thousand dollars for insurance every year, when the cost is compared to the original amount that you invested in your property. Home insurance is not that expensive in comparison,


Protect Yourself from Hurricanes and Other Disasters

Fortunately, the hurricane season has been really calm up till now, but meteorologists predict that it will soon be otherwise. At the start of this year predictions were made regarding above average hurricanes, and almost 11 hurricanes were forecasted. The industry experts still believe that these predictions might come true, and the storms that might hit could be some of the worst ever,


How to Protect Yourself Before and After an Accident

Every year hundreds of thousands of people in the U.S. are involved in traffic accidents. Many of these accidents result in only minor injuries, but massive insurance claims. It is wonderful if you find yourself physically unscathed after an accident. However, you will at some point have to deal with your insurance company as well as the insurance agents of others involved in the accident.


Survey Indicates that Healthy Young Adults Prefer Obamacare

Young adults that are below 35 years of age do not exactly require insurance because their health is often good enough, and they do not require extensive medical care. Moreover, several of these individuals cannot afford health insurance because they are just in the initial stages of their professional life, and so do not earn impressive amounts.


Similar Hospitals but Different Insurance Rates

A recent study has revealed some interesting facts about private hospital insurance. Though the hospitals exist in the same cities and offer pretty much the same facilities, the residents are charged twice the general amount at some of these.

All the highest priced hospitals are paid more than 60% for their inpatient services whereas for their outpatient care,


Crop Insurance Grows Ever More

A while ago, a program was launched with the aim to save farmers from damaging their businesses. This program has now grown into a support for affluent growers to thrive at the expenses of taxpayers. The prices are also increasing. Just last year, almost $15 million was spent to insure farmers against crop loss. The amount is nearly seven times more than what it was in the year 2000.


Football Season and Injuries – Game Changers

Playing sports is great for kids. It teaches them the importance of team work, helps them stay physically active and creates positive habits that last a lifetime. An injury, however, can sideline young athletes for the season – or longer. A recent study by Safe Kids Worldwide identified measures that athletes, coaches and parents can take to prevent serious injuries so kids can stay in the game.


Two Questions Potential Homeowners Should Ask Before Buying

Insurance Information Institute says insurance is often the last thing people think about when buying a home, but it should be a key factor.

When it comes time to buy that dream home, the cost to insure it is often overlooked. The Insurance Information Institute (I.I.I.) says there are two questions every potential homeowner should ask before they buy: How much will the home cost to insure?